Is Richmond, TX 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 has remained a Seller's Market.
Housing Prices in Richmond, TX
How much do homes in Richmond, TX cost?
Median Sold Price
$390,255
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Richmond was $390,255 in April 2024, up 6.9% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $297.5K | $320K | +7.6% |
3 Bedrooms | $297.5K | $317.5K | +6.7% |
4 Bedrooms | $415K | $434K | +4.6% |
5+ Bedrooms | $535K | $572.4K | +7.0% |
Summary: Richmond 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 7.6%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
Rosenberg | $294K | $317K | +7.8% |
Richmond | $365K | $390.2K | +6.9% |
Sugar Land | $420.6K | $441.9K | +5.1% |
Rosenberg-Richmond | $340K | $344.8K | +1.4% |
Fulshear-Simonton | $484.9K | $489.6K | +0.9% |
Housing Supply in Richmond, TX
How many homes are available in Richmond, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
731 | 891 | +21.9% |
Summary: The Richmond real estate market had 891 homes for sale in April 2024, a 21.9% 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 | 26 | 34 | +30.8% |
3 Bedrooms | 215 | 252 | +17.2% |
4 Bedrooms | 382 | 464 | +21.5% |
5+ Bedrooms | 108 | 141 | +30.6% |
Summary: The Richmond 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 increased by 30.8%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 30.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
155 | 159 | +2.6% |
Asking Price vs. Sold Price
103 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 159 homes were sold or pending in Richmond in April 2024, up by 2.6% month-over-month. Of the 159 sold homes, 65% were sold under asking, 26% were sold at asking, and 9% were sold over asking.
Days on Market for Richmond, TX
How long does it take to sell a home in Richmond, TX?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
36 Days | 38 Days | +4.1% |
Summary: Homes in Richmond had an average of 38 days on market in Apr 2024, up by 4.1% compared to last year.
Breakdown of Home Sale Times
103 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Summary: During April 2024, 159 homes were sold in Richmond; 65% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.