Richmond - VA housing market
The Richmond metro has a typical home value of $393,943, up 2.1% from a year ago. Homes are moving fast at 7 days on market - a strong seller's market. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($393,943) is the Zillow Home Value Index for the Richmond - VA metro area , a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 2.1% over the past year. In Richmond - VA, that means a home worth $385,840 last year is now worth roughly $393,943.
The median sale price , what homes actually close for , is $378,313. Homes are selling at 99.7% of list price, meaning buyers have room to negotiate.
Homes listed in Richmond - VA sit on the market for roughly 7 days before going pending. Shorter = seller's market; longer = buyer's market.
About 18.5% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 1,563 new listings hit the market each month in Richmond - VA. There are currently 2,899 homes for sale, up 8.5% from a year ago.
The typical monthly rent in Richmond - VA is $1,736, up 3.2% year over year. For investors, the price-to-rent ratio here is roughly 19x annual rent.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
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Other metros in VA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Washington - DC | $582,461 | -0.5% | 9.0d |
| Virginia Beach - VA | $371,148 | +2.3% | 25.0d |
| Roanoke - VA | $297,806 | +3.6% | 19.0d |
| Lynchburg - VA | $288,024 | +2.3% | 20.0d |