Coughlin Team : .. Richmond Ladner, South Delta, Real Estate Market Update Report. : IntranetSites.com -

The Vancouver Real Estate Market Reports

Index Vancouver, Downtown-West End, Yaletown, Richmond, East Van, West Van, North Van, South Burnaby, North Burnaby, E.Burnaby-New West, Coquitlam, Port Coquitlam-Port Moody, Maple Ridge, White Rock, N. Delta, W. Surrey E. Surrey, Langley, North Langley, Chilliwack, Mission, Abbotsford, East vrs West

Richmond, Ladner, South Delta Previous Reports

Current: Richmond: a buyers market with record listings (60% higher than last year), a 9%SOLD rate and a 96% Sell/List Ratio. (This means that there is an average of a $41,000 discount on a sale from the original list price).

Most Active Price Range: Homes between $700,000-$800,000 have 21.9%SOLD rate and prices are stable with average 53 (DOM) and sales discounts of $43,400.

Least Active Price Range: Homes over $2.0 million have a LOW 2.5%SOLD rate (meaning that there are 2-3 sales out of 100 listings/ month) with a high average sales discount of $151,500 from their original list price and averaging 32 days on market (DOM).

History: Last year Richmond may have set a North American price increase record of 14% in just the 2 months of Dec-Feb 2011 for a $123,899 increase to $1,005,302.
Year-To-Date the Home Price Index * shows an increase of just $29,171 .

Future: Record Active Listing Inventory for January is ~60% higher than Jan 2010. New listings still exceed the sales meaning that we will see listings levels increase next month extending buyer's market with continued over supplied inventory.

The Richmond City Market Statistics which includes sub-areas such as Granville, Seafair, Broadmoor, Lackner, Riverdale RI etc are Sponsored by Ed Ganeff, RE/MAX West Coast.
We thank Ed for his support of these Market Updates. Contact Ed as the Local Expert.