Is Richmond, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$511/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richmond was $650,000 in March 2024, down 3% from last year, and the median price per square foot was $511.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $419K | $401.2K | -4.2% |
2 Bedrooms | $582.5K | $580K | -0.4% |
3 Bedrooms | $717.1K | $686.2K | -4.3% |
4 Bedrooms | $835K | $801.5K | -4.0% |
5+ Bedrooms | $1.0M | $950K | -5.8% |
Summary: Richmond housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Cities
San Pablo | $560K | $608K | +8.6% |
Pinole | $762K | $751K | -1.4% |
Richmond | $670.1K | $650K | -3.0% |
West Contra Costa | $738.4K | $715.4K | -3.1% |
El Cerrito | $1.2M | $1.1M | -8.0% |
Housing Supply in Richmond, CA
How many homes are available in Richmond, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
165 | 177 | +7.3% |
Summary: The Richmond real estate market had 177 homes for sale in March 2024, a 7.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 12 | +20.0% |
2 Bedrooms | 38 | 41 | +7.9% |
3 Bedrooms | 77 | 90 | +16.9% |
4 Bedrooms | 35 | 27 | -22.9% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Richmond housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 16.9%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 58 | +23.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in Richmond in March 2024, up by 23.4% month-over-month. Of the 55 sold homes, 33% were sold under asking, 20% were sold at asking, and 47% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 39 Days | +23.2% |
Summary: Homes in Richmond had an average of 39 days on market in Mar 2024, up by 23.2% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 58 homes were sold in Richmond; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.