Is Richmond, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Richmond has remained a Seller's Market.
Housing Prices in Richmond, FL
How much do homes in Richmond, FL cost?
Median Sold Price
$510,518
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Richmond was $510,518 in February 2024, up 16% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $215K | +22.9% |
2 Bedrooms | $255.9K | $281.5K | +10.0% |
3 Bedrooms | $427.5K | $485K | +13.5% |
4 Bedrooms | $485K | $549.9K | +13.4% |
5+ Bedrooms | $501K | $585K | +16.8% |
Summary: Richmond housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.9%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Neighborhoods
Richmond | $440K | $510.5K | +16.0% |
Fairway Estates | $468.5K | $515K | +9.9% |
Housing Supply in Richmond, FL
How many homes are available in Richmond, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
77 | 78 | +1.3% |
Summary: The Richmond real estate market had 78 homes for sale in February 2024, a 1.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 43 | 41 | -4.7% |
4 Bedrooms | 24 | 25 | +4.2% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Richmond housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Richmond in February 2024, up by 14.3% month-over-month. Of the 16 sold homes, 44% were sold under asking, 13% were sold at asking, and 44% were sold over asking.
Days on Market for Richmond, FL
How long does it take to sell a home in Richmond, FL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
45 Days | 16 Days | -63.4% |
Summary: Homes in Richmond had an average of 16 days on market in Feb 2024, down by 63.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 16 homes were sold in Richmond; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.