$3,324 Closing Credit*
$279,900
1,604 SqFt
2 Beds
•2 Full Baths
Matthew Klafehn, Listing Office: Park Realty of WNY LLC
Is Richmond, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Richmond has remained a Seller's Market.
Key Takeaway
Richmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richmond, NY
How much do homes in Richmond, NY cost?
Median Sold Price
$345,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$70,000(+25.5%)
Key Takeaway
Homes in Richmond have sold for 25.5% more than they did a year ago.
Summary: The median home sold price in Richmond was $345,000 in November 2024, up 25.5% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123.5K | - | N/A |
| 2 Bedrooms | $245K | $278K | +13.5% |
| 3 Bedrooms | $275K | $340K | +23.6% |
| 4 Bedrooms | $342.5K | $400K | +16.8% |
| 5+ Bedrooms | $268.5K | $427.5K | +59.2% |
Summary: Richmond housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 23.6%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 59.2%.
Median Sold Price Compared To Nearby Cities
| Richmond | $275K | $345K | +25.5% |
| Honeoye | $276.6K | $324.9K | +17.4% |
| Bristol | $240K | $280K | +16.7% |
| Canadice | $285K | $295K | +3.5% |
Housing Supply in Richmond, NY
How many homes are available in Richmond, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Summary: The Richmond real estate market had 14 homes for sale in November 2024, a 22.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 2 | -66.7% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Richmond housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 66.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Richmond in November 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Richmond, NY
How long does it take to sell a home in Richmond, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 69 Days | +109.6% |
Summary: Homes in Richmond had an average of 69 days on market in Nov 2024, up by 109.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Richmond are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Richmond; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
