$34,900
0.25 Acres
Land
Fred Elliott, Listing Office: Coldwell Banker Preferred Properties
Is Richmond, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Richmond was a Seller's Market.
Key Takeaway
Richmond is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richmond, FL
How much do homes in Richmond, FL cost?
Median Sold Price
$355,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+2.9%)
Key Takeaway
Homes in Richmond have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Richmond was $355,000 in October 2024, up 2.9% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $245K | $255K | +4.1% |
| 3 Bedrooms | $344.9K | $350K | +1.5% |
| 4 Bedrooms | $365K | $380K | +4.1% |
| 5+ Bedrooms | $474.3K | $499.9K | +5.4% |
Summary: Richmond housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Eisenhower | $325K | $340K | +4.6% |
| Joel | $335K | $345K | +3.0% |
| Richmond | $345K | $355K | +2.9% |
| Harns | $333.5K | $335K | 0.4% |
| Sunshine | $355K | $354.9K | 0% |
Housing Supply in Richmond, FL
How many homes are available in Richmond, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 251 | 254 | +1.2% |
Summary: The Richmond real estate market had 254 homes for sale in October 2024, a 1.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 155 | 162 | +4.5% |
| 4 Bedrooms | 82 | 79 | -3.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Richmond housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 23 | -34.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, expect to pay close to the asking price. 39.1% of homes here sold near the asking price last month.
Summary: A total of 23 homes were sold or pending in Richmond in October 2024, down by 34.3% month-over-month. Of the 23 sold homes, 35% were sold under asking, 39% were sold at asking, and 26% were sold over asking.
Days on Market for Richmond, FL
How long does it take to sell a home in Richmond, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 44 Days | -1.1% |
Summary: Homes in Richmond had an average of 44 days on market in Oct 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in Richmond; 57% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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