So what do December sales figures show? Many things; and I can only hope it’s the start of some positive trends. Inventory levels for November to December are down 10 %. Inventory levels are presently at their lowest level since June ’07. There was a big jump in units sold in December over November. Up 22 % over November’s number, and nice reversal of the downward trend we’ve been seeing since September. I’m not doing a jig yet, but I am seeing many more buyers in the market. Now the trick is to convert these lookers to owners. Again, I am now covering 2 new areas – South of the Rivah in the City (i.e., Zip Code 23225) and the Bellevue area in the Northside of the City (i.e., Zip Code 23227 in Holton School district.) If you’d like to see a specific area covered, please let me know. I’ll update year to date sales later this week. Here’s the snapshot:

 

For the 13 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 $ 377,873

Median Sales Price ……………   $ 369,000

Sales Price/List Price Ratio …….. 92.2 %

Days on Market …………………….. 85

Average Size 3 bedrooms 2.5 baths of 2,347 sq ft

Average $ per square foot ……….$ 161.00

 

For the 9 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in December $ 345,888

Median Price ………………………  $ 265,000

Sales Price/List Price Ratio ……. 95.1 %

Days on Market ……………………. 50

Average Size 3 bedrooms, 2.5 baths of 1,916 sq ft

Average $ per square foot……..   $ 180.53

 

For the 6 homes sold on the Northside of the City of Richmond

(Zips 23227 Holton School District)

Average Sales Price in December $ 244,416

Median Price ………………………  $ 244,500

Sales Price/List Price Ratio ……. 95.3 %

Days on Market ……………………. 37

Average Size 3 bedrooms, 1.5 baths of 1,667 sq ft

Average $ per square foot……..   $ 146.62

 

For the 16 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in December $ 82,495

Median Price ………………………  $ 164,000

Sales Price/List Price Ratio ……. 96.8 %

Days on Market ……………………. 78

Average Size 3 bedrooms, 2.5 baths of 1,673 sq ft

Average $ per square foot……..   $ 105.81

 

For the 57 single family homes sold in West End of Henrico County

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

Average Sales Price in December $ 323,184

Median Sales Price ……………    $ 262,500

Sales Price/List Price Ratio ……….  96.3 %

Days on Market …………………….    66

Average Size 4 bedrooms 2.5 baths of 2,410 sq ft

Average $ per square foot ………. $ 134.10

 

For the 77 single family homes sold in Chesterfield

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

Average Sales Price for December $ 279,752

Median Sales Price …………… $ 237,500

Sales Price/List Price Ratio ……..  94.9 %

Average Days on Market……………. 70

Average Size 4 bedroom, 2.5 baths of 2,410 square ft

Average $ per square foot ………..$ 116.56

 

For the 44 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for December $ 370,202

Median Sales Price………………  $ 325,000

Sales Price/List Price Ratio ………  96.1 %

Average Days on Market ………….  71

Average Size 4 bedrooms, 2.5 baths of 2,718 sq ft

Average $ per square foot……… $ 136.20

 

For the 33 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for December $ 309,316

Median Price ……………………     $ 262,500

Sales Price/List Price Ratio ……… 95.0 %

Average Days on Market ………….. 92

Average Size 4 bedrooms, 2.5 baths 2,386 sq ft

Average $ per square foot ……….. $ 129.64

 

For 60 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for December $ 345,663

Median Price ……………………..   $ 262,500

Sales Price List Price Ratio …….    95.9 %

Average Days on Market …………..  86

Average Size 4 bedrooms, 3.5 baths of 2,859 sq ft

Average $ per square foot……….. $ 120.90