Here’s a sobering comparison - January 2008 and January 2007. How’s this for a number - 34.7 % less homes sold in January ’08 as compared to ‘07. Now that should get someone’s attention at your next cocktail party. Actually, the rest of the numbers are almost identical - like 70% of all sales occured at under the $300,000 price point and 90 % of the market activity was under the $500,000 price barrier.

  Metro Richmond Area Sales for January 2008
2008 2007
Price Range  # of Sales % of Ttl Sales # of Sales % of Ttl Sales
0 - 99,999 28 5.61% 47 6.14%
100,000 - 199,999 150 30.06% 254 33.20%
200,000 - 299,999 171 34.27% 233 30.46%
300,000 - 399,999 65 13.03% 121 15.82%
400,000 - 499,999 36 7.21% 50 6.54%
500,000 - 599,999 23 4.61% 25 3.27%
600,000 - 699,999 12 2.40% 13 1.70%
700,000 - 799,999 5 1.00% 8 1.05%
800,000 - 899,999 3 0.60% 4 0.52%
900,000 - 999,999 0 0.00% 5 0.65%
1 Million plus 6 1.20% 5 0.65%
Total Sales/Pct. 499 100.00% 765 100.00%