I’ve got just one word …. “consistent” …. that’s the best description of Richmond’s market at present. September marked a few less sales than August. And August marked a few less sales than July, but I’m not yet running around like Chicken Little claiming the sky is falling. Now, I might revert to that stance come December and we find this “consistent” market is all a result of the $8,000 First Time Buyer Credit. 

Here’s the snapshot:

 

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 September $ 307,893

Median Sales Price ……………   $ 300,012

Sales Price/List Price Ratio …….. 95 %

Days on Market …………………….. 51

Months of Inventory …………..  7.1

Average Size 3 bedrooms 1.5 baths of 1,920 sq ft

Average $ per square foot ……….$ 161.43

 

For the 15 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in September $ 442,900

Median Price ………………………  $ 262,000

Sales Price/List Price Ratio ……. 96 %

Days on Market ……………………. 52

Months of Inventory ………….. 7.4

Average Size 3 bedrooms, 2.5 baths of 2,077 sq ft

Average $ per square foot……..   $ 186.64

 

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

(Zip 23227 Holton School District)

Average Sales Price in September $ 207,166

Median Price ………………………  $ 211,000

Sales Price/List Price Ratio ……. 97 %

Days on Market ……………………. 58

Months of Inventory ………….  12.5

Average Size 3 bedrooms, 1.5 baths of 1,528 sq ft

Average $ per square foot……..   $ 139.66

 

For the 21 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in September $ 203,075

Median Price ………………………  $ 196,500

Sales Price/List Price Ratio ……. 97 %

Days on Market ……………………. 64

Months of Inventory ………….  9.3

Average Size 3 bedrooms, 1.5 baths of 1,680 sq ft

Average $ per square foot……..   $ 121.69

 

For the 65 single family homes sold in West End of Henrico County

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

Average Sales Price in September $ 315,170

Median Sales Price ……………    $ 250,000

Sales Price/List Price Ratio ……….  97 %

Days on Market …………………….    72

Months of Inventory ………….     6.9

Average Size 4 bedrooms 2.5 baths of 2,370 sq ft

Average $ per square foot ………. $ 130.06

 

For the 107 single family homes sold in Chesterfield

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

Average Sales Price for September $ 237,224

Median Sales Price …………… $ 200,000

Sales Price/List Price Ratio ……..  97 %

Average Days on Market……………. 77

Months of Inventory ……………..  10.1

Average Size 4 bedroom, 2.5 baths of 2,197 square ft

Average $ per square foot ………..$ 109.61

 

For the 48 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for September $ 337,721

Median Sales Price………………   $ 327,500

Sales Price/List Price Ratio ………  96.1 %

Average Days on Market ………….  75

Months of Inventory ……………   8.2

Average Size 4 bedrooms, 2.5 baths of 2,677 sq ft

Average $ per square foot……… $ 125.62

 

For the 55 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for September $ 248,505

Median Price ……………………     $ 227,345

Sales Price/List Price Ratio ……… 96 %

Average Days on Market ………….. 80

Months of Inventory ……………  8.7

Average Size 3 bedrooms, 2.5 baths 2,000 sq ft

Average $ per square foot ……….. $ 125.90

 

For 93 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for September $ 281,439

Median Price ……………………..   $ 265,000

Sales Price List Price Ratio …….    97 %

Average Days on Market …………..  73

Months of Inventory …………….  7.0

Average Size 4 bedrooms, 2.5 baths of 2,461 sq ft

Average $ per square foot……….. $ 114.45