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The Richmond Housing Market Trends

Index Abbotsford Burnaby North Burnaby Chilliwack Coquitlam North Delta Delta Ladner Langley N. Langley Maple Ridge Mission New West Port Coquitlam Port Moody Richmond Surrey West Surrey East South Surrey White Rock Vancouver Westside Downtown-West End Yaletown East Vancouver West Van North Van

Richmond Market Reports and Forecasts Previous Reports

Richmond Market Update (Detached) namely: Lackner, Riverdale, Granville, Seafair, Broadmoor and all the sub-areas of Richmond Real Estate Market Update Report.

May 1, 2013

Current: Richmond is in a Buyers Market with Record Listings, a very very low 9 %SOLD rate and a 93% Sell/List Ratio. (This means that there is an average of a $70,000 discount on a sale from the original list price) (Lesson)

Most Active Range: Homes between $700,000-$800,000 have 14.3 %SOLD rate.
Least Active Range: Homes between $1.5 million-$1.75 million have a LOW 3.1 %SOLD rate (meaning that there is 3 sale out of 100 listings/ month)

History: The Richmond Home Price Index HPIp (Lower 50%) shows that prices decreased $66,352 in 2012.
The Richmond Home Price Index HPIp (Higher 50%) shows that prices decreased $114,677 in 2012.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Richmond has 966 homes are for sale and with the low 9 %SOLD monthly rate gives us a ~11 months of inventory. At this sell through rate, approximately 661 of these listings will not sell at this sell through rate. Currently 25% of the active listings have reduced their price by $96,019 on average or $70,000 median. The Spring Fever and the Election Resolve should inspire a new buyers confidence and we expect the buyers to be out in full force taking advantage of our great market incentives with these lower costs of ownership.

The Richmond City Real Estate Market update which includes sub-areas such as Granville, Seafair, Broadmoor, Lackner, Riverdale are Sponsored by Biggar Group, RE/MAX West Coast.
We thank Taylor and Larry Biggar for their support of these Market Updates. Contact Ed as the Local Expert. more details

Download the full RichmondMarketupdatereport.PDF

The Richmond City Real Estate Market report includes sub-areas such as Riverdale RI, Granville, Broadmoor, Lackner, Seafair etc

Click Image to compare previous STR/ MTI graphs Trying to do the math? Lessons: STR MTI

Ladner, South Delta, Real Estate Market Update Report

The Richmond City Market Statistics includes sub-areas such as Seafair, Riverdale RI, Granville, Lackner, Broadmoor etc

Richmond + Ladner STR

This is the most accurate %SOLD-Monthly Sell Through Rates (STR Graph) using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks.

Real Estate Market Richmond , South Delta,Ladner Update Report.

Richmond Proper

Study Criteria (Richmond Proper) Home size: 1500-2800 sqft,, Lot: 3800 7000 sqft, Age: 10-50 yrs, Bedrooms: 3-6

Archives March 2. 2011: May 15 2011

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