Richmond, VA Home Values & Market Trends
Real estate market trends reflect that there have been 4,547 transactions over the past year in Richmond. The median value for residential home transactions that occurred over the previous year is $313,507.08. The number of current listings in Richmond is 367, and the percentage of properties for sale in the city is 367.00%. Richmond, VA currently has 46 properties in foreclosure, 5 bank owned properties, 41 properties headed for auction, and 367 properties for sale.
Richmond, VA Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 23223 | $ 264,910 $ 200/sqft | 23220 | $ 599,950 $ 263/sqft |
| 23223 | $ 264,910 $ 200/sqft | 23220 | $ 599,950 $ 263/sqft |
| 23223 | $ 264,910 $ 200/sqft | 23220 | $ 599,950 $ 263/sqft |
| 23225 | $ 327,500 $ 219/sqft | 23227 | $ 385,000 $ 231/sqft |
| 23222 | $ 289,596 $ 186/sqft | 23227 | $ 385,000 $ 231/sqft |
| 23225 | $ 327,500 $ 219/sqft | 23227 | $ 385,000 $ 231/sqft |
| 23222 | $ 289,596 $ 186/sqft | 23230 | $ 281,418 $ 234/sqft |
| 23225 | $ 327,500 $ 219/sqft | 23230 | $ 281,418 $ 234/sqft |
| 23222 | $ 289,596 $ 186/sqft | 23230 | $ 281,418 $ 234/sqft |
| 23236 | $ 357,423 $ 189/sqft | 23219 | $ 312,875 $ 270/sqft |
| 23236 | $ 357,423 $ 189/sqft | 23219 | $ 312,875 $ 270/sqft |
| 23236 | $ 357,423 $ 189/sqft | 23219 | $ 312,875 $ 270/sqft |
| 23224 | $ 218,625 $ 199/sqft | 23173 | $ -- $ -- |
| 23224 | $ 218,625 $ 199/sqft | 23284 | $ -- $ -- |
| 23224 | $ 218,625 $ 199/sqft | 23232 | $ -- $ -- |
| 23235 | $ 399,084 $ 187/sqft | 23250 | $ -- $ -- |
| 23226 | $ 738,338 $ 369/sqft | 23298 | $ -- $ -- |
| 23235 | $ 399,084 $ 187/sqft | 23269 | $ -- $ -- |
| 23226 | $ 738,338 $ 369/sqft | 23173 | $ -- $ -- |
| 23235 | $ 399,084 $ 187/sqft | 23284 | $ -- $ -- |
| 23226 | $ 738,338 $ 369/sqft | 23232 | $ -- $ -- |
| 23237 | $ 309,439 $ 193/sqft | 23250 | $ -- $ -- |
| 23237 | $ 309,439 $ 193/sqft | 23298 | $ -- $ -- |
| 23237 | $ 309,439 $ 193/sqft | 23269 | $ -- $ -- |
| 23234 | $ 285,000 $ 188/sqft | 23173 | $ -- $ -- |
| 23234 | $ 285,000 $ 188/sqft | 23284 | $ -- $ -- |
| 23234 | $ 285,000 $ 188/sqft | 23232 | $ -- $ -- |
| 23221 | $ 820,280 $ 365/sqft | 23250 | $ -- $ -- |
| 23221 | $ 820,280 $ 365/sqft | 23298 | $ -- $ -- |
| 23221 | $ 820,280 $ 365/sqft | 23269 | $ -- $ -- |
Housing Market Summary for Richmond, VA
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $345K | $314.7K | -8.78% |
| Median Sold Price | $291.6K | $314.7K | 7.91% |
| Homes For Sale | 373 | 352 | -5.63% |
| Homes Sold | 2,316 | 2,333 | 0.73% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Richmond, VA
Browse Homes in Richmond, VA
Richmond home values range from $22,040 to $12,430,722. The median estimated value of a home in Richmond is $313,507.08. The median list price of a home is 354,950, and the total count of properties in the city is 82,310.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Richmond, VA with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 60 zips within Richmond, VA; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Richmond, VA ranges from the highest value of $299,900 in 23235 to the lowest value of $147,798 in 23237. Bank owned homes and properties account for 0.01% of properties in Richmond, VA. There are 60 zips within Richmond, VA; 23223 containing 3 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions23223 has 12 auction properties, the highest number of properties going to auction in a single zip in the state of Richmond, VA. Auction homes and other auction properties account for 0.05% of all properties in Richmond, VA. There are 60 zips within Richmond, VA; of those zips, the median estimated home value for homes going to auction ranges from $695,238 in 23226 to the lowest value of $120,048 in 23226.
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Guide for Richmond, VA
Richmond’s real estate market shows consistent growth, with trends indicating increasing property values and demand.
A glance at the real estate market in Norfolk, Virginia, highlighting rising property values, increasing desirability, and trends in nearby cities.
The Chesapeake real estate market has seen steady growth in property values, increasing by 7% over 11 months.
The property market in Virginia Beach, VA, has generally seen an increase in property values, per square foot values, and sold prices from 2022 to 2023. Factors such as economic growth and societal changes may contribute to this upward trend.
