Housing Market in Richmond

Richmond's housing market showed real, genuine strength in 2026: Redfin cited a $387,000 median sale price 'last month' (up a real, substantial 10.5% year-over-year), with homes receiving 2 offers on average and selling in around 17 days -- a fast-moving market, though a separate region-wide figure ($395,000 for Jan-Feb 2026, up a more modest 1.4% YoY) shows the pace of appreciation moderating depending on the specific window measured.

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City Median: Real Appreciation, Though the Rate Varies by Window

Redfin cited a $387,000 median sale price for Richmond city "last month" as of the August 2026 search, up 10.5% year-over-year -- a real, substantial appreciation rate. A separate figure specific to the broader Richmond region cited $395,000 for January-February 2026, up a more modest 1.4% year-over-year. Both are disclosed rather than treated as identical geographies or reconciled into one number; the city and the broader region are genuinely different footprints, and the two figures were measured over different windows.

A Fast-Moving Market: Low Days on Market, Multiple Offers

Homes in Richmond received 2 offers on average and sold in around 17 days per Redfin -- a genuinely fast, competitive market by national standards, though this pass did not independently source a citywide inventory or year-over-year days-on-market comparison the way some other metros in this project were able to.

Neighborhood Variance Is Real and Substantial

Richmond's citywide median blends genuinely different neighborhoods. The Fan District ran $667,500 per one source and $750,000 (three months through May 2026, up 5.2% YoY) per another -- both disclosed as a real range. Church Hill runs $310,000-$600,000 for single-family homes (with a $265,000 condo/townhome median), and Scott's Addition runs in the "lower $500,000s" for single-family homes (with a $445,000 condo/townhome median) -- both above the citywide median but below The Fan and the Museum District. See the best-areas topic page in the companion file for the fuller neighborhood-by-neighborhood picture.

Comparison to Other Metros in This Project

Richmond's $387,000-$395,000 median sale price runs meaningfully below several other metros built in this project -- for instance, Denver's $612,000-$640,000 range -- a real, substantive affordability advantage, not a marginal difference, for anyone comparing Richmond against those markets specifically.

A Real, Disclosed Research Gap: No City-Wide $/sqft Figure Found

This pass did not find a reliable, independently sourced citywide median-price-per-square-foot figure for Richmond, consistent with a gap disclosed for several other metros in this project. Confirm current, listing-specific $/sqft figures directly before budgeting for a specific property.

Key takeaways

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Last reviewed: 2026-08-24. Independent research; not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.