Richmond, VA Home Values & Market Trends

Real estate market trends reflect that there have been 4,862 transactions over the past year in Richmond. The median value for residential home transactions that occurred over the previous year is $399,000. The number of current listings in Richmond is 526, and the percentage of properties for sale in the city is 526.00%. Richmond, VA currently has 74 properties in foreclosure, 9 bank owned properties, 65 properties headed for auction, and 526 properties for sale.

Richmond, VA Real Estate Market Overview

ZipMedian Est. ValueZipMedian Est. Value
23223

$ 318,846

$ 224/sqft

23227

$ 389,223

$ 212/sqft

23223

$ 318,846

$ 224/sqft

23227

$ 389,223

$ 212/sqft

23223

$ 318,846

$ 224/sqft

23227

$ 389,223

$ 212/sqft

23234

$ 325,748

$ 202/sqft

23221

$ 671,235

$ 413/sqft

23234

$ 325,748

$ 202/sqft

23221

$ 671,235

$ 413/sqft

23234

$ 325,748

$ 202/sqft

23221

$ 671,235

$ 413/sqft

23235

$ 440,538

$ 211/sqft

23230

$ 511,839

$ 269/sqft

23235

$ 440,538

$ 211/sqft

23230

$ 511,839

$ 269/sqft

23235

$ 440,538

$ 211/sqft

23230

$ 511,839

$ 269/sqft

23225

$ 389,000

$ 224/sqft

23219

$ 348,500

$ 336/sqft

23225

$ 389,000

$ 224/sqft

23219

$ 348,500

$ 336/sqft

23225

$ 389,000

$ 224/sqft

23219

$ 348,500

$ 336/sqft

23222

$ 319,900

$ 210/sqft

23173

$ --

$ --

23222

$ 319,900

$ 210/sqft

23284

$ --

$ --

23222

$ 319,900

$ 210/sqft

23232

$ --

$ --

23236

$ 423,070

$ 203/sqft

23250

$ --

$ --

23236

$ 423,070

$ 203/sqft

23298

$ --

$ --

23236

$ 423,070

$ 203/sqft

23269

$ --

$ --

23224

$ 270,300

$ 221/sqft

23173

$ --

$ --

23224

$ 270,300

$ 221/sqft

23284

$ --

$ --

23224

$ 270,300

$ 221/sqft

23232

$ --

$ --

23237

$ 354,537

$ 202/sqft

23250

$ --

$ --

23226

$ 654,345

$ 370/sqft

23298

$ --

$ --

23237

$ 354,537

$ 202/sqft

23269

$ --

$ --

23226

$ 654,345

$ 370/sqft

23173

$ --

$ --

23237

$ 354,537

$ 202/sqft

23284

$ --

$ --

23226

$ 654,345

$ 370/sqft

23232

$ --

$ --

23220

$ 530,573

$ 312/sqft

23250

$ --

$ --

23220

$ 530,573

$ 312/sqft

23298

$ --

$ --

23220

$ 530,573

$ 312/sqft

23269

$ --

$ --

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Housing Market Summary for Richmond, VA

Jun 2024May 2025Change
Median Listing Price$359.9K$400K11.13%
Median Sold Price$348.5K$348.9K0.11%
Homes For Sale38951331.88%
Homes Sold2,8022,628-6.21%
Price
$/Sqft
Homes For Sale
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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 $24,511 to $4,571,550. The median estimated value of a home in Richmond is $399,000. The median list price of a home is 399,950, and the total count of properties in the city is 3,336.

Foreclosure
There are 60 zips within Richmond, VA; within these zips, the median estimated home value for homes in foreclosure ranges from $645,532 in 23224 to the lowest value of $85,000 in 23224. Foreclosure homes account for 2.00% of properties in Richmond, VA with 23223 containing 21 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 $266,166 in 23235 to the lowest value of $85,000 in 23224. Bank owned homes and properties account for 0.27% of properties in Richmond, VA. There are 60 zips within Richmond, VA; 23222 containing 4 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    23223 has 18 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 1.95% 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 $793,285 in 23220 to the lowest value of $172,242 in 23220.
Homes for Sale
Homes and properties that are actively listed for sale account for 15.77% of residential properties in Richmond, VA with 23223 containing 80 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 $827,754 in 23230 to the lowest value of $69,950 in 23222.
    Sold Homes
    The median value for recently sold homes ranges from $2,916,997 in 23221 to the lowest price of $22,823 in 23221. There are 60 zips within Richmond, VA. 23223 has 452 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 79.80% of properties in Richmond, VA.

      Compare Nearby Cities

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      $/Sqft
      Homes For Sale
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      Richmond, VA
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      Guide for Richmond, VA

      Market Reports
      Richmond Real Estate on the Rise: Property Values Up 7% from 2023 to 2024
      Virginia
      Virginia Pre-Foreclosures Up 2.86% in September
      Virginia
      Virginia Pre-Foreclosures Down 28%, Pain Persists
      virginia blog hero image
      Virginia
      Virginia Pre-Foreclosures Drop 28% but Crisis Still Looms
      See More Articles
      Richmond Real Estate on the Rise: Property Values Up 7% from 2023 to 2024
      Market Reports|posted 1 April 2024
      Virginia Pre-Foreclosures Up 2.86% in September
      Virginia|posted 1 May 2025
      Virginia Pre-Foreclosures Down 28%, Pain Persists
      Virginia|posted 26 April 2025
      virginia blog hero image
      Virginia Pre-Foreclosures Drop 28% but Crisis Still Looms
      Virginia|posted 10 March 2025