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Richmond Metropolitan Statistical Area Market Conditions
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® The Long & Foster Market Conditions Report
22
Richmond Metropolitan Area - September 2013
●
● The current median sale price was 6%
lower than in August.
This September, the median sale price
was $195,500, an increase of 9%
compared to last year.
Highlights
$1
77
,90
0
$1
69
,90
0
$1
74
,70
0
$1
75
,00
0
$1
55
,00
0
$1
62
,50
0
$1
70
,00
0
$1
85
,00
0
$1
80
,00
0
$2
00
,00
0
$1
98
,62
5
$1
85
,00
0
$1
80
,00
0
$1
77
,45
7
$1
85
,00
0
$1
85
,00
0
$1
70
,00
0
$1
75
,50
0
$1
85
,00
0
$1
87
,00
0
$1
95
,75
0
$2
10
,00
0
$2
07
,25
0
$2
08
,00
0
$1
95
,50
0
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Median Sales Price
$183,7
50
$189,9
50
$165,5
00
$222,7
50
$240,0
00
$193,0
00
$213,0
00
$189,7
50
$262,9
75
$221,5
00
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
Median Sale PriceOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-5%
-8%
-5%
-8%
-10
%
2%
-5%
3% 4
%
6%
5%
-5%
1%
4% 6
%
6%
10
%
8% 9
%
1%
9%
5%
4%
12
%
9%
-16%
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
Median Sale PricePercent Change Year/Year
® The Long & Foster Market Conditions Report
23
Richmond Metropolitan Area - September 2013
99
9
87
9 93
2 1,0
65
76
8 86
2
1,0
39 1
,17
3
1,4
24
1,5
01
1,3
40
1,3
52
1,0
47
1,0
94
1,1
18
1,0
89
83
4 89
6
1,0
86
1,3
16
1,5
89
1,6
32
1,6
04
1,5
11
1,1
81
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Total Units Sold
313
290
159
86
26
349
341
160
118
36
0
100
200
300
400
500
600
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
Total Units SoldOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
●
● There was a decrease of 22% in total
units sold in September compared to
August.
This month's total units sold was
higher than at this time last year, an
increase of 13% versus September 2012.
Highlights1
5%
-1%
14
%
19
%
9%
13
%
4%
20
%
17
%
13
%
19
%
13
%
5%
24
%
20
%
2%
9%
4% 5%
12
%
12
%
9%
20
%
12
%
13
%
-10%
0%
10%
20%
30%
Total Units SoldPercent Change Year/Year
® The Long & Foster Market Conditions Report
24
Richmond Metropolitan Area - September 2013
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Total Units Sold by Type
Detached Attached Condo
1,028
87%
98
8%
55
5%
Total Units Sold by TypeCurrent Month
Detached Attached Condo
355
30%
527
44%
198
17%
57
5%
44
4%
Total Units Sold by Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
100
200
300
400
500
600
700
800
Total Units Sold by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
25
Richmond Metropolitan Area - September 2013
8,8
45
8,5
60
8,1
55
7,4
73
7,4
78
7,5
47
7,6
78
7,9
45
8,0
07
7,9
51
7,8
13
7,6
45
7,6
69
7,4
14
7,2
40
6,8
14
6,6
52
6,8
10
6,9
33
7,3
06
7,5
31
7,5
09
7,5
49
7,4
60
7,3
96
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Total Active Inventory
1,9
82
1,5
96
1,1
40
621
249
1,9
42
1,4
62
1,0
51
633
224
0
500
1,000
1,500
2,000
2,500
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
Total Active InventoryOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-21
%
-20
%
-21
%
-22
% -21
%
-20
%
-21
%
-20
%
-19
%
-19
%
-18
%
-18
%
-13
%
-13
% -11
%
-9%
-11
%
-10
%
-10
% -8%
-6%
-6%
-3% -2
%
-4%
-30%
-25%
-20%
-15%
-10%
-5%
0%
Total Active InventoryPercent Change Year/Year
●
● Versus September 2012, the total
number of homes available was lower
by 273 units or 4%.
This month's supply of available
inventory remained relatively stable
compared to last month.
Highlights
® The Long & Foster Market Conditions Report
26
Richmond Metropolitan Area - September 2013
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Total Active Inventory by Type
Detached Attached Condo
6,429
87%
667
9%
300
4%
Total Active Inventory
by TypeCurrent Month
Detached Attached Condo
2,119
29%
3,337
45%
1,065
14%
429
6%
446
6%
Total Active Inventory by
Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Total Active Inventory by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
27
Richmond Metropolitan Area - September 2013
96
.6%
96
.4%
96
.6%
96
.7%
95
.7%
95
.5%
96
.8%
96
.9%
97
.4%
97
.5%
96
.9%
97
.4%
97
.5%
97
.3%
97
.2%
97
.7%
97
.2% 97
.4% 9
7.8
% 98
.0%
97
.9%
98
.2%
98
.0%
98
.0%
98
.2%
94.0%
94.5%
95.0%
95.5%
96.0%
96.5%
97.0%
97.5%
98.0%
98.5%
Average Sale Price as a Percent of List Price
98.2
%
98.4
%
95.2
%
97.5
%
96.4
%
99.2
%
98.2
%
96.8
% 98.8
%
98.5
%
92.0%
94.0%
96.0%
98.0%
100.0%
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
Sale Price as % of List PriceOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
Days on Market
Current
Month
One Year
Ago59 71
Down -17% Vs. Year
Ago
Avg Sale Price as % of List Price
Current
Month
One Year
Ago98.2% 97.5%
Up 0.7% Vs. Year Ago
84%
86%
88%
90%
92%
94%
96%
98%
100%
102%
Average Sale Price as a Percent of List Price by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
80
8385
79
84
81
76
7371
6365 65
7173
7273
7576
68
62
58
53
5759 59
50
55
60
65
70
75
80
85
90Days on Market
® The Long & Foster Market Conditions Report
28
Richmond Metropolitan Area - September 2013$
21
4,8
34
$1
74
,27
4
$1
95
,67
8
$2
24
,53
2
$1
41
,90
4
$1
67
,84
7
$2
07
,08
7
$2
46
,39
0 $3
06
,88
1
$3
58
,40
3
$3
21
,40
1
$2
99
,41
4
$2
25
,10
8
$2
41
,66
1
$2
49
,25
7
$2
44
,32
7
$1
76
,82
7
$1
91
,73
5
$2
30
,19
8 $2
92
,35
3
$3
69
,87
9
$3
99
,59
8
$3
94
,13
5
$3
69
,98
8
$2
80
,33
7
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Total Dollar Volume SoldIn Thousands
Total Dollar Volume Sold
Current
Month
One Year
Ago$280,337,079 $225,107,857
Up 25% Vs. Year Ago
Months of Supply
Current
Month
One Year
Ago6.3 7.3
Down -14% Vs. Year Ago
8.9
9.7
8.8
7.0
9.7
8.8
7.4
6.8
5.6
5.3
5.8
5.7
7.3
6.8
6.5
6.3
8.0
7.6
6.4
5.6
4.7
4.6 4.7 4.9
6.3
0
2
4
6
8
10
12
Months of SupplyCurrent Month's Active Inventory/Current Month's Unit Sales
●
●
Total volume sold this September was
25% greater than the same month one
year ago.
In September, there was 6.3 months of
supply available, compared to 7.3 in
September 2012. That was a decrease
of 14% versus a year ago.
Highlights
® The Long & Foster Market Conditions Report
29
Richmond Metropolitan Area - September 20131
,78
9
1,9
09
1,5
48
1,2
70
2,2
17
2,0
02
2,4
21
2,3
13
2,3
16
2,0
96
2,0
66
2,0
20
1,8
46
1,8
07
1,5
33
1,2
39
2,0
16
2,0
10 2
,30
3
2,6
85
2,5
76
2,1
59
2,3
33
2,1
83
2,0
53
93
8
1,0
33
92
5
82
2
1,0
00
1,1
38
1,4
89
1,4
36
1,4
19
1,3
36
1,1
37
1,2
41
1,0
60
1,1
12
92
3
82
3 1,0
88
1,2
33 1,4
79 1,6
74
1,7
27
1,4
82
1,3
88
1,3
78
1,2
65
0
500
1,000
1,500
2,000
2,500
3,000
New Listings & New Contracts
New Listings New Contracts (Under Active Contract Status)
New Listings
Current
Month
One Year
Ago2,053 1,846
Up 11% Vs. Year Ago
New Contracts
Current
Month
One Year
Ago1,265 1,060
Up 19% Vs. Year Ago
1.91.8
1.71.5
2.2
1.81.6 1.6 1.6
1.6
1.8
1.61.7
1.6 1.7
1.5
1.9
1.61.6 1.6
1.5 1.5
1.71.6 1.6
0.0
0.5
1.0
1.5
2.0
2.5
Supply/Demand RatioNumber of New Listings to New Contracts
544
437
290
137
51
591
485
325
163
59
0
200
400
600
800
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
New ListingsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
321
272
157
89
32
406
346
190
86
25
0
200
400
600
800
Chesterfield
County
Henrico
County
Richmond
City
Hanover
County
Powhatan
County
New ContractsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
● Based on this month's amount of new
listings and new contracts, the ratio of
home supply (new listings) to current
home demand (new contracts) was 1.6,
a decrease of 7% from September 2012.
Highlights
