Richmond Housing Report - May 2008

Richmond Housing Report - List Vs Sold May, 2008 Source: RealtyLink Online, Listings versus Sales

The Richmond total unit sales for the month of May dropped from 464 in April to 424 - lower by about 9%, but the average prices reported were higher than the previous month. Active listings for all 3 types of housing were higher; detached home increased from 670 units to 790 and Condos increased from 810 to 895 in May.

The List/Sale ratios or Absorption Rates for Condos and detached houses were at 5.70 and 5.30 months respectively. The ratio for townhomes as registered for May was at 3.30 months. The next few months data will give us a better picture as to whether the market can hold on to the past few years price gains.

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