Last month, I wondered if the Richmond Real Estate Market had turned the corner. Looking at June’s numbers, I am certainly more encouraged. While 2 months are not sufficient to start crooning “Happy Days are Here Again”, it only confirms my everlasting respect for how resilient Richmond’s Real Estate Market remains. Let me just tease you with a few observations, which I will expound upon in the coming days. June ’09 sales were up over 37 % over May ’09 sales. June ’09 sales were almost flat ( .5 % less – that’s POINT 5) when compared with June ’08. Considering ’09 has been lagging ’08 year to date by about 23 %, June numbers are “De Lovely”. Sorry for the song references, maybe I am ready to start crooning. Anyway, here’s the snapshot:

For the 24 single family homes sold in

Fan & Museum District of the City of Richmond

(Fox and John B. Cary School Districts)

Average Sales Price in June $ 411,956

Median Sales Price ……………   $ 376,500

Sales Price/List Price Ratio …….. 94.3 %

Days on Market …………………….. 60

Average Size 4 bedrooms 2.5 baths of 2,424 sq ft

Average $ per square foot ……….$ 169.95

 

For the 39 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in June $ 368,073

Median Price ………………………  $ 295,500

Sales Price/List Price Ratio ……. 96.8 %

Days on Market ……………………. 39

Average Size 3 bedrooms, 2.5 baths of 2,006 sq ft

Average $ per square foot……..   $ 183.49

 

For the 13 homes sold on the Northside of the City of Richmond

(Zip 23227 Holton School District)

Average Sales Price in June $ 275,673

Median Price ………………………  $ 224,600

Sales Price/List Price Ratio ……. 96.1 %

Days on Market ……………………. 47

Average Size 4 bedrooms, 2.5 baths of 1,979 sq ft

Average $ per square foot……..   $ 139.30

 

For the 30 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in June $ 202,264

Median Price ………………………  $ 191,700

Sales Price/List Price Ratio ……. 97.3 %

Days on Market ……………………. 80

Average Size 3 bedrooms, 2.5 baths of 1,685 sq ft

Average $ per square foot……..   $ 120.04

 

For the 108 single family homes sold in West End of Henrico County

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

Average Sales Price in June $ 302,319

Median Sales Price ……………    $ 274,950

Sales Price/List Price Ratio ……….  96.7 %

Days on Market …………………….    53

Average Size 4 bedrooms 2.5 baths of 2,181 sq ft

Average $ per square foot ………. $ 138.61

 

For the 105 single family homes sold in Chesterfield

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

Average Sales Price for June $ 254,277

Median Sales Price …………… $ 218,000

Sales Price/List Price Ratio ……..  96.8 %

Average Days on Market……………. 78

Average Size 4 bedroom, 2.5 baths of 2,258 square ft

Average $ per square foot ………..$ 112.59

 

For the 87 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for June $ 341,053

Median Sales Price………………  $ 312,000

Sales Price/List Price Ratio ………  96.7 %

Average Days on Market ………….  64

Average Size 4 bedrooms, 2.5 baths of 2,618 sq ft

Average $ per square foot……… $ 130.27

 

For the 45 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for June $ 256,799

Median Price ……………………     $ 237,000

Sales Price/List Price Ratio ……… 96.7 %

Average Days on Market ………….. 75

Average Size 4 bedrooms, 2.5 baths 2,059 sq ft

Average $ per square foot ……….. $ 124.72

 

For 150 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for June $ 311,933

Median Price ……………………..   $ 264,000

Sales Price List Price Ratio …….    96.5 %

Average Days on Market …………..  86

Average Size 4 bedrooms, 2.5 baths of 2,567 sq ft

Average $ per square foot……….. $ 121.52