Brick’s Blog

      December? Boy, looking at these numbers makes me almost believe we’ve bottomed out. More single family unit sales than November, October, or September. The Sales Price/List Price showed little discounting. And maybe the best number … units for sale were down 1,300 from November and over 2,700 from August. We’re at a very manageable inventory level presently. Maybe this is like our national unemployment number and not reflecting those who have given up trying to sell their home, but it sure makes things look better when there is less inventory. Time will tell as we progress into 2011.

Here’s the Market Snapshot for December 2010:

For the 14 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in December $ 420,232
Median Sales Price …………..   $ 413,500
Sales Price/List Price Ratio …….. 95 %
Days on Market ………………… 44
Months of Inventory …………..  5.4
Average Size 3 bedrooms 2.5 baths of 2,322 sq ft
Average $ per square foot ……….$ 175.36

For the 15 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in December $ 527,200
Median Price …………………… $ 353,500
Sales Price/List Price Ratio ……. 96 %
Days on Market ………………… 114
Months of Inventory ………….. 6.9
Average Size 4 bedrooms, 3.5 baths of  2,885 sq ft
Average $ per square foot……..   $ 170.08
 
For the 6 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in December $ 223,483
Median Price ……………….  $ 210,000
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 74
Months of Inventory ………….  8.33
Average Size 4 bedrooms, 2.5 baths of 2,166 sq ft
Average $ per square foot……..   $ 98.51
 
For the 10 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in December $ 146,801
Median Price ……………….. $ 147,800
Sales Price/List Price Ratio ……. 94 %
Days on Market ………………… 47
Months of Inventory ………….  17.5
Average Size 3 bedrooms, 2.5 baths of 1,767 sq ft
Average $ per square foot……..   $ 81.22

For the 67 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in December $ 320,441
Median Sales Price …………….  $ 279,000
Sales Price/List Price Ratio ……….  95 %
Days on Market ……………….    95
Months of Inventory ………….     4.8
Average Size 4 bedrooms 2.5 baths of 2,489 sq ft
Average $ per square foot ………. $ 125.97
 
For the 89 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for December $ 241,117
Median Sales Price ………….. $ 216,500
Sales Price/List Price Ratio ……..  97 %
Average Days on Market………… 81
Months of Inventory ……………..  8.8
Average Size 4 bedroom, 2.5 baths of 2,422 square ft
Average $ per square foot ………..$ 98.87

For the 47 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for December $ 325,351
Median Sales Price…………… $ 249,950
Sales Price/List Price Ratio ………  98 %
Average Days on Market ………….  66
Months of Inventory ……………   6.9
Average Size 4 bedrooms, 2.5 baths of 2,748 sq ft
Average $ per square foot……… $ 114.97
 
For the 43 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for December $ 250,624
Median Price …………………  $ 235,000
Sales Price/List Price Ratio ……… 97 %
Average Days on Market ………….  89
Months of Inventory ……………  9.0
Average Size 4 bedrooms, 2.5 baths 2,270 sq ft
Average $ per square foot ……….. $ 113.85
 
For 66 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for December $ 315,629
Median Price ………………… $ 274,475
Sales Price List Price Ratio …….    96 %
Average Days on Market ………… 99
Months of Inventory …………….  8.7

Average Size 4 bedrooms, 2.5 baths of 2,783 sq ft
Average $ per square foot……….. $ 109.46

     Here are the Bank Owned Weekly lists for the week of January 9,  2011.  Last week, several subscribers raised their hands and one of them has a fantastic deal “under contract”.  So don’t be bashful about raising your hand to ask a question or see something. I am never too busy to help you. And if you have friends, who might like to receive this info have them register at the links below.

 To receive Bank Owned Weekly for the West End of Richmond, click here.

To receive Bank Owned Weekly for Glen Allen, click here.

To receive Bank Owned Weekly for Western Chesterfield, click here.

Here are the links for Bank Owned Weekly for January 9^th  for Single Family Homes:

Group 1 of Single Family Homes in West End Richmond. 

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

     And here are the lists for Bank Owned Townhouses and Condominiums in the same coverage areas for the week of January 9, 2011:

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 2 of Townhouses and Condominiums for West End Richmond.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

     I want to remind you and any of your friends that My Renovation Financing Workshop is fast approaching. Make plans now to attend our inaugural event on Wednesday, January 12^th, 2011 @ 7 p.m. You can still register for this event by calling 1.877.879.8118 extension 8.

     Here are the First Lists of Bank Owned Weekly for 2011. While I have several hundred subscribers to these lists, I don’t know if you’re out there until you raise your hand and ask a question. PLEASE speak up and let me know you’re out there and find BANK OWNED WEEKLY of value. And if you have friends, who might like to receive this info have them register at the links below.

 To receive Bank Owned Weekly for the West of Richmond, click here.

To receive Bank Owned Weekly for Glen Allen, click here.

To receive Bank Owned Weekly for Western Chesterfield, click here.

Here are the links for Bank Owned Weekly for January 2^nd  for Single Family Homes:

Group 1 of Single Family Homes in West End Richmond. 

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

     And I am pleased to announce that starting in 2011 I will also be supplying lists for Bank Owned Townhouses and Condominiums in the same coverage areas:

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 2 of Townhouses and Condominiums for West End Richmond.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

     I want to remind you and any of your friends that My Renovation Financing Workshop is fast approaching. Make plans now to attend our inaugural event on Wednesday, January 12^th, 2011 @ 7 p.m. You have two convenient ways to register for this event. You can call 1.877.879.8118 extension 8 or you can register online here:

 Let’s make 2011 memorable!

     November marked a drop in unit sales of about 8 % from October’s number which is historically what we see this time of year as we move into the Holidays. Overall inventory also fell with levels now 10 % below where they stood in August. Again, this is more of an indication of the season than the sales activity. The listing price/sales price ratio was lower this month signaling that buyers got slightly better discounts than in previous months. This is another seasonal indication, since there are fewer buyers in the market this time of year. Hopefully, November’s election will restore some consumer confidence which is what the market needs more than anything.

Here’s the Market Snapshot for November 2010:

For the 10 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in November $ 377,886
Median Sales Price …………..   $ 343,900
Sales Price/List Price Ratio …….. 94 %
Days on Market ………………… 85
Months of Inventory …………..  9.6
Average Size 3 bedrooms 2.5 baths of 2,239 sq ft
Average $ per square foot ……….$ 165.91

For the 19 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in November $ 447,521
Median Price …………………… $ 399,000
Sales Price/List Price Ratio ……. 95 %
Days on Market ………………… 58
Months of Inventory ………….. 6.1
Average Size 4 bedrooms, 2.5 baths of  2,399 sq ft
Average $ per square foot……..   $ 182.85
 
For the 7 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in November $ 210,092
Median Price ……………….  $ 226,500
Sales Price/List Price Ratio ……. 91 %
Days on Market ………………… 57
Months of Inventory ………….  7.1
Average Size 3 bedrooms, 1.5 baths of 1,540 sq ft
Average $ per square foot……..   $ 142.31
 
For the 25 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in November $ 135,664
Median Price ……………….. $ 103,000
Sales Price/List Price Ratio ……. 91 %
Days on Market ………………… 76
Months of Inventory ………….  8.2
Average Size 3 bedrooms, 1.5 baths of 1,562 sq ft
Average $ per square foot……..   $ 86.15

For the 49 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in November $ 292,331
Median Sales Price …………….  $ 244,500
Sales Price/List Price Ratio ……….  95 %
Days on Market ……………….    76
Months of Inventory ………….     7
Average Size 4 bedrooms 2.5 baths of 2,283 sq ft
Average $ per square foot ………. $ 124.25
 
For the 74 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for November $ 247,648
Median Sales Price ………….. $ 210,000
Sales Price/List Price Ratio ……..  96 %
Average Days on Market………… 94
Months of Inventory ……………..  11.8
Average Size 4 bedroom, 2.5 baths of 2,363 square ft
Average $ per square foot ………..$ 103.08

For the 53 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for November $ 297,707
Median Sales Price…………… $ 285,000
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  66
Months of Inventory ……………   6.5
Average Size 4 bedrooms, 2.5 baths of 2,488 sq ft
Average $ per square foot……… $ 119.05
 
For the 33 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for November $ 284,626
Median Price …………………  $ 263,000
Sales Price/List Price Ratio ……… 97 %
Average Days on Market ………….  77
Months of Inventory ……………  13.3
Average Size 4 bedrooms, 2.5 baths 2,440 sq ft
Average $ per square foot ……….. $ 116.88
 
For 61 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for November $ 292,760
Median Price ………………… $ 254,700
Sales Price List Price Ratio …….    97 %
Average Days on Market ………… 62
Months of Inventory …………….  10
Average Size 4 bedrooms, 2.5 baths of 2,577 sq ft
Average $ per square foot……….. $ 111.54

      October 2010 looks like a repeat of September. October units sold were almost identical to the prior month’s total. I am hoping we really are banging along at the bottom on this market. Last week’s news that CarMax and Cap One were adding jobs was welcome news, since Richmond typically emerges earlier from these downturns than other areas of the country. And as you all know, this downturn has lasted too long.

Here’s the Market Snapshot for October 2010:

For the 6 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in October $ 351,750
Median Sales Price …………..   $ 365,000
Sales Price/List Price Ratio …….. 93 %
Days on Market ………………… 50
Months of Inventory …………..  18.3
Average Size 4 bedrooms 2.5 baths of 2,384 sq ft
Average $ per square foot ……….$ 136.78

For the 13 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in October $ 366,519
Median Price …………………$ 298,250
Sales Price/List Price Ratio ……. 96 %
Days on Market ………………… 48
Months of Inventory ………….. 8.8
Average Size 3 bedrooms, 2.5 baths of  1,853 sq ft
Average $ per square foot……..   $ 187.96
 
For the 4 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in October $ 243,875
Median Price ……………….  $ 239,000
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 41
Months of Inventory ………….  13.0
Average Size 3 bedrooms, 2.5 baths of 1,620 sq ft
Average $ per square foot……..   $ 150.75
 
For the 14 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in October r $ 211,761
Median Price ……………….. $ 194,950
Sales Price/List Price Ratio ……. 94 %
Days on Market ………………… 66
Months of Inventory ………….  14.4
Average Size 3 bedrooms, 2.5 baths of 1,817 sq ft
Average $ per square foot……..   $ 120.07

For the 46 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in October $ 285,668
Median Sales Price …………  $ 232,650
Sales Price/List Price Ratio ……….  96 %
Days on Market ……………….    64
Months of Inventory ………….     9.3
Average Size 4 bedrooms 2.5 baths of 2,240 sq ft
Average $ per square foot ………. $ 126.59
 
For the 78 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for October $ 214,961
Median Sales Price ………….. $ 206,450
Sales Price/List Price Ratio ……..  96 %
Average Days on Market………… 81
Months of Inventory ……………..  11.6
Average Size 4 bedroom, 2.5 baths of 2,221 square ft
Average $ per square foot ………..$ 97.37

For the 47 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for October $ 315,558
Median Sales Price…………… $ 295,000
Sales Price/List Price Ratio ………  95 %
Average Days on Market ………….  60
Months of Inventory ……………   7.0
Average Size 4 bedrooms, 2.5 baths of 2,711 sq ft
Average $ per square foot……… $ 112.75
 
For the 48 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for October $ 254,334
Median Price …………………  $ 237,500
Sales Price/List Price Ratio ……… 96 %
Average Days on Market ………….  72
Months of Inventory ……………  10.4
Average Size 4 bedrooms, 2.5 baths 2,240 sq ft
Average $ per square foot ……….. $ 113.65
 
For 68 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for October $ 289,472
Median Price ………………… $ 240,000
Sales Price List Price Ratio …….    96 %
Average Days on Market ………… 66
Months of Inventory …………….  10.1
Average Size 4 bedrooms, 2.5 baths of 2,535 sq ft
Average $ per square foot……….. $ 111.09 

     My apologies once again this month. I have had these stats done for several days, but just couldn’t find the time to write this observation. The market continues to limp along despite incredible interest rates and an abundance of inventory. It looks like the so-called Foreclosure Moratorium will be short lived, which is great. No matter how you slice it, if you’re behind/have quit paying your mortgage than you’re delinquent. No attorney can change that fact by creating a smoke screen over the handling of the foreclosure documents. Anyway, here’s the snapshot for September:

For the 9 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in September $ 387,151
Median Sales Price …………..   $ 307,500
Sales Price/List Price Ratio …….. 96 %
Days on Market ………………… 29
Months of Inventory …………..  14.4
Average Size 3 bedrooms 2.5 baths of 2,208 sq ft
Average $ per square foot ……….$ 175.21

For the 13 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in September  $ 411,626
Median Price …………………$ 324,950
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 63
Months of Inventory ………….. 10.5
Average Size 3 bedrooms, 2.5 baths of  2,463 sq ft
Average $ per square foot……..   $ 162.46
 
For the 2 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in September $ 122,500
Median Price ……………….  $ 122,500
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 142
Months of Inventory ………….  37
Average Size 3 bedrooms, 1.5 baths of 1,244 sq ft
Average $ per square foot……..   $ 96.51
 
For the 22 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in September $ 151,420
Median Price ……………….. $ 122,000
Sales Price/List Price Ratio ……. 93 %
Days on Market ………………… 71
Months of Inventory ………….  9.0
Average Size 3 bedrooms, 2.5 baths of 1,638 sq ft
Average $ per square foot……..   $ 89.80

For the 50 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in September $ 331,313
Median Sales Price …………  $ 263,650
Sales Price/List Price Ratio ……….  96 %
Days on Market ……………….    76
Months of Inventory ………….     9.4
Average Size 4 bedrooms 2.5 baths of 2,571 sq ft
Average $ per square foot ………. $ 125.14
 
For the 83 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for September $ 250,414
Median Sales Price ………….. $ 227,000
Sales Price/List Price Ratio ……..  96 %
Average Days on Market………… 80
Months of Inventory ……………..  11.4
Average Size 4 bedroom, 2.5 baths of 2,527 square ft
Average $ per square foot ………..$ 100.02

For the 37 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for September $ 325,380
Median Sales Price…………… $ 289,000
Sales Price/List Price Ratio ………  97 %
Average Days on Market ………….  86
Months of Inventory ……………   10.6
Average Size 4 bedrooms, 2.5 baths of 2,727 sq ft
Average $ per square foot……… $ 117.26
 
For the 34 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for September $ 243,465
Median Price …………………  $ 247,500
Sales Price/List Price Ratio ……… 96 %
Average Days on Market ………….  91
Months of Inventory ……………  14.0
Average Size 4 bedrooms, 2.5 baths 2,093 sq ft
Average $ per square foot ……….. $ 117.28
 
For 70 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for September $ 315,661
Median Price ………………… $ 278,475
Sales Price List Price Ratio …….    98 %
Average Days on Market ………… 70
Months of Inventory …………….  10.5
Average Size 4 bedrooms, 2.5 baths of 2,819 sq ft
Average $ per square foot……….. $ 112.09

    I apologize for how late I am in posting this information. I had some computer problems about 10 days ago, which still aren’t rectified, but I am able to muddle along. My first impression of these stats are that they are all mortgage rate driven. Say what, Einstein. Of course, home sales are mortgage rate driven. And yes, you would hope that I would know that after 25 + years in this business, but my observation is this.  Average sales price and average home size were up across the board in all submarkets, which says to me that buyers got more bang for their buck in August. And since the same mortgage payment a month or two earlier now equates to a larger sales price and home, buyers are capitalizing on the rates.

Here’s the snapshot for August ’10:

For the 18 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in August $ 457,000
Median Sales Price …………..   $ 427,500
Sales Price/List Price Ratio …….. 95 %
Days on Market …………………….. 68
Months of Inventory …………..  7.0
Average Size 4 bedrooms 2.5 baths of 2,355 sq ft
Average $ per square foot ……….$ 185.64

For the 25 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in August $ 649,721
Median Price …………………$ 532,500
Sales Price/List Price Ratio ……. 94 %
Days on Market ……………………. 51
Months of Inventory ………….. 5.5
Average Size 4 bedrooms, 3.5 baths of  3,024 sq ft
Average $ per square foot……..   $ 195.44
 
For the 7 homes sold on the Northside of the City of Richmond
(Zip 23227 Holton School District)
Average Sales Price in August $ 279,442
Median Price ……………….  $ 305,000
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 96
Months of Inventory ………….  10.7
Average Size 4 bedrooms, 2.5 baths of 2,219 sq ft
Average $ per square foot……..   $ 121.75
 
For the 26 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in August $ 192,411
Median Price ……………….. $ 197,450
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 66
Months of Inventory ………….  8.3
Average Size 3 bedrooms, 2.5 baths of 1,820 sq ft
Average $ per square foot……..   $ 105.38

For the 64 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in August $ 341,189
Median Sales Price …………  $ 294,750
Sales Price/List Price Ratio ……….  96 %
Days on Market …………………….    60
Months of Inventory ………….     7.9
Average Size 4 bedrooms 2.5 baths of 2,582 sq ft
Average $ per square foot ………. $ 128.81
 
For the 79 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for August $ 253,308
Median Sales Price ………….. $ 221,700
Sales Price/List Price Ratio ……..  94 %
Average Days on Market……………. 89
Months of Inventory ……………..  12.4
Average Size 4 bedroom, 2.5 baths of 2,472 square ft
Average $ per square foot ………..$ 100.99

For the 54 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for August $ 357,600
Median Sales Price…………… $ 350,825
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  73
Months of Inventory ……………   7.3
Average Size 4 bedrooms, 3.5 baths of 2,938 sq ft
Average $ per square foot……… $ 120.84
 
For the 41 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for August $ 265,253
Median Price …………………  $ 240,000
Sales Price/List Price Ratio ……… 96 %
Average Days on Market …………..  62
Months of Inventory ……………  13.2
Average Size 4 bedrooms, 2.5 baths 2,241 sq ft
Average $ per square foot ……….. $ 121.68
 
For 75 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for August $ 327,539
Median Price ………………… $ 277,900
Sales Price List Price Ratio …….    97 %
Average Days on Market …………..  73
Months of Inventory …………….  10.3
Average Size 4 bedrooms, 3.5 baths of 2,827 sq ft
Average $ per square foot……….. $ 114.59 

For the 18 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in August $ 457,000
Median Sales Price …………..   $ 427,500
Sales Price/List Price Ratio …….. 95 %
Days on Market …………………….. 68
Months of Inventory …………..  7.0
Average Size 4 bedrooms 2.5 baths of 2,355 sq ft
Average $ per square foot ……….$ 185.64

For the 25 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in August $ 649,721
Median Price …………………$ 532,500
Sales Price/List Price Ratio ……. 94 %
Days on Market ……………………. 51
Months of Inventory ………….. 5.5
Average Size 4 bedrooms, 3.5 baths of  3,024 sq ft
Average $ per square foot……..   $ 195.44
 
For the 7 homes sold on the Northside of the City of Richmond
(Zip 23227 Holton School District)
Average Sales Price in August $ 279,442
Median Price ……………….  $ 305,000
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 96
Months of Inventory ………….  10.7
Average Size 4 bedrooms, 2.5 baths of 2,219 sq ft
Average $ per square foot……..   $ 121.75
 
For the 26 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in August $ 192,411
Median Price ……………….. $ 197,450
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 66
Months of Inventory ………….  8.3
Average Size 3 bedrooms, 2.5 baths of 1,820 sq ft
Average $ per square foot……..   $ 105.38

For the 64 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in August $ 341,189
Median Sales Price …………  $ 294,750
Sales Price/List Price Ratio ……….  96 %
Days on Market …………………….    60
Months of Inventory ………….     7.9
Average Size 4 bedrooms 2.5 baths of 2,582 sq ft
Average $ per square foot ………. $ 128.81
 
For the 79 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for August $ 253,308
Median Sales Price ………….. $ 221,700
Sales Price/List Price Ratio ……..  94 %
Average Days on Market……………. 89
Months of Inventory ……………..  12.4
Average Size 4 bedroom, 2.5 baths of 2,472 square ft
Average $ per square foot ………..$ 100.99

For the 54 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for August $ 357,600
Median Sales Price…………… $ 350,825
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  73
Months of Inventory ……………   7.3
Average Size 4 bedrooms, 3.5 baths of 2,938 sq ft
Average $ per square foot……… $ 120.84
 
For the 41 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for August $ 265,253
Median Price …………………  $ 240,000
Sales Price/List Price Ratio ……… 96 %
Average Days on Market …………..  62
Months of Inventory ……………  13.2
Average Size 4 bedrooms, 2.5 baths 2,241 sq ft
Average $ per square foot ……….. $ 121.68
 
For 75 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for August $ 327,539
Median Price ………………… $ 277,900
Sales Price List Price Ratio …….    97 %
Average Days on Market …………..  73
Months of Inventory …………….  10.3
Average Size 4 bedrooms, 3.5 baths of 2,827 sq ft
Average $ per square foot……….. $ 114.59

    Whew, I am glad all is right with the world now and I am current on posting West End home sales. I continue to be very busy, which is great problem to have in this market. The problem is while I am busy, it is not productive.  Buyers are still out there, but making them pull the trigger is a different story. Everyone wants the “slam dunk” deal.  Yes, they extraordinary deals are out there, but the ballgame can just as easily been won with lots of doubles and singles as opposed to the home run. Here are the sales for the West End in July.

    2 down 1 to go.  Here are June numbers. Now the interesting trend to watch will be whether the 2nd half of ’10 will be able to match the 1st half. My guess is no, unless there is a real confidence shift in this country.

     I know I haven’t posted West End sales for the months of May, June and July. I find myself with some extra time this a.m. so I thought I’d rectified that problem. Note how in May and June there is a spike in the number of sales. Just one more indicator of the effects of the $8,000 Tax Credit for 1st Time Home Buyers that initially had to settle before 6/30/10.