Richmond, VA housing market

Richmond sellers, the typical home here is now worth about three hundred eighty-nine thousand dollars, and the market under that number is quietly one of the steadiest you could ask for. Values are up about 2 percent over the past year, modest growth, but real growth, and it is holding. What stands out is how cleanly homes are moving. The typical listing finds a buyer in about 32 days, roughly a month, which tells you demand is still meeting supply without much drama. Only about 13 percent of active listings have cut their price, so most sellers are getting close to what they ask rather than chasing the market down. There are about 660 homes for sale right now, with roughly 520 new listings coming on, a healthy flow that gives buyers some choice without flooding the market. Notice the gap though: the median asking price sits near four hundred thirty-nine thousand dollars, well above what homes are actually worth. Price to the market, not above it, and you will likely sell inside a month.