Is Richmond, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Richmond has remained a Seller's Market.
Housing Prices in Richmond, CA
How much do homes in Richmond, CA cost?
Median Sold Price
$650,900
$517/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richmond was $650,900 in May 2024, up 0.1% from last year, and the median price per square foot was $517.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $413.8K | $401.2K | -3.1% |
2 Bedrooms | $570K | $585K | +2.6% |
3 Bedrooms | $699K | $685K | -2.0% |
4 Bedrooms | $800K | $842K | +5.3% |
5+ Bedrooms | $1.0M | $1.0M | -3.0% |
Summary: Richmond housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Cities
San Pablo | $565K | $604.5K | +7.0% |
West Contra Costa | $715.1K | $720K | +0.7% |
Richmond | $650K | $650.9K | 0.1% |
Pinole | $750K | $750K | 0.0% |
El Cerrito | $1.2M | $1.1M | -3.3% |
Housing Supply in Richmond, CA
How many homes are available in Richmond, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
190 | 209 | +10.0% |
Summary: The Richmond real estate market had 209 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 12 | -14.3% |
2 Bedrooms | 46 | 57 | +23.9% |
3 Bedrooms | 91 | 94 | +3.3% |
4 Bedrooms | 32 | 35 | +9.4% |
5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Richmond housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 23.9%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 66 | +22.2% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in Richmond in May 2024, up by 22.2% month-over-month. Of the 62 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.
Days on Market for Richmond, CA
How long does it take to sell a home in Richmond, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 24 Days | -5.2% |
Summary: Homes in Richmond had an average of 24 days on market in May 2024, down by 5.2% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 66 homes were sold in Richmond; 67% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.