The Poore Team
Richmond, VA 23221
Single-Family Homes
Compass
Richmond, VA 23221
Thu Sep 18 2025
This week the median list price for Richmond, VA 23221 is $984,975 with the market action index hovering around 68. This is less than last month's market action index of 73. Inventory has increased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $984,975 | |
| Median Price of New Listings | $1,269,975 | |
| Per Square Foot | $409 | |
| Average Days on Market | 46 | |
| Median Days on Market | 39 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 68 | |
| Strong Seller's Market | ||
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,292,475 | 3,413 | 0.25 - 0.5 acre | 3 | 2.8 | 72 | 1 | 1 | 38 |
| $1,039,000 | 2,790 | 0 - 4,500 sqft | 4 | 3.5 | 97 | 0 | 1 | 70 |
| $809,950 | 2,129 | 0 - 4,500 sqft | 3 | 2.5 | 98 | 1 | 1 | 17 |
| $615,000 | 1,390 | 0 - 4,500 sqft | 3 | 2.5 | 102 | 0 | 1 | 49 |