Is Richlands, VA 24641 a buyer’s or seller’s market?
Richlands is a buyer’s market. With about 7.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 2% of U.S. ZIP codes, and #361 of 362 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Richlands housing market right now
In the three months ending August 31, 2026, 8% of homes in Richlands, VA 24641 sold above their list price, the typical home went under contract in 63 days and there were 7.2 months of supply. Six or more months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 12%, homes sold faster (94 days then) and the median sale price rose 15% to $155,433. Overall, Richlands is more competitive than a year ago, so tougher for buyers.
Within Tazewell County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in 67%.
Nearby, buyers who want less competition could look at Tazewell 24651 (0% sold over asking) or Pounding Mill 24637 (0% sold over asking), while North Tazewell 24630 (38% sold over asking) and Cedar Bluff 24609 (17% sold over asking) are even more competitive.
Run the numbers for 24641
Nearby markets
Bandy 24602 — /sq ftBluefield 24605Balanced $105 /sq ftBroadford 24316 $147 /sq ftCedar Bluff 24609Buyer’s market $101 /sq ft Browse all markets →Questions about Richlands real estate
Is Richlands a buyer’s or seller’s market?
A buyer’s market: there were 7.2 months of supply in Richlands, VA 24641 in the three months ending August 31, 2026. Under three months usually favors sellers, and six or more favors buyers.
How fast do homes sell in Richlands?
The typical home went under contract in 63 days in the latest three months.
Do homes in Richlands sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 91.4% of the list price.
What are property taxes in Richlands?
About 0.62% of a home’s value a year in Tazewell County, or roughly $2,480 on a $400,000 home.
What is the median home price in Richlands?
The median sale price was $155,433 in the three months ending August 31, 2026, about $96 per square foot.
Local agents
See all agents in 24641 →No sponsored agents in 24641 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 24641
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology