Richmond’s Detached House Movement in November 2021

4 HOMES ADDED TO INVENTORY ABOVE $6M 

This November, 4 detached homes above $6m were added to the inventory for Richmond. Two of the detached homes were in the $6m-$6.5m price band. The other two detached houses in Richmond were listed in the $7.5m and greater price range. However, none of them sold. In fact, there were no sales made above the $3.5m-$4m price band for detached homes in Richmond which made 3 sales and had a rather large 32 detached home listings added to inventory.

THE 4 MOST ACTIVE PRICE BANDS WERE:

1. $1.25M~$1.5M had 11 sales and 10 houses added to inventory in Richmond, giving it a 110% sales ratio
2. $1.5m~$1.75 had 24 sales and 25 houses added to inventory in Richmond, giving it a 96% sales ratio
3. $2m~$2.25 had 15 sales and 31 houses added to inventory  in Richmond, giving it a 48% sales ratio
4. $1.75~$2m had 27 sales and 63 houses added to inventory  in Richmond, giving it a 43% sales ratio

* It is worth noting that $1m~$1.25 had a 100% sales ratio for detached homes, however it only had one sale and one house added to inventory making it statistically insignificant for the purposes of this list. 

MANY FAST MOVING NEIGHBOURHOODS THIS NOVEMBER

Richmond saw many hot selling neighbourhoods in November, but also many very slow moving neighbourhoods. The 5 neighbourhoods with the highest sales ratios made up ⅓ of the total sales in Richmond for detached houses in November. Richmond’s average sales ratio for detached houses was 36%. Houses in Lackner, Terra Nova, South Arm, Stevenson South & North saw sales ratios far higher than the city average.  

 THE 5 HOTTEST NEIGHBOURHOODS WERE:

1. Terra Nova, selling 8 homes with 6 added to inventory, for a sales ratio of 133%
2. Stevenson South selling 3 homes with 3 added to inventory, for a sales ratio of 100%
3. South Arm, selling 9 homes with 13 added to inventory, for a sales ratio of 69%
4. Lackner, selling 8 homes with 12 added to the inventory for a sales ratio of 67%
5. Stevenson North, selling 14 homes with 24 added to the inventory for a sales ratio of 58%

INTERESTED IN A REAL ESTATE MOVE TO RICHMOND?

Please contact Filer and Welch for more information on detached homes in Richmond; where they sold, for how much and when.