The sales activites for Richmond condos improved significantly from 56 units in January, 2009 to 83, 130 and 162 in February, March and April 2009 respectively. Current inventory at 5.21 months is considered well-balanced.
Current market prices versus city values
When the past 3.5 months sales for under 15-year old 2-bedroom 2-bath high-rise concrete condos around Richmond City Center were analysed, the 17 homes sold during this period were found to be selling at 7% below their listing price, and 4.4% below their average city value.
| No. Condos | Av. L. Price | Av. S. Price | % Var. | Av. C. Value | % Var. |
| 17 | $371,000 | $345,000 | - 7% | $361,000 | - 4.4% |
Condos under 3 years old accounted for 82% of the condos sold during this period. These homes ranged in size from 838 to 895 sq ft. The 3 older condos between 11 to 13 years old were larger in sizes ranging from 1,000 to 1,190 sq ft.
The above may help home sellers and buyers to assess the current market demand for 2 bedroom concrete high-rise Richmond condos around the City Center.View all condos listed for sale in Richmond.
You can view the Richmond condo listings for sale around Richmond's City Center using this link.
If you like to discuss your home buying or selling needs, you can contact James Wong at 604-721-4817 or email me.
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