Richmond, VA metro area Housing Market
Hot MarketComprehensive housing market data for the Richmond, VA metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$405K
↑ 1.3% YoY
Days on Market
26 days
↑ 30.0% YoY
Active Inventory
2,342
↓ 8.6% YoY
Homes Sold
1,444
↑ 10.1% YoY
Hot Market
Homes are selling quickly with strong competition among buyers.
Richmond, VA metro area Market Summary
The Richmond, VA metro area housing market is heating up. As of March 2026, the median home sale price is $405K, up 1.3% year-over-year. Homes are spending a median of 26 days on the market, 30.0% longer than a year ago.
There are 2,342 homes for sale — 8.6% fewer than last year. With 1.6 months of supply, this is a seller's market. 1,959 new listings were added during this period, up 3.5% year-over-year.
Homes are selling for 100.2% of their list price on average, indicating buyers are paying above asking. 39.1% of homes sell above their asking price. 26.4% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
45
Contributing Factors
How This Market Compares
vs. National Median
vs. Virginia Median
Investor Takeaway
This is a highly competitive market. Be prepared to move quickly and potentially offer above asking price. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.
Richmond, VA metro area Market Trends
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Detailed Market Metrics
Median List Price
$430K
Price per Sq Ft
$223
Sale-to-List Ratio
100.2%
Months of Supply
1.6
Sold Above List
39.1%
Price Drops
26.4%
New Listings
1,959
↑ 3.5% YoY
Pending Sales
1,855
Off Market in 2 Weeks
51.3%
Other Markets in Virginia
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Winchester, VA metro area
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Staunton, VA metro area
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Blacksburg, VA metro area
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Harrisonburg, VA metro area
$334K · 56d on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.