Homes for Sale in the Richmond Annex: Market update

If you are looking at homes for sale in the Richmond Annex either as a buyer or a seller the following graphs should privide you with some timely and useful information.  The first Chart shows the monthly median sold price from November of 2008 to November of 2009.

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This shows an enormous increase in the past year of the median price in the Richmond Annex.  Prices have basically doubled, an indication that homes for sale in the Richmond Annex are currently a hot commodity.

The following chart reflects the months supply of inventory.  Usually when we see the amount of available properties decrease we see the prices rise.  This is certianly the case in the Richmond Annex.

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This chart indicates that we have a month and a half 's supply of inventory.  Typically anything less than 7 months supply is considered a "sellers' market." And even though the inventory was low in November of 2008 we were experiencing a financial meltdown of the economy at that time and properties were generally not being offered for sale. 

If you are looking at Homes for Sale in the Richmond Annex either as a buyer or a seller I woudn't wait too long.  The public will catch on pretty quickly and competition will go up both for buyers as more want to get into a desireable area but moreso for sellers as more properties come on the market, particularly in the Spring when government incentives will end and mortgage prices will begin to rise.

For more information on East Bay Real Estate please visit my website: http://www.billfletcherhomes.com/.