$8,016 Closing Credit*
$675,000
1,746 SqFt
3 Beds
•2 Full Baths
Lauren Sheehan, Listing Office: eXp Realty, LLC
Is Richmond, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, OR
How much do homes in Richmond, OR cost?
Median Sold Price
$605,000
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$33,950(-5.3%)
Key Takeaway
Homes in Richmond have sold for 5.3% less than they did a year ago.
Summary: The median home sold price in Richmond was $605,000 in October 2024, down 5.3% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $474K | $327.5K | -30.9% |
| 2 Bedrooms | $525K | $450K | -14.3% |
| 3 Bedrooms | $637.4K | $675K | +5.9% |
| 4 Bedrooms | $750K | $825K | +10.0% |
| 5+ Bedrooms | $893.3K | $932.5K | +4.4% |
Summary: Richmond housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.9%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 4.4%.
Housing Supply in Richmond, OR
How many homes are available in Richmond, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 53 | +17.8% |
Summary: The Richmond real estate market had 53 homes for sale in October 2024, a 17.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 13 | 19 | +46.2% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
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 remained the same, 3 bedroom homes increased by 46.2%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 14 | +250.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Richmond in October 2024, up by 250.0% month-over-month. Of the 14 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Richmond, OR
How long does it take to sell a home in Richmond, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 52 Days | +196.4% |
Summary: Homes in Richmond had an average of 52 days on market in Oct 2024, up by 196.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 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, 14 homes were sold in Richmond; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.