Is Richmond Heights, MO 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 Heights has remained a Seller's Market.
Key Takeaway
Richmond Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richmond Heights, MO
How much do homes in Richmond Heights, MO cost?
Median Sold Price
$357,950
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Richmond Heights have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Richmond Heights was $357,950 in March 2024, down 0.6% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.8K | $185K | +18.7% |
| 2 Bedrooms | $250K | $280.5K | +12.2% |
| 3 Bedrooms | $368.3K | $349K | -5.2% |
| 4 Bedrooms | $550K | $716.1K | +30.2% |
| 5+ Bedrooms | $1.0M | $931.5K | -11.3% |
Summary: Richmond Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes increased by 12.2%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 30.2%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Clayton | $588.3K | $681K | +15.8% |
| Brentwood | $246K | $255.8K | +4.0% |
| Richmond Heights | $360K | $357.9K | -0.6% |
| Hadley Township | $368.5K | $356K | -3.4% |
| Maplewood | $283.5K | $270.8K | -4.5% |
Housing Supply in Richmond Heights, MO
How many homes are available in Richmond Heights, MO?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 25 | +47.1% |
Summary: The Richmond Heights real estate market had 25 homes for sale in March 2024, a 47.1% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 2 | 6 | +200.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Richmond Heights 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 remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond Heights, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Richmond Heights in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.
Days on Market for Richmond Heights, MO
How long does it take to sell a home in Richmond Heights, MO?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 60 Days | +7.2% |
Summary: Homes in Richmond Heights had an average of 60 days on market in Mar 2024, up by 7.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Richmond Heights; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.