Richmond, VA metro area Housing Market
Warm 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: January 2026
Median Sale Price
$390K
↑ 2.2% YoY
Days on Market
39 days
↑ 39.3% YoY
Active Inventory
2,217
↓ 8.8% YoY
Homes Sold
966
↑ 2.3% YoY
Warm Market
The market is active with moderate buyer demand.
Richmond, VA metro area Market Summary
The Richmond, VA metro area housing market is heating up. As of January 2026, the median home sale price is $390K, up 2.2% year-over-year. Homes are spending a median of 39 days on the market, 39.3% longer than a year ago.
There are 2,217 homes for sale — 8.8% fewer than last year. With 2.3 months of supply, this is a seller's market. 1,236 new listings were added during this period, down 1.7% year-over-year.
Homes are selling for 99.0% of their list price on average, suggesting room for negotiation. 27.9% of homes sell above their asking price. 24.1% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
57
Contributing Factors
How This Market Compares
vs. National Median
vs. Virginia Median
Investor Takeaway
A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.
Richmond, VA metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$400K
Price per Sq Ft
$215
Sale-to-List Ratio
99.0%
Months of Supply
2.3
Sold Above List
27.9%
Price Drops
24.1%
New Listings
1,236
↓ 1.7% YoY
Pending Sales
1,266
Off Market in 2 Weeks
35.7%
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Winchester, VA metro area
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Blacksburg, VA metro area
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Harrisonburg, VA metro area
$322K · 45d 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.