Is Richmond, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Richmond has remained a Seller's Market.
Housing Prices in Richmond, CA
How much do homes in Richmond, CA cost?
Median Sold Price
$650,000
$516/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Richmond was $650,000 in April 2024, down 2.3% from last year, and the median price per square foot was $516.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $409.7K | $405K | -1.2% |
2 Bedrooms | $578.7K | $585K | +1.1% |
3 Bedrooms | $700K | $683.5K | -2.4% |
4 Bedrooms | $830K | $816K | -1.7% |
5+ Bedrooms | $980K | $970K | -1.0% |
Summary: Richmond housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 1.1%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
San Pablo | $565K | $610K | +8.0% |
Pinole | $755K | $750K | -0.7% |
West Contra Costa | $725.2K | $718.1K | -1.0% |
Richmond | $665K | $650K | -2.3% |
El Cerrito | $1.2M | $1.1M | -3.8% |
Housing Supply in Richmond, CA
How many homes are available in Richmond, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
168 | 194 | +15.5% |
Summary: The Richmond real estate market had 194 homes for sale in April 2024, a 15.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 14 | +16.7% |
2 Bedrooms | 40 | 47 | +17.5% |
3 Bedrooms | 82 | 96 | +17.1% |
4 Bedrooms | 29 | 30 | +3.4% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Richmond housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
58 | 55 | -5.2% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Richmond in April 2024, down by 5.2% month-over-month. Of the 52 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% were sold over asking.
Days on Market for Richmond, CA
How long does it take to sell a home in Richmond, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 25 Days | +34.3% |
Summary: Homes in Richmond had an average of 25 days on market in Apr 2024, up by 34.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 55 homes were sold in Richmond; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.