More homes hit the market as Richmond sales continue to rise
Home shoppers in Richmond had more choices in July as the number of homes for sale climbed from a year ago. Sales also moved higher, and prices continued to rise, though at a slower pace than the national market.
Home sales keep moving higher
Home sales in Richmond rose 1.4% in July compared to a year earlier. The gain marked the sixth straight month of annual increases after the market started the year with a slight decline.
While sales rose locally, growth here lagged the national pace. Across the U.S., home sales rose 2.9% from a year ago.
Richmond outperformed some nearby markets. Sales fell 2% in Washington, D.C., and dropped 7.1% in Raleigh over the same period.
For buyers and sellers, the latest numbers point to a market that remains active, even if growth remains modest.
Buyers see more choices
Homebuyers had more options in Richmond in July. About 4,205 homes were listed for sale, up 10% from a year earlier. The increase marked the fifth straight month of year-over-year gains.
More homes were available across all home types. Single-family home listings rose by 297 homes, a 9.5% increase. Townhome listings climbed 10.5%, while condo listings jumped 14.2%.
Inventory growth in Richmond outpaced the national trend. Across the country, the number of homes for sale rose 4.4% from a year earlier. National inventory has now increased annually for 30 straight months.
View the latest homes for sale in Richmond.
Home prices continue to edge up
Richmond home prices moved higher again in July. The median home price reached $424,000, up 1% from a year earlier. That marked the seventh straight month of annual price growth.
Price trends varied by property type. Single-family home prices rose $10,000, or 2.3%, to $440,000. Townhome prices increased 0.9% to $390,000. Condo prices moved in the opposite direction, falling 2.6% to $336,000.
Even with more homes on the market, prices continued to climb, signaling that buyers are still competing for properties.
For shoppers, Richmond offers significantly more options than it did a year ago. At the same time, rising prices continue to create affordability challenges, especially for buyers looking for a single-family home.
Richmond Sale Prices
The median home sale price in Richmond increased by 1% compared to the same time last year, while the national median price rose by 2.6%.
Richmond ranks 24th for annual median price change among the top 40 US markets
Richmond median home prices rose by $4,000 year over year on a nominal basis in July to $424,000. Meanwhile, the national median home price increased by $10,000 to $400,000.
Richmond's median home price is above the nation's
Richmond was the 23rd highest-priced housing market among the top 40 largest markets last month. The Richmond median home price of $424,000 was 6% above the national median home price. Richmond's median home price in July compares to the market's peak of $430,000 recorded in June of 2026.
Richmond single-family prices increase
The median price of Richmond single-family homes rose by $10,000 over the past year to $440,000, while the median townhome price grew by 0.9%, and the median condo price fell by 2.6%.
Richmond Inventory
The number of homes for sale in Richmond increased by 10% in July compared to the same time last year, while national homes for sale rose by 4.4%.
Richmond's inventory of homes for sale increases
Richmond homes for sale rose by 382 year over year in July to 4,205 homes for sale. Richmond ranked 13th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.
Richmond homes for sale are below their pre-pandemic levels
Richmond homes for sale were below their pre-pandemic levels in the month of July. Richmond homes for sale were 30.3% below the July 2019 total of 6,032.
Richmond single-family inventory grows
Richmond single-family homes for sale grew by 9.5% to 3,412 in July. In comparison, townhomes for sale rose by 10.5% to 464, and condos for sale increased by 14.2% to 329.
Richmond Home Sales
The number of home sales in Richmond increased by 1.4% in July compared to the same time last year, while national home sales rose by 2.9%.
Richmond home sales increase
Richmond home sales increased by 22 year over year on a nominal basis in July to 1,631. For context, 1,609 sales closed in Richmond in July 2025.
Richmond's annual home sales activity change ranks 21st nationally
Richmond ranked 21st for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July increase of 1.4% compares to the 4.8% year over year increase in July 2025.
Single-family sales in Richmond are higher than a year ago
Richmond single-family sales increased by 2.9% in July to 1,370. In comparison, townhome sales fell by 18.3% to 147, and condo sales rose by 17.5% to 114.
For questions and commentary about this report:
Nick Leverett, Director of Market Analytics at CoStar and Homes.com, is available for interviews to provide expert insights on this data and the broader residential real estate market.
Nick Leverett
Director of Market Analytics
Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Richmond during July 2026.
For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.
Definition of Sale Prices
Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Inventory
Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Home Sales
The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Days on Market
The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Months of Supply (MOS)
Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Sale to List Price Ratio
The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
About the Homes.com Market Analytics Team
The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.
About Homes.com Analytics Data
The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.
The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.