Brick’s Blog

     Yesterday, I commented on the encouraging news that October marked the first month to month comparison in 2 years where the current October sales exceeded the previous 2 years.  In looking at the submarket of the West End, there are also some insights to be gleaned. West End sales represent slightly over 20 % of the total area sales. Unlike the overall market where over 75 % of sale activity occurs under the $300,000 mark, the West End, due to its desirability, has more sales at price ranges above the $300,000 than other areas. Yet this is a two edged sword, since the West End has also experienced the greatest drop in high end sales. Nowhere is this better revealed than in the million dollar sales. In ’07, there were 111 million dollar sales in the Richmond area. 75 or 67.5 % of these sales were in the West End. In ’08, million dollar sales had dropped some 20 % to 88, yet the West End still had 46 or 52.3 % of the total. With only 2 months to go in ’09, there have only been 29 million dollar sales in the Richmond area with 11 or 37.9 % of the total being in the West End.  Anyway, here are the sales in the West End for October and year to date.