Welcome to this month’s real estate market report for the Richmond Metro, Virginia, including the counties of ChesterfieldHanoverHenrico, and Richmond City.  Sale prices for single-family homes and condos have climbed from August to September, and overbidding of properties continues. Rising home prices are having a slowing effect on the marketpending and closed sales activity has dropped year to year, and inventory remains tight with less than one month of housing and condo supply available. Find out more about the Richmond Metro real estate market in this helpful report.

Are you looking for a home or condo to buy in the Richmond Metro area? Start your search here with our fast easy-to-use search toolFind the perfect property by price, size, location, and more! Be sure you save your favorite properties to tour, then, sign up to be notified as soon as new properties become available so you don’t miss out!

Are you thinking of selling your home or condo, but not sure for what price? Find out what your property may be worth by using our free home valuation tool! Simply enter some basic information about your home or condo and we will provide you a competitive market summary with a suggested list price for your home. Don’t underprice your home, give us a call at 804-396-4625 and we can help!

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🏠 Chesterfield, Hanover, Henrico, & Richmond City Housing Market Quick Stats

The average sale price for single-family homes in the Richmond Metro at the end of September 2022 was $413,798, this is up 11.2% compared to the previous September.

There was a total of 1,076 single-family homes closed during September, this is a drop of 22.6% in closing activity when compared to this time one year ago.

A total of 939 single-family properties went under contract, pending activity has dropped 24.7% year to year.

New listing activity is down compared to the previous September, falling from 1,393 new listings at this time one year ago, to just 1,149 for the month of September 2022.

In the ChesterfieldHanoverHenrico, and Richmond City counties, single-family homes are on the market for an average of 15 days before being sold, up from 12 days one year ago. Sellers of single-family homes in the Richmond Metro are getting 100.8% of their asking price at closing.

At the end of September 2022, there was just one month of single-family home inventory available to buyers in the Richmond Metro.

READ THE IN-DEPTH MARKET REPORT HERE!

🏠 Chesterfield, Hanover, Henrico, & Richmond City Condo Stats Quick Stats

The average sale price for condos in the Richmond Metro at the end of September 2022 was $358,229, which is an increase of 13% compared to the previous September.

There was a total of 240 condos sold in Chesterfield, Hanover, Henrico, and Richmond City counties last month, this is a drop in sales of 2.8% compared to this time one year ago.

There was a total of 201 condos that went under contract in September in the Richmond Metro, this a drop, in closing activity of 23.6% from one year ago. 

New listing activity is slowing down compared to this time one year ago, there were just 223 new listings to come to market in September in the Richmond metro, this is down from 305 one year ago.

Condos in the Richmond Metro are on the market for 24 days before being sold, this is down from 17 days one year ago. Sellers of condos are getting 101.3% of their asking price at closing, and there is just 1.1 month of inventory available.

READ THE IN-DEPTH MARKET REPORT HERE!

💡 How to Take Advantage of the Wild Real Estate Market While it Lasts

Others Have Asked
If you are thinking of selling and wonder how much your house might sell for in today’s Chesterfield and Henrico Counties Real Estate Market, use this instant home value estimate or call 804-396-4625.

📊 Local Market Insight Reports

Richmond Metro Area

📰 Market Reports from 2022

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March 2022April 2022
May 2022June 2022
July 2022August 2022
September 2022

📰 Market Reports from 2021

January 2021February 2021
March 2021April 2021
May 2021June 2021
July 2021August 2021
September 2021October 2021
November 2021December 2021

📍 Browse by Location

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Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.

🏡 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 $371,750 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 $380,00 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 $351,500 or less

Summary
Chesterfield and Henrico Counties Market Report - This Month 2022
Article Name
Chesterfield and Henrico Counties Market Report - This Month 2022
Description
The average sale price for single-family residential homes in the counties of Chesterfield, Henrico, Hanover, and Richmond City at the end of September 2022 was $413,798, this is up 11.2%
Author
Publisher Name
The Wilson Group
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