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Market Report Richmond Va

RVA Train

 

Richmond, VA Real Estate Market Update — Friday, September 12, 2025

Here’s the latest data compiled. Note that some metrics, like new listings, active inventory, months of supply, and pricedrop rates, lack consistent weekly updates; where unavailable, only monthly or yearly comparisons are provided.

Price & Sales Metrics

  • Here’s a fresh Richmond, VA housing market snapshot (late September 2025) — with prioryear and available shortterm context:

    Key Metrics & YearOverYear Trends

  • Median sale price: ~$400,250 in August 2025, up 6.7% YoY. Redfin
  • Median days on market: ~19 days, up from ~12 days a year ago. Redfin
  • Listtosale ratio: ~99.1% (i.e. homes largely sell near asking). newhometeamva.com+1
  • Price reductions: ~15.8% of listings have had price drops. newhometeamva.com
  • Active inventory (Richmond City): ~365 listings in August 2025. Trading Economics
  • Months of supply: ~1.6 months. newhometeamva.com
  • Closed sales: 242 homes sold in August 2025, up ~15.8% YoY (versus 209 last year). Redfin

  • ShortTerm / Local Market Dynamics

  • Compared to July data: earlier reports had median ~$410,000 in July (up ~8% YoY) and 17 median days on market. RVA Realty Inc
  • In September 2025, absorption data shows ~198 closings vs. 314 active listings over the past month. newhometeamva.com
  • ~41.2% of homes sold above asking in current Richmond market. newhometeamva.com

  • Mortgage & Broader Virginia Trends

  • In Virginia more broadly, active listings rose ~26.2% YoY by end of August; new listings ~13,000 in August. https://www.whsv.com
  • Median sales price statewide: $430,000 in August, ~3.6% YoY growth. https://www.whsv.com
  • Mortgage rates: 30year fixed rates in Virginia have recently dipped just past ~6.25%. https://www.whsv.com

  • Notable Local / Market News

  • Richmond continues to rank among “hottest markets” in 2025 per Zillow / Realtor.com forecasts. Axios
  • Local feedback (via forums) suggests more price reductions in established neighborhoods (e.g. Fan, Museum District) and somewhat slower absorption in those segments. Reddit
  • Inventory is loosening somewhat at the state level, offering buyers more choices even as supply remains tight in core Richmond city limits. https://www.whsv.com+1