Richmond-area home prices fall 9.4% in June, with houses for sale in high demand

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For sale by owner, located at 3939 Woodmont Dr, Parrish. It has 3 bedrooms, 2 baths, and is 1,862 square feet.
For sale by owner, located at 3939 Woodmont Dr, Parrish. It has 3 bedrooms, 2 baths, and is 1,862 square feet.

A typical Wayne County home listed for $131,200 in June, down 9.4% from the previous month's $144,900, an analysis of data from Realtor.com shows.

The median list home price in June was up about 34.6% from June 2021. Wayne County's median home was 1,685 square feet for a listed price of $85 per square foot.

The Wayne County market was busy, with a median 31 days on market. A month earlier, homes had a median 38 days on market. The market added 88 new home listings in June, compared with the 96 added in June 2021. The market ended the month with some 97 listings of homes for sale.

The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

What were Richmond-area home prices in June? Here's a county-by-county breakdown

Home prices in Preble County, Ohio, rose 26.2%, to a median $226,500, from a month earlier. The typical house was on the market for 35 days, from 42 days a month earlier. The typical 1,540-square-foot house had a list price of $142 per square foot.

Home prices in Randolph County, Indiana, rose 21.8%, to a median $114,950, from a month earlier. The typical house was on the market for 30 days, from 24 days a month earlier. The typical 1,584-square-foot house had a list price of $82 per square foot.

Across all of Indiana, median home prices were $278,450, rising 1.3% from a month earlier. The median Indiana home for sale had 1,943 square feet at list price of $140 per square foot.

Across all of Ohio, median home prices were $230,000, rising 2.2% from a month earlier. The median Ohio home for sale had 1,704 square feet at list price of $132 per square foot.

Across the United States, median home prices were $450,000, up 0.7% from a month earlier. The median American home for sale had 1,887 square feet, listed at $228 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on Richmond Palladium-Item: Richmond-area homes for sale drop to $131,200 median price