Is Richmond, VA 23224 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Richmond is a seller’s market. With about 2.1 months of supply and 37% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply2.1Under 4 months = seller’s market

Sold above original list36.5%Share of sales, last 3 months

Median sale-to-list99.7%Sold price ÷ list price

Median days on market22Listing to accepted offer

Median price per sq ft$217▲ +3.5% vs. last year

Run the numbers for 23224

Prefilled for 23224Can I win this house?Multiple-offer likelihood for a listing Prefilled for 23224Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Richmond 23219Seller’s market $361 /sq ft Richmond 23220Seller’s market $318 /sq ft Richmond 23221Seller’s market $405 /sq ft Richmond 23225Seller’s market $265 /sq ft Browse all markets →

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology