Is Richmond, FL 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.
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
$350,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Richmond have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Richmond was $350,000 in April 2024, up 4.3% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $229.9K | $251.8K | +9.6% |
| 3 Bedrooms | $335K | $349.9K | +4.5% |
| 4 Bedrooms | $355K | $380K | +7.0% |
| 5+ Bedrooms | $352.5K | $412.8K | +17.1% |
Summary: Richmond housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Eisenhower | $310K | $335K | +8.1% |
| Sunshine | $340K | $355K | +4.4% |
| Richmond | $335.6K | $350K | +4.3% |
| Harns | $319.9K | $333K | +4.1% |
| Joel | $325K | $337.8K | +3.9% |
Housing Supply in Richmond, FL
How many homes are available in Richmond, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 210 | 211 | 0.5% |
Summary: The Richmond real estate market had 211 homes for sale in April 2024, a 0.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 11 | -15.4% |
| 3 Bedrooms | 119 | 121 | +1.7% |
| 4 Bedrooms | 67 | 71 | +6.0% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Richmond housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 41 | +41.4% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Richmond in April 2024, up by 41.4% month-over-month. Of the 41 sold homes, 46% were sold under asking, 24% were sold at asking, and 29% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 59 Days | 53 Days | -11.3% |
Summary: Homes in Richmond had an average of 53 days on market in Apr 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in Richmond; 54% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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