Richmond Market Watch: End of September Snapshot
As September draws to a close, many homeowners are asking the same question: “What’s happening in the Richmond housing market right now?” Whether you’re considering downsizing, buying your next home, or just keeping an eye on your neighborhood values, here’s a look at where things stand as we head into fall.
Current Market Conditions
Inventory remains limited, especially for homes that are move-in ready or well-priced. This scarcity continues to favor sellers. (Collection-RE)
Home prices are up year-over-year. The median sale price in Richmond recently was around $400,000, reflecting about a 6.7% increase compared to the same time last year. (Redfin)
Homes are selling faster, though not as quickly as at peak demand. In August 2025, homes in Richmond spent about 19 days on the market on average—longer than last year, but still brisk. (Redfin)
Richmond Area Data Snapshot (Overall, Not Neighborhood-Specific)
Here’s what the numbers looked like across the greater Richmond area as of late September:
The median sale price is holding around $400,250, about a 6.7% increase year-over-year.
Homes are spending an average of 19 days on the market, which is slightly longer than last year but still a relatively quick turnaround compared to historic norms.
The active listing count across the metro area was roughly 2,700 homes in August, underscoring limited inventory compared to buyer demand.
This gives us a picture of the overall market, but keep in mind each neighborhood tells its own story. A Museum District Tudor will perform differently than a Henrico rancher or a Goochland estate. Neighborhood-specific data often reveals more opportunities for both buyers and sellers.
What This Means for Sellers
If you’ve been considering downsizing, now is a strategic time. The combination of limited inventory, steady buyer demand, and rising prices gives sellers a strong position. Proper pricing, staging, and limiting days on market will be key to maximizing results.
What This Means for Buyers
Competition remains steady, particularly in sought-after areas like Richmond City, Henrico, and Midlothian. Buyers who are prepared with pre-approval and ready to act quickly are most successful. Flexibility on terms and timing can also make an offer stand out.
Final Takeaway
The Richmond market remains strong as we close out September. Sellers benefit from limited supply and steady demand, while buyers who come prepared can still secure excellent homes despite competition. This is a season of opportunity—whether you’re considering downsizing, buying your next home, or simply curious what your property might sell for in today’s market.
