Local home value data · Richmond, VA
What's my home worth in Richmond, VA?
Richmond homes are selling in about two weeks, faster than they did a year ago, even though the median sale price has eased slightly.
Is Richmond a buyer's or seller's market?
Seller's market. Redfin rates Richmond 86/100 (most competitive), based on how quickly homes sell, how often they get multiple offers, and how close they sell to list price.
What this means if you're selling in Richmond
A median sale price of $426,000, down 1.0% year-over-year, suggests a market that is steady rather than surging. What stands out is speed: homes in Richmond average about 14 days on market, two days faster than last year, and draw around two offers. Buyers should be ready to move quickly on well-priced homes, while sellers should price to recent comparable sales instead of counting on price gains.
How Richmond compares
Richmond's median sale price sits 5% above the U.S. median.
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Is Richmond a buyer's or seller's market right now?
The numbers lean toward sellers on speed, not on price. Richmond homes sell in about 14 days on average (16 a year ago), receive around two offers, and the Redfin Compete Score is 86 out of 100. At the same time the median sale price of $426,000 is down 1.0% from last year, so buyers are not facing rising prices, just fast decisions.
Are Richmond home prices going up or down?
Slightly down. The median sale price over the three months ending August 2026 was $426,000, about 1.0% below the same period last year. That is a small move, and it reflects a mix of homes sold across the whole city, not any single neighborhood.
How accurate is the Richmond median for my neighborhood?
The $426,000 citywide median combines every neighborhood and home type, so it can sit well above or below what a specific block would sell for. For an estimate based on your own home and nearby recent sales, request a free home value report, which is reviewed by a local agent.
Home values in nearby markets
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Market data (median sale price, year-over-year change, days on market, and buyer competition) sourced from Redfin, trailing 3-month data as of August 2026. Figures are approximate, change frequently, and are not a substitute for a formal appraisal or a local agent's comparative market analysis. Read more about how home value estimates work.