Buyers in Richmond are seeing fewer options than a year ago, with active listings down nearly 20 percent year over year in this rolling three-month view. Even so, homes sold have inched up compared with last year, and months of supply has shrunk to about two and a half months, reinforcing a clear seller’s market.
Pricing has been edging higher overall, with typical home values up more than 4 percent from a year ago even as median list prices are slightly lower than last year. Strong demand shows up in the numbers, as roughly 60 percent of recent sales closed above list price and the average sale-to-list ratio is a bit above 105 percent.
Speed has picked up meaningfully, with the median home going under contract in about 17 days in the latest three-month period, matching the faster pace seen in mid-2024 and well below earlier periods. With new listings trending lower year over year while closed sales tick higher, both pricing power and time on market favor prepared participants, and Agent Pronto can help both buyers and sellers connect with an agent who understands how to navigate these conditions.
