You have no comprehension of how much this post pains me to write. While I am still waiting for CVMLS (Central Virginia Multiple Listing Service) to post their official numbers for September, my preliminary ones indicate an approximate 16% drop in sales for September ‘07 versus September ‘06. This should bring the year to date decline in ‘07 sales from ‘06 sales to about 7 %. September sales showed 70% of all sales occurring at price point below $300,000 in contrast with the year to date average of 66%. See, there are some bright spots in this market!

Here’s the September breakdown:  

Metro Richmond Area Sales for September 2007
Price Range  # of Sales % of Ttl Sales
0 - 99,999 58 7.45%
100,000 - 199,999 226 29.01%
200,000 - 299,999 266 34.15%
300,000 - 399,999 119 15.28%
400,000 - 499,999 41 5.26%
500,000 - 599,999 25 3.21%
600,000 - 699,999 12 1.54%
700,000 - 799,999 14 1.80%
800,000 - 899,999 6 0.77%
900,000 - 999,999 2 0.26%
1 Million plus 10 1.28%
Total Sales/Pct. 779 100.00%
The YTD numbers are as follows:

Metro Richmond Area Sales through September 2007
Price Range  # of Sales % of Ttl Sales
0 - 99,999 421 4.29%
100,000 - 199,999 2,793 28.43%
200,000 - 299,999 3,330 33.90%
300,000 - 399,999 1,639 16.69%
400,000 - 499,999 743 7.56%
500,000 - 599,999 345 3.51%
600,000 - 699,999 212 2.16%
700,000 - 799,999 126 1.28%
800,000 - 899,999 77 0.78%
900,000 - 999,999 49 0.50%
1 Million plus 88 0.90%
Total Sales/Pct. 9,823 100.00%
These sales apply only to the following areas of the Central Virginia Multiple Listing Service - City of Richmond (Areas 10, 20, 30, 40, 50, 60), County of Henrico (Areas 22, 32, 34, 42), Chesterfield County (Areas 52, 54, 62, 64), Hanover County (Areas 36, 44), Goochland County (Area 24) and Powhatan County (Area 66).