Richmond - VA housing market
The Richmond metro has a typical home value of $399,562, up 2.4% from a year ago. Homes are moving fast at 7 days on market, a strong seller's market. 23% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($399,562) 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 2.4% over the past year. In Richmond - VA, that means a home worth $390,197 last year is now worth roughly $399,562.
The median sale price , what homes actually close for , is $383,494. Homes are selling at 101.2% of list price, meaning buyers are typically paying at or above asking.
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 23.1% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 1,834 new listings hit the market each month in Richmond - VA. There are currently 3,452 homes for sale, up 5.9% from a year ago.
The typical monthly rent in Richmond - VA is $1,772, up 3.3% 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 | $584,684 | -0.3% | 10.0d |
| Virginia Beach - VA | $376,711 | +2.6% | 23.0d |
| Roanoke - VA | $305,065 | +3.9% | 15.0d |
| Lynchburg - VA | $293,781 | +3.0% | 16.0d |