Is Richmond Hill, GA 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 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
$412,618
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Richmond Hill have sold for 18.7% more than they did a year ago.
Summary: The median home sold price in Richmond Hill was $412,618 in April 2024, up 18.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $181K | $930K | +413.8% |
| 3 Bedrooms | $284.7K | $317.1K | +11.4% |
| 4 Bedrooms | $386.1K | $425K | +10.1% |
| 5+ Bedrooms | $440K | $505K | +14.8% |
Summary: Richmond Hill 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 413.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 14.8%.
Housing Supply in Richmond Hill, GA
How many homes are available in Richmond Hill, GA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 242 | 293 | +21.1% |
Summary: The Richmond Hill real estate market had 293 homes for sale in April 2024, a 21.1% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 82 | 97 | +18.3% |
| 4 Bedrooms | 101 | 114 | +12.9% |
| 5+ Bedrooms | 55 | 79 | +43.6% |
Summary: The Richmond Hill 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 25%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 43.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 63 | -8.7% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond Hill, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 63 homes were sold or pending in Richmond Hill in April 2024, down by 8.7% month-over-month. Of the 63 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 28 Days | +68.7% |
Summary: Homes in Richmond Hill had an average of 28 days on market in Apr 2024, up by 68.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 63 homes were sold in Richmond Hill; 6% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
