Photo: Bruce Emmerling · CC BY-SA 4.02,768 homes sold in Richmond in the last year, at a typical $407K
About one sale in 6 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Richmond homes are listed.
Every place Richmond homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Richmond.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
11% of Richmond’s sales are condos, at $108K less than a house
2232 houses and 291 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 2232 sold in 12 months
- Per square foot
- $253VA $222
- Days to sell
- 18
- Sold over asking
- 41%
- Listings with a price cut
- 33%
typical sale · 291 sold in 12 months
- Per square foot
- $318VA $301
- Days to sell
- 35
- Sold over asking
- 23%
- Listings with a price cut
- 22%
Multi-family (2–4 units): 108 sold, typical $659K
Townhouses: 138 sold, typical $368K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.9 times the 2016 price
2,768 sales in the last year, against 3,950 in 2021 and a low of 2,531 in 2012. The typical sale went from $215K in 2016 to $407K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $400K buys in Richmond
Check a listing against what Richmond homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Richmond are back to pre-pandemic levels, with about as many homes for sale
We read every month of Richmond’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 2,768 sales.
If you’re buying in Richmond
- Shop in September. It brings about 327 new listings a month, close to the busiest month, with fewer bidding wars (39% over asking).
- Some room to negotiate. 30% of listings cut their price, about as many as before the pandemic.
- Bid near asking. Buyers paid 100.6% of the list price on average; 37% paid over.
- You’ll usually have time. Only 45% of homes go under contract within two weeks; the typical one takes 21 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 387 a month), and the most competition: 46% close over asking. August and September offer nearly as much choice with fewer homes bid up (39%). January has the least competition (30%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and hotter than Virginia
| Richmond now | 2017–19 | 2021 peak | VA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 37% | 34% | 54% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 45% | 50% | 58% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 30% | 28% | 27% | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 100.6% | 99.1% | 102.8% | 99.3% |
| Days to sellMedian days from listing to contract | 21 | 16 | 11 | 38 |
451 homes for sale on a typical day
That’s 1.5 times the 2022 low (293), about the 2017–19 level and well under 2012’s 1339.
1 in 3 listings has cut its price
30% in the last year, against 28% in 2017–19 and 25% across Virginia.
Since 2019, houses are up 69%, condos 59%
A house typically sold for $424K in the last year (2232 sales), a condo for $316K (291).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Richmond ranks 71st of 179 busy Virginia markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Richmond is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Richmond home costs about $2,426 a month
Price: Richmond’s typical sale, last 12 months. Property tax at Richmond’s 0.9% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Richmond is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 152.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $407K home, about $3,630 a year.
Taxes vs. neighborsSchools
The schools grade for Richmond, from test results, graduation and how much students grow.
Schools in RichmondTypical commute
The average one-way trip to work for people who live in Richmond.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Manchester, Bon Air, Montrose, East Highland Park and Dumbarton sell for less a square foot
The busier markets within 25 miles of Richmond, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Richmond | 2,768 | $407K | $254 | 37% | 21 |
| East Highland Park | 192 | $285K | $205 | 40% | 31 |
| Bon Air | 177 | $418K | $215 | 53% | 11 |
| Lakeside | 171 | $361K | $264 | 51% | 10 |
| Manchester | 131 | $369K | $206 | 49% | 16 |
| Montrose | 80 | $261K | $229 | 31% | 29 |
| Dumbarton | 55 | $350K | $221 | 20% | 25 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Richmond, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Richmond. People who follow the town see it, and so do people comparing Richmond with their own town. No commission, no listing fee.
Questions about buying a home in Richmond
What do homes sell for in Richmond, VA?
2,768 homes sold in the year to May 2026 at a typical $407K, $254 a square foot. Houses sold for about $424K, condos for about $316K.
Is Richmond a buyer’s or seller’s market?
A seller’s market: 383 homes were for sale in May 2026 and 304 sold, about 1.3 months of supply. Buyers paid 100.6% of asking on average, and 30% of listings cut their price.
When is the best time to buy in Richmond?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Richmond?
About 0.9% of a home’s value a year. On a $407K home that’s near $3,630.
Where can I see homes for sale in Richmond?
Zillow, Redfin, Realtor.com and Homes.com all carry Richmond’s MLS listings; the search links above open each one filtered to Richmond.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).