When I started to compile this information for October, I initially had a horrific sinking feeling as each market segment of this report had a significant drop in the number of sales. Now that I begin to compose my thoughts and can reflect back on October, I can only say ”the Richmond real estate market is INCREDIBLE.” Talk about resilient. Yes, we had about 20 % less sales than the preceding month, but that we had any sales is just amazing. Remember the daily whipsaw of the Dow? How about every news report drawing comparisons to the Great Depression? Was it possible to hear any worst news? I’ll have more to say as the week progresses, but here’s the quick look at October’s sales.

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 October $ 327,796

Median Sales Price ……………   $ 295,500

Sales Price/List Price Ratio …….. 95.9 %

Days on Market …………………….. 39

Average Size 3 bedrooms 2.5 baths of 1,873 sq ft

Average $ per square foot ……….$ 175.01

 

For the 19 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in October $ 393,615

Median Price ………………………  $ 316,250

Sales Price/List Price Ratio ……. 97.0 %

Days on Market ……………………. 39

Average Size 3 bedrooms, 2.5 baths of 2,163 sq ft

Average $ per square foot……..   $ 181.98

 

For the 47 single family homes sold in West End of Henrico County

(Zips 23226, 23229, 23230, 23233, 23238)

Average Sales Price in October $ 319,460

Median Sales Price ……………    $ 272,000

Sales Price/List Price Ratio ……….  95.2 %

Days on Market …………………….    65

Average Size 4 bedrooms 2.5 baths of 2,265 sq ft

Average $ per square foot ………. $ 141.04

 

For the 60 single family homes sold in Chesterfield

(Zips 23831, 23832, 23834, 23836, and 23838)

Average Sales Price for October $ 263,327

Median Sales Price …………… $ 230,000

Sales Price/List Price Ratio ……..  97.3 %

Average Days on Market……………. 72

Average Size 4 bedroom, 2.5 baths of 2,274 square ft

Average $ per square foot ………..$ 115.80

 

For the 39 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for October $ 327,309

Median Sales Price………………  $ 282,500

Sales Price/List Price Ratio ………  97.5 %

Average Days on Market ………….  63

Average Size 4 bedrooms, 2.5 baths of 2,464 sq ft

Average $ per square foot……… $ 132.84

 

For the 42 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for October $ 337,483

Median Price ……………………     $ 263,000

Sales Price/List Price Ratio ……… 97.7 %

Average Days on Market ………….. 55

Average Size 4 bedrooms, 2.5 baths 2,336 sq ft

Average $ per square foot ……….. $ 144.47

 

For 85 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for October $ 299,560

Median Price ……………………..   $ 269,000

Sales Price List Price Ratio …….    97.8 %

Average Days on Market …………..  77

Average Size 4 bedrooms, 2.5 baths of 2,395 sq ft

Average $ per square foot……….. $ 125.08

 If you would like an area not covered above to be included each month, please let me know. If the area has enough sales activity, I’ll be delighted to include it in this reporting.