Is Richmond, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Richmond has remained a Seller's Market.

Key Takeaway

Richmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$70,518(+16.0%)

Key Takeaway

Homes in Richmond have sold for 16% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $175K$215K
+22.9%
2 $255.9K$281.5K
+10.0%
3 $427.5K$485K
+13.5%
4 $485K$549.9K
+13.4%
5+ $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
+16.0%
Fairway Estates
+9.9%

Housing Supply in Richmond, FL

How many homes are available in Richmond, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7778+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

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 78
+14.3%
3 4341
-4.7%
4 2425
+4.2%
5+ 33
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 2024Feb 2024CHANGE
1416+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
45 Days16 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Richmond are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Richmond, FL

Nearby Markets to Richmond, FL