Richmond, VA Home Values & Market Trends

Real estate market trends reflect that there have been 4,775 transactions over the past year in Richmond. The median value for residential home transactions that occurred over the previous year is $314,731.7. The number of current listings in Richmond is 331, and the percentage of properties for sale in the city is 331.00%. Richmond, VA currently has 48 properties in foreclosure, 7 bank owned properties, 41 properties headed for auction, and 331 properties for sale.

Richmond, VA Real Estate Market Overview

ZipMedian Est. ValueZipMedian Est. Value
23223

$ 259,728

$ 202/sqft

23227

$ 393,798

$ 189/sqft

23223

$ 259,728

$ 202/sqft

23227

$ 393,798

$ 189/sqft

23223

$ 259,728

$ 202/sqft

23227

$ 393,798

$ 189/sqft

23224

$ 239,950

$ 188/sqft

23230

$ 396,187

$ 255/sqft

23224

$ 239,950

$ 188/sqft

23230

$ 396,187

$ 255/sqft

23224

$ 239,950

$ 188/sqft

23230

$ 396,187

$ 255/sqft

23234

$ 261,494

$ 176/sqft

23221

$ 685,535

$ 330/sqft

23222

$ 271,424

$ 208/sqft

23221

$ 685,535

$ 330/sqft

23234

$ 261,494

$ 176/sqft

23221

$ 685,535

$ 330/sqft

23222

$ 271,424

$ 208/sqft

23219

$ 401,505

$ 338/sqft

23234

$ 261,494

$ 176/sqft

23219

$ 401,505

$ 338/sqft

23222

$ 271,424

$ 208/sqft

23219

$ 401,505

$ 338/sqft

23225

$ 331,888

$ 212/sqft

23173

$ --

$ --

23225

$ 331,888

$ 212/sqft

23284

$ --

$ --

23225

$ 331,888

$ 212/sqft

23232

$ --

$ --

23237

$ 307,921

$ 183/sqft

23250

$ --

$ --

23237

$ 307,921

$ 183/sqft

23298

$ --

$ --

23237

$ 307,921

$ 183/sqft

23269

$ --

$ --

23235

$ 372,254

$ 177/sqft

23173

$ --

$ --

23235

$ 372,254

$ 177/sqft

23284

$ --

$ --

23235

$ 372,254

$ 177/sqft

23232

$ --

$ --

23236

$ 342,156

$ 181/sqft

23250

$ --

$ --

23236

$ 342,156

$ 181/sqft

23298

$ --

$ --

23236

$ 342,156

$ 181/sqft

23269

$ --

$ --

23226

$ 525,000

$ 322/sqft

23173

$ --

$ --

23226

$ 525,000

$ 322/sqft

23284

$ --

$ --

23226

$ 525,000

$ 322/sqft

23232

$ --

$ --

23220

$ 531,375

$ 246/sqft

23250

$ --

$ --

23220

$ 531,375

$ 246/sqft

23298

$ --

$ --

23220

$ 531,375

$ 246/sqft

23269

$ --

$ --

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Housing Market Summary for Richmond, VA

Feb 2023January 2024Change
Median Listing Price$315K$324.4K3.00%
Median Sold Price$295.1K$324.4K9.94%
Homes For Sale340306-10.00%
Homes Sold2,4982,5843.44%
Price
$/Sqft
Homes For Sale
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0

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%.

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Browse Homes in Richmond, VA

Richmond home values range from $21,254 to $13,024,624. The median estimated value of a home in Richmond is $314,731.7. The median list price of a home is 340,000, and the total count of properties in the city is 82,312.

Foreclosure
There are 60 zips within Richmond, VA; within these zips, the median estimated home value for homes in foreclosure ranges from $1,438,595 in 23219 to the lowest value of $88,638 in 23219. Foreclosure homes account for 0.00% of properties in Richmond, VA with 23223 containing 13 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-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 Owned
    The median estimated home value of bank owned homes (REO properties) in Richmond, VA ranges from the highest value of $250,662 in 23235 to the lowest value of $88,638 in 23219. 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.
  • Auctions
    23234 has 10 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 $372,289 in 23221 to the lowest value of $142,790 in 23221.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.40% of residential properties in Richmond, VA with 23223 containing 66 homes for sale, the highest number of listed properties in a single zip. There are 60 zips within Richmond, VA; homes for sale in those zips, have a range of median values from $899,900 in 23221 to the lowest value of $50,274 in 23222.
    Sold Homes
    The median value for recently sold homes ranges from $4,368,705 in 23221 to the lowest price of $21,408 in 23221. There are 60 zips within Richmond, VA. 23234 has 451 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 2.92% of properties in Richmond, VA.

      Compare Nearby Cities

      Price
      $/Sqft
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      Richmond, VA
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      Guide for Richmond, VA

      Market Reports
      Virginia Beach House Values Show Impressive Uptrend: Average Value Soars from $375k to $405k in 2023
      gavel for real estate auction
      Home Buying Guides & Tips
      Virginia Foreclosure Laws
      A nice veranda
      Auction
      5 Tips For Increasing Your Chances At Winning A Real Estate Auction
      Market Reports
      NYC Real Estate Rises: 8% Surge in Property Values Aug 2023-Jan 2024
      See More Articles
      Virginia Beach House Values Show Impressive Uptrend: Average Value Soars from $375k to $405k in 2023
      Market Reports|posted 13 February 2024

      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.

      gavel for real estate auction
      Virginia Foreclosure Laws
      Home Buying Guides & Tips|posted 6 June 2015

      Virginia Foreclosure Laws

      A nice veranda
      5 Tips For Increasing Your Chances At Winning A Real Estate Auction
      Auction|posted 27 February 2024

      Buying your dream real estate at auction is tricky. Here are some quick tips to give you an edge.

      NYC Real Estate Rises: 8% Surge in Property Values Aug 2023-Jan 2024
      Market Reports|posted 27 February 2024

      New York City’s real estate market from August 2023 to January 2024 witnessed roughly an 8% increase in average property values, along with fluctuations in per square foot values and sold prices.