Richmond, Virginia, Real Estate Statistics 2026-2025
- Homes sold for a median price of $375,000 in September 2025
- It is the fourth-largest city in Virginia
- The home prices in the city increased by 3% in 2015
- The city consists of 121 neighborhoods
- The metro area added 22,400 jobs from 2024 to 2025
- They have a median sale-to-list ratio of 1.000 in August 2025
- The real estate market had a Months Supply of Inventory (MSI) of 2.1 in September 2025
- Windsor Farms had a median real estate price of $1,455,267
- It is the ninth worst for young, first-time home buyers
A Very Competitive Market
In September 2025, home prices settled at a median price of $375,000, down 3.4% year-over-year. Houses spent about 21 days on the market, longer compared to 16 days last year. Moreover, the number of properties sold dropped slightly, from 200 in 2024 to 176 this year.
Even with those dips, Richmond is an extremely competitive market. It boasts a Redfin Compete Score™ of 82 out of 100! Many homes receive multiple offers, often with waived contingencies.
A City Home to Hundreds of Thousands
Part of what drives that competition is the steady population growth that Richmond has experienced. Richmond proper had 226,000 residents in 2022. Fast forward to 2025, and that population has climbed to approximately 230,787, making it the fourth-largest city in Virginia.
Zooming out to the greater Richmond metro area in 2022, population growth exceeded 8% over the past ten years. On average, 32 people moved into the area every single day, a figure that clearly shows demand for housing, jobs, and amenities.
One of the Fastest-Growing Real Estate Markets
In 2014, CNN Money recognized the city as one of the fastest-growing real estate markets in the nation. That trend certainly did not slow down in the following years.
In 2015, the median home value in the city was around $145,300, representing a 3% price increase in a year. Across the broader metro area like Chester, values sat at a median of $187,800, up 2.3%. Between July 15 and October 15, 617 homes sold across the region, with a combined median price of $209,900, a 7.1% increase in total value compared to the same period last year.
These statistics reflect sustained appreciation.
Options for Homeowners
Richmond real estate market stats are always dynamic because the city has something for everyone. It has 121 neighborhoods, 86 public schools rated “good” or higher by GreatSchools, and 56 private and charter schools. For families, education is absolutely a huge draw. The desirable location, along with the wealth of amenities, creates a livable, lovable community.
Economic Fundamentals Fueling Housing Demand
A robust economy also underpins Richmond’s housing market. For example, the metro area added 22,400 jobs in 2025, marking a 3.1% growth rate, more than double the national average of 1.4%.
The healthcare and education sectors alone added 9,300 jobs, led by major players like VCU Health. The academic medical center recently announced a $275 million acquisition of the former Altria research building, a facility that will be a state-of-the-art home for the School of Pharmacy and School of Public Health.
Meanwhile, Capital One continues to be one of the area’s largest private employers, with 13,000 employees and more than 800 open positions. Amazon’s local expansion has created over 1,000 jobs since 2022.
Together, these economic drivers help explain why housing demand is still so high and why builders and investors see (RVA) Richmond as a long-term opportunity.
List vs. Sale Price
When it comes to pricing, the numbers define balance. In August 2025, Richmond’s median sale-to-list price ratio held steady at 1.000, meaning homes sold for exactly their asking price.
Interestingly, 42.8% of houses sold above list price, while 35.7% sold below. This dynamic shows that while bidding wars are common, sellers cannot take them for granted. Buyers are becoming more price-sensitive, especially with the elevated interest rates.
Maps
An Increase in Months Supply of Inventory
Inventory is another metric worth watching. As of September 2025, Richmond’s Months Supply of Inventory (MSI) stands at 2.1, up from 1.8 in 2024, a 16.7% increase. While that may sound like a big jump, it still indicates a seller’s market.
A balanced market typically hovers around five to six months of inventory. So, though supply is slowly improving, there is still not enough housing to meet demand. This gradual rise, however, gives buyers a bit more breathing room compared to the ultra-competitive conditions of recent years.
The Most Expensive Neighborhood
Where in Richmond are the high-end properties? Look no further than Windsor Farms, Shockoe Bottom, The Fan, Fan District North, and Westhampton, some of the most prestigious neighborhoods in the city.
Windsor Farms, for instance, had a median listing price of $1,455,267 in 2024, which has since climbed to $1,484,971. That makes it more expensive than 98.2% of neighborhoods in Virginia and 96.1% in the U.S.
Windsor Farms is a suburban-style neighborhood located just west of downtown Richmond. The area has large, often historic properties, many with four or more bedrooms, and a mix of single-family residences and apartment complexes. Most houses are owner-occupied, many built between 1940 and 1969, with a few even dating back before 1940.
Maybe Not for the Young Generation
Yes, Richmond offers plenty of opportunities, but it is not the easiest place for Gen Z home buyers.
According to a Point2 report, the city ranks as the ninth most challenging market for young buyers to break into. Individuals in their 20s in Boston, Seattle, Chicago, and Washington, D.C., may have a better chance of buying a house than in Richmond or Midlothian.
It is not a dead end, however. Buyers can work with a savvy local agent who knows the neighborhoods and can find off-market options.
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The Bottom Line
Richmond is undeniably interesting for anyone buying a home, selling a house fast, or investing in real estate. Prices may have cooled slightly year over year, but the long-term outlook is still promising, with population growth, a thriving job market, and persistent buyer interest.
For buyers, patience and preparation will pay off. For sellers, correctly pricing and staging your property will yield multiple offers. And for investors, the city’s stability and progress make it a market worth watching closely.
As always, keep your eye on Richmond, Virginia, real estate market trends and statistics because the figures hold the past, reveal the present, and hint at the future. Use them to guide your every decision.
