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$375,000
Median Price
+4.2%
YoY Change
1,247
Active Listings
18
Avg DOM
Richmond continues to be one of Virginia's strongest markets, with a median home price of $375,000 and 4.2% year-over-year appreciation. The city's blend of historic neighborhoods, a booming food scene, and proximity to both the mountains and coast drives sustained demand. Inventory remains tight at 1.8 months of supply, favoring sellers in most price brackets. Buyers should be prepared to move quickly, especially in walkable neighborhoods close to downtown.
$375,000
Median Sale Price
99.1%
List-to-Sale Ratio
1.8 mo
Months of Inventory
$215
Price / Sq Ft
Tracking median price, inventory, and days on market over the past six months in Richmond.
How each Richmond neighborhood is performing in the current market.
| Neighborhood | Median Price | YoY Change | Avg DOM | Inventory |
|---|---|---|---|---|
| The Fan | $425,000 | +5.1% | 10 days | 48 |
| Scott's Addition | $395,000 | +6.8% | 8 days | 32 |
| Church Hill | $365,000 | +7.2% | 12 days | 41 |
| Short Pump | $485,000 | +3.5% | 15 days | 87 |
| Carytown | $445,000 | +4% | 11 days | 29 |
| Midlothian | $410,000 | +3.8% | 16 days | 112 |
| Museum District | $440,000 | +4.5% | 9 days | 35 |
| Manchester | $340,000 | +8.5% | 14 days | 38 |
Based on current inventory, days on market, and list-to-sale ratios.
Months of Inventory
1.8
List-to-Sale Ratio
99.1%
Avg Days on Market
18 days
Richmond's market is expected to remain competitive through Q2 2026. Limited inventory in neighborhoods like The Fan, Scott's Addition, and Church Hill will keep upward pressure on prices. New construction in the suburbs (Short Pump, Midlothian) should add supply at higher price points. Expect 3-5% appreciation over the next 12 months with days on market staying below 20 in desirable areas.
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Download the complete Richmond market report with additional charts, neighborhood comparisons, and investment analysis. Updated March 2026.
Richmond is currently a seller's market with just 1.8 months of inventory. Homes average 18 days on market, and many desirable neighborhoods see properties go under contract within the first weekend. Buyers should have strong pre-approval and be prepared to act fast.
Manchester (8.5% YoY), Church Hill (7.2%), and Scott's Addition (6.8%) are leading appreciation. These neighborhoods combine revitalization momentum with walkability and proximity to downtown employers and dining.
Winter months (December-February) typically offer less competition and slightly lower prices. Spring brings the most listings but also the most buyers. For the best deals with reasonable selection, late fall and early winter are the sweet spot.
Whether you are buying, selling, or investing in Richmond, Settle's data-driven approach gives you the edge in today's market.