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‘The Front Steps’: 2021 Could Break Richmond Home Sales Records (with some help)

Last week we confirmed the rumors that in fact people do seem to move out of the Richmond less frequently than they do SF in general and many other SF neighborhoods.

But per necessity, the data we used for that stopped at the current year; so what’s the story for 2021? Just how many people have bought and sold Richmond homes in the past 12 months?

MLS recorded 406 residential sales in the neighborhood since the year kicked off. Is that a lot or a little? Well, it’s nine fewer than the previous year, but 46 more than the year before that, and 35 more than the annual average for the past decade. So in a certain since we’ve been quite busy.

For a broader perspective, overall there are about 29,400 homes in the Richmond in total–note that this figure includes Lake Street, Sea Cliff, and the aforementioned Jordan Park, despite some ongoing disputes about whether or not it should.

Not all of those homes are occupied, but they don’t have to be in order to sell, so it all counts together. That means in 2021, 1.3 percent of Richmond homes sold. While that might not sound like a lot, by Richmond standards it’s pretty high.

But wait, the year isn’t over! And there are still 25 homes for sale in the neighborhood, some of which have only been on the market for a few days, some of which have been hanging around since January.

If every one of these places sells by 2022, that would make this the neighborhood’s biggest sales year of all time–or more precisely, the biggest year since MLS began keeping track of such things. (Comparisons to the Richmond land rush of the 1920s may not be applicable.)

This of course isn’t going to happen. BUT, if just 15 of these places sell, that will still break the current record, set back in 2004.

That…probably also won’t happen. But it is possible. So if you’ve been on the fence about a Richmond home all year or know someone who is, this might just be the time to take the plunge.

Industry leaders in real estate marketing, market data, gossip, and news…theFrontSteps.com

Categories: Uncategorized

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