Richmond, VA Housing Market 2026: What Homes Actually Sell For

Richmond produces a steady stream of closings but little consensus: sales over the last six months span a range wide enough that the median is a midpoint between different markets, not a going rate. The distribution below matters more than the headline.

The snapshot

• •Closings tracked, last 6 months: 1,886
• •Median sold price, last 6 months: $402,000
• •Median sold $/sqft, last 6 months: $260
• •Middle half of sales closed between: $287,000 and $620,000

What the numbers say

Resideline tracked 1,886 closed sales in Richmond over the last six months, with a median closing price of $402,000. That median is the midpoint of what buyers actually paid, not what sellers hoped to get, which is why it moves differently from the asking prices you see on listing sites. The middle half of those sales closed between $287,000 and $620,000. That spread matters more than the headline median: where a specific property sits inside it decides whether the citywide number helps you or misleads you. These are the closings Resideline tracks and may differ from complete county or municipal records. The large tracked sample provides substantial market-level evidence. Across the 1,880 closings with usable living area, the middle half sold between $205 and $340 per square foot.

Figures last updated October 3, 2026 from closings Resideline tracked.

Median home price in Richmond, VA (October 2026)

The median home price in Richmond is $402,000, measured across the 1,886 closed sales Resideline tracked over the last six months. The middle half of those sales closed between $287,000 and $620,000.

Where Richmond sale prices land

Medians hide the shape of a market. The distribution above covers the closed sales Resideline tracked in Richmond over the last six months that carry a usable sale date, trimmed to the 5th through 95th percentile, with the middle half of sales closing between $287,000 and $620,000. Among the 60 Virginia markets with a published band, Richmond's middle-half spread ($287,000 to $620,000) ranks 50th from the narrowest. Where your target property sits inside that spread matters more than the citywide median. Measured as the ratio of the upper to the lower quartile, its middle-half spread ranks in the 84th percentile of the 2,230 US markets in Resideline's national Market Watch set, on data as of October 3, 2026.

How long a sale takes here

• •Listed to under contract: a median of 7 days, across 1,393 Richmond closings Resideline tracked in the last six months
• •Contract to closing: a median of 31 days, across 1,373 Richmond closings Resideline tracked in the last six months

Richmond prices by property type

Among the Richmond closings with usable living area over the last six months, single-family houses closed at a median of $253 per square foot (1,377 sales), condos at $328 (258 sales), townhouses at $256 (172 sales) and multi-family homes at $229 (73 sales).

The Richmond angle

Volume and spread point in opposite directions in this data. 1,886 closings makes this among the deepest samples we track, which is good news for comp selection, but the $287,000 to $620,000 band is wider than most markets we track, which means the citywide $402,000 tells you very little about any particular address. Use the depth to solve the width. Watch the direction of the spread as well. More of the band lies above $402,000 than below it, so the high end has more room to vary. A comp set that reaches upward without matching the subject will overstate the result by more than it would understate going the other way.

Richmond market data by ZIP code

Citywide medians hide block-by-block variation. Resideline publishes free, regularly refreshed market snapshots for Richmond ZIP codes: 23223 · 23224.

From market read to offer price

A spread this wide means the citywide number cannot price a specific address; the step that matters is the property-level read. The decision still comes down to one property and one number: what it is actually worth and what you should pay. Every Resideline report opens with this same market snapshot for the subject's exact ZIP code, then gives you the property's value, the sold comps behind it, and a market rent estimate. Pricing a specific deal? The free ARV calculator, rehab cost estimator, BRRRR calculator and rental property calculator run the numbers in about a minute.

And we show our work. Every estimate is frozen while the home is for sale and graded against the real closing price after it sells. See the live accuracy dashboard for the receipts, or read how the Area Market Snapshot works.

Run any Richmond address through Resideline and you will see the local market and the property's value together, in one report.

Cite this

Using these numbers? Please cite the source and the sample size:

Source: Resideline Market Watch
Market: Richmond, VA
Geography: incorporated municipality, Census place 5167000
Data updated: October 2026
Analysis period: last six months
Tracked closings: 1,886
Median sold price: $402,000
Median sold $/sqft: $260 (1,880 qualifying)
https://resideline.com/blog/richmond-va-housing-market

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<a href="https://resideline.com/blog/richmond-va-housing-market">
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<p>Source: <a href="https://resideline.com/blog/richmond-va-housing-market">Resideline Market Watch</a></p>

The local market statistics in this report are calculated from closed sales tracked by Resideline. Transaction coverage may differ from complete county or municipal records.

Every local market figure on this page is computed from closed sales Resideline tracked in Richmond over the last six months, and is refreshed when the data is. The closings we track within the Richmond city limits are not limited to listing-service sales: they also include foreclosure deeds, estate and family transfers, and other off-market sales that portal medians exclude, which is why 20% of the 1,886 closings in this window never appeared on a listing service, and the median of MLS-listed sales alone was $425,000.