Why do I feel like it was the Last Hurrah? There was a huge jump in April sales, but will it continue? I am not sure we will know until after June, since that is when the last sales that qualified for the $8,000 Tax Credit can settle. Stay tuned. Here’s the snapshot for April:
For the 25 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in April $ 339,196
Median Sales Price ………….. $ 305,000
Sales Price/List Price Ratio …….. 94 %
Days on Market …………………….. 84
Months of Inventory ………….. 4.2
Average Size 3 bedrooms 2.5 baths of 2,094 sq ft
Average $ per square foot ……….$ 156.60
For the 19 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in April $ 338,515
Median Price ……………………… $ 243,000
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 36
Months of Inventory ………….. 7.0
Average Size 3 bedrooms, 2.5 baths of 1,897 sq ft
Average $ per square foot…….. $ 167.92
For the 9 homes sold on the Northside of the City of Richmond
(Zip 23227 Holton School District)
Average Sales Price in April $ 216,549
Median Price ……………………… $ 235,000
Sales Price/List Price Ratio ……. 88 %
Days on Market ……………………. 43
Months of Inventory …………. 7.6
Average Size 3 bedrooms, 2.5 baths of 1,627 sq ft
Average $ per square foot…….. $ 137.53
For the 26 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in April $ 184,471
Median Price ………………….. $ 192,000
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 94
Months of Inventory …………. 7.9
Average Size 3 bedrooms, 2.5 baths of 1,734 sq ft
Average $ per square foot…….. $ 103.93
For the 74 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in April $ 330,866
Median Sales Price …………… $ 255,500
Sales Price/List Price Ratio ………. 96 %
Days on Market ……………………. 71
Months of Inventory …………. 6.6
Average Size 4 bedrooms 2.5 baths of 2,519 sq ft
Average $ per square foot ………. $ 129.54
For the 105 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for April $ 226,143
Median Sales Price …………… $ 195,000
Sales Price/List Price Ratio …….. 97 %
Average Days on Market……………. 85
Months of Inventory …………….. 10.5
Average Size 4 bedroom, 2.5 baths of 2,086 square ft
Average $ per square foot ………..$ 107.62
For the 59 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for April $ 335,098
Median Sales Price……………… $ 295,000
Sales Price/List Price Ratio ……… 96 %
Average Days on Market …………. 70
Months of Inventory …………… 6.1
Average Size 4 bedrooms, 2.5 baths of 2,698 sq ft
Average $ per square foot……… $ 125.40
For the 55 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for April $ 263,810
Median Price …………………… $ 257,500
Sales Price/List Price Ratio ……… 97 %
Average Days on Market ………….. 87
Months of Inventory …………… 9.7
Average Size 4 bedrooms, 2.5 baths 2,152 sq ft
Average $ per square foot ……….. $ 123.99
For 98 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for April $ 283,045
Median Price …………………….. $ 242,000
Sales Price List Price Ratio ……. 97 %
Average Days on Market ………….. 72
Months of Inventory ……………. 7.7
Average Size 4 bedrooms, 2.5 baths of 2,442 sq ft
Average $ per square foot……….. $ 114.43
As we enter the historic Spring Market period, it will be interesting to see if we have one. Frankly, I think the last Spring Market was ’06. The Spring Market has always been stoked by folks making the school district move. Stay tuned and we’ll if the Spring Market comes to fruitition. Anyway, here are West End Sales for April and year to date. 
