Is Richmond Hill, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond Hill is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Richmond Hill, GA

How much do homes in Richmond Hill, GA cost?

Median Sold Price

$430,190

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$30,298(+7.6%)

Key Takeaway

Homes in Richmond Hill have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Richmond Hill was $430,190 in September 2024, up 7.6% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $180K$684.1K
+280.1%
3 $310K$333.6K
+7.6%
4 $419K$450K
+7.4%
5+ $491.2K$524.4K
+6.8%

Summary: Richmond Hill housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 280.1%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 6.8%.

Housing Supply in Richmond Hill, GA

How many homes are available in Richmond Hill, GA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
275284+3.3%

Summary: The Richmond Hill real estate market had 284 homes for sale in September 2024, a 3.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 89
+12.5%
3 8283
+1.2%
4 121130
+7.4%
5+ 6361
-3.2%

Summary: The Richmond Hill housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 3.2%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6151-16.4%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond Hill, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in Richmond Hill in September 2024, down by 16.4% month-over-month. Of the 50 sold homes, 48% were sold under asking, 36% 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

Sep 2023Sep 2024CHANGE
145 Days41 Days-71.9%

Summary: Homes in Richmond Hill had an average of 41 days on market in Sep 2024, down by 71.9% compared to last year.

Breakdown of Home Sale Times

3 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

Avg time on Rocket Homes in Richmond Hill has remained consistent over time.

Summary: During September 2024, 51 homes were sold in Richmond Hill; 6% of homes were sold within 30 days, 8% 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 30 Days Ago

Newest Listings in Richmond Hill, GA

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