Is Richmond Hill, GA 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 Hill has remained a Seller's Market.
Housing Prices in Richmond Hill, GA
How much do homes in Richmond Hill, GA cost?
Median Sold Price
$405,066
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richmond Hill was $405,066 in March 2024, up 19.1% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $181K | $930K | +413.8% |
3 Bedrooms | $277.3K | $315K | +13.6% |
4 Bedrooms | $379.9K | $423.2K | +11.4% |
5+ Bedrooms | $425.5K | $493.7K | +16.0% |
Summary: Richmond Hill housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 413.8%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 16%.
Housing Supply in Richmond Hill, GA
How many homes are available in Richmond Hill, GA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
211 | 239 | +13.3% |
Summary: The Richmond Hill real estate market had 239 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 69 | 81 | +17.4% |
4 Bedrooms | 98 | 101 | +3.1% |
5+ Bedrooms | 37 | 52 | +40.5% |
Summary: The Richmond Hill housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 40.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 67 | +55.8% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Richmond Hill in March 2024, up by 55.8% month-over-month. Of the 67 sold homes, 36% were sold under asking, 48% were sold at asking, and 16% were sold over asking.
Days on Market for Richmond Hill, GA
How long does it take to sell a home in Richmond Hill, GA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 12 Days | -62.5% |
Summary: Homes in Richmond Hill had an average of 12 days on market in Mar 2024, down by 62.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 67 homes were sold in Richmond Hill; 6% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.