Is Richmond Hill, GA 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 Hill has remained a Seller's Market.
Housing Prices in Richmond Hill, GA
How much do homes in Richmond Hill, GA cost?
Median Sold Price
$419,979
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richmond Hill was $419,979 in May 2024, up 10.5% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $181K | $930K | +413.8% |
3 Bedrooms | $299.4K | $323K | +7.9% |
4 Bedrooms | $400.3K | $435K | +8.7% |
5+ Bedrooms | $476.3K | $505K | +6.0% |
Summary: Richmond Hill housing prices by bedroom type for May 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 7.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 6%.
Housing Supply in Richmond Hill, GA
How many homes are available in Richmond Hill, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
307 | 322 | +4.9% |
Summary: The Richmond Hill real estate market had 322 homes for sale in May 2024, a 4.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 97 | 98 | +1.0% |
4 Bedrooms | 126 | 137 | +8.7% |
5+ Bedrooms | 82 | 83 | +1.2% |
Summary: The Richmond Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 1.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 84 | +21.7% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 84 homes were sold or pending in Richmond Hill in May 2024, up by 21.7% month-over-month. Of the 83 sold homes, 29% were sold under asking, 48% were sold at asking, and 23% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
48 Days | 18 Days | -61.7% |
Summary: Homes in Richmond Hill had an average of 18 days on market in May 2024, down by 61.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 84 homes were sold in Richmond Hill; 7% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.