Is Richmond, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Richmond was a Seller's Market.
Key Takeaway
Richmond is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Richmond, NY
How much do homes in Richmond, NY cost?
Median Sold Price
$272,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Richmond have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Richmond was $272,000 in March 2024, down 6.5% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $123.5K | -33.2% |
| 2 Bedrooms | $269K | $182.5K | -32.2% |
| 3 Bedrooms | $291K | $272K | -6.5% |
| 4 Bedrooms | $272.5K | $351.2K | +28.9% |
| 5+ Bedrooms | $370K | $275K | -25.7% |
Summary: Richmond housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.2%, 2 bedroom homes decreased by 32.2%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes decreased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Richmond | $291K | $272K | -6.5% |
| Honeoye | $287.5K | $260K | -9.6% |
Housing Supply in Richmond, NY
How many homes are available in Richmond, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Summary: The Richmond real estate market had 6 homes for sale in March 2024, a 25.0% decrease 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Richmond 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 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Richmond in March 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Richmond, NY
How long does it take to sell a home in Richmond, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 76 Days | +133.8% |
Summary: Homes in Richmond had an average of 76 days on market in Mar 2024, up by 133.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Richmond has remained consistent over time.
Summary: During March 2024, 1 homes were sold in Richmond; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
