Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
Only on the right house. Neither side has the upper hand in Richmond right now.
Neither side has the upper hand in Richmond. Buyers and sellers are evenly matched. The market will not hand you a discount. You have to find it in one specific listing.
About as many homes are under contract as are sitting unsold. Neither side is desperate. Your room to negotiate depends on the listing, not the market. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.
A typical Richmond home takes 34 days to find a buyer. Half of them take even longer. That is 16% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 663 homes for sale in Richmond. That is 3.4 times the tightest month on record, but below the peak of 979. Supply is growing against last year.
Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Richmond prices have risen in 102 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.
This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.
In Richmond, 47 out of every 100 households rent. That is nearly half. That share has held steady for five years. Richmond added about 7,900 renter households in five years. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.
Households grew 12% in five years. The housing stock grew 11%. The two are moving in step. 7.7% of homes sit empty. That is normal for a healthy market.
The median Richmond household earns $72,269 a year. Incomes here have grown 5.3% a year since 2019. Incomes and home prices are rising in step. A typical home costs 5.9 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. A tenant on the median income can pay about $1,807 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.
That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.
Only on the right house. Neither side has the upper hand in Richmond right now. 105 out of every 100 homes for sale have a buyer, 14% of sellers have cut their price, and a typical home takes 34 days to sell.
Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.
Assume +5.0% a year. Richmond grew 7.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Richmond grows about 5.0% a year. That is the number to type in. Prices rose 2.3% over the last year. That is a timing signal, not a trend.
A typical Richmond home takes 34 days to find a buyer. Half of them take even longer. That is 16% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.
In Richmond, 47 out of every 100 households rent. That is nearly half. That share has held steady for five years. 7.7% of homes sit empty. That is normal for a healthy market.
A tenant on the median income can pay about $1,807 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Richmond household earns $72,269 a year.
23219. Only 39 out of 100 homes there have a buyer. 12% of sellers there have cut their price, and a typical home takes 64 days to sell.
Where it isn't: 23226 ranks #599 in the country for buyer demand. Expect the least room to negotiate there.
ZIP 23222 is on both lists. That is rare. It is the one place in Richmond where leverage and growth overlap.
| ZIP | $/sqft, 2 yrs | $/sqft now | Buyers per home | For sale |
|---|---|---|---|---|
| 23226 | +12.0% | $392 | 1.04 | 38 |
| 23223 | +9.1% | $236 | 0.92 | 111 |
| 23225 | +7.4% | $249 | 1.56 | 43 |
| 23237 | +7.0% | $210 | 1.75 | 28 |
| 23222 | +5.1% | $228 | 0.84 | 71 |
Computed from each ZIP's own ten-year history. ZIPs with fewer than 10 homes for sale are excluded: a median across a handful of listings is noise, not a signal.
Richmond has 28 ZIP codes. Each links to its live market dashboard.
Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.
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