Vancouver Community Series – Richmond
Posted October 28th, 2010 in Neighbourhood SnapShot, Richmond | 
Richmond
Our third installment in the Vancouver community series takes a look at the Richmond BC detached market.
During the two periods Aug 26/10 to Sept 25/10 and Sept 25/10 to Oct 25/10, detached properties in the Richmond community had these results.
Listings
Total Listings decreased from Aug/July’s 731 to Sept/Oct’s 714.
Sales
Sales also declined from Aug/July’s 107 to 92 in Sept/Oct.
Expired, Reductions, Increases, Days on Market
Richmond – 1920- Aug/July had 76 listings expire. That number decreased by two to 74 in Sept/Oct.
- Price reductions in Aug/Sept totalled 148 and increased to 154 in Sept/Oct.
- The total number of price increase in Aug/Sept were 22. This number held in Sept/Oct.
- The number of days it took to sell a home in Aug/Sept was 52. It tool slightly longer 55 days, to sell in Sept/Oct.
Average and Median Prices
- Aug/Sept the Average Ask price was $1,003,912 just slightly above $1,003,798 recorded in July/Aug. The average stalled in Sept/Oct totalling $1,003,521.
- The Median Ask price in Aug/Sept was $888,000. This dropped to $868,000 in Sept/Oct.
- The Average Sold price in the Aug/Sept was $961,038. In Sept/Oct this increased to $966,899.
- The Median Sold price in Aug/Sept settled at $870,000. In Sept/Oct the Median Sold dropped to a total of $852,900.
Thoughts
Notable in this snapshot is the measured level that average prices have maintained while appearing to ingnore dropping sales.
