Welcome to this month’s Richmond, Virginia metro area real estate market report covering the communities of Chesterfield, Hanover, Henrico, and Richmond City. Curious to know how the real estate market has performed over the last month, this helpful report will get you up to date.

Are you ready to buy a home in the Richmond metro area? You can use our site to search for homes in places such as Chesterfield, Hanover, Henrico, or Richmond City. Search for homes by price, size, or zip code. Make sure to save your searches and sign up to be notified as soon matching properties become available.

If you are thinking of selling your home we can help! First start by getting an idea of your home’s worth by using our free home valuation tool. Simply answer a few questions and we will provide you insight about your home’s market value.

πŸ“Š Chesterfield, Hanover, Henrico, & Richmond City Housing Stats

The average sales price for single-family homes in the Richmond Metro Area for July was $343,007, up 6.8% from $320,091 one year ago.

There were 1,491 sales of single-family homes and only one unit from 1,492 one year ago.

In the Chesterfield, Henrico, Hanover, Richmond City areas there were 1,644 pending sales, a year to year increase of 27.1% from 1,293.

A total of 1,690 new listings to hit the Chesterfield, Hanover, Henrico, and Richmond City markets at the end of summer, this is a slight decrease of 2.0% from 1,724 one year ago.

Homes averaged 25 days on the market and sellers were getting 100.1% of the asking price for their home.

In Chesterfield, Hanover, Henrico, and Richmond City there has been a year to year decrease in inventory, shrinking 50% from 2.4 to 1.2 months of supply available.

Chesterfield, Hanover, Henrico, & Richmond City Condo Stats

The average sale price for condos in the Richmond Metro Area last month was $281,681, up 7.0% from $263,171 twelve months ago.

Last month there were 266 condo sales closed, up 6.0% from this time last year.

A total of 332 condos had pending offers, a steep increase of 50% from 220 twelve months ago, and there were 313 new condos listed for sale in the Chesterfield, Hanover, Henrico, and Richmond City areas, also an increase of 17.2% compared to this time last year.

Condos averaged 34 days on the market before being sold, the days on market staying the same year to year.

Condo inventory shrank year to year, from 2.1 months of supply to 1.5 months of supply available.

In the Richmond Metro Area sellers were getting 99.2% of their asking price, a slight decrease from 99.7% one year ago.

πŸ—ž What Does This Mean For Buyers?

Buyers can expect to see higher prices and less inventory as the summer buying season slows. Buyers may find sellers who are motivated to sell before winter hits.

Buyers should have financing in place and be prepared to act when a perfect property is found. It is essential to work with an experienced and knowledgeable realtor who can help you submit the most competitive offer that stands out among all other bids. Give us a call today!

πŸ’Έ What Does This Data Mean For Sellers?

We are definitely in a seller’s market and now is the time to get your home listed and on the market. Demand is still persistent and sellers may field multiple offers.

It is important when selling your house to have it priced competitively and correctly. We put our experience to work for you to market your home to the most qualified buyers to get you the most money. Give us a call today to get started!

🏑 Richmond Metro Area Homes for Sale

Here are the most recent home listings just added to the database in the median sale price range for Richmond Metro Area – all homes here are priced at $343,007 or less.


🏑 Chesterfield County Homes for Sale

Here are the most recent home listings just added to the database in the median sale price range for Chesterfield County – all homes here are priced at $331,552 or less.


🏑 Henrico County Homes for Sale

Here are the most recent home listings just added to the database in the median sale price range for Henrico County – all homes here are priced at $350,473 or less.


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