Blake and Ali Poore Team

Richmond, VA

Single-Family Homes

Long & Foster Real Estate


Richmond, VA

Tue Sep 28 2021
This week the median list price for Richmond, VA is $315,000 with the market action index hovering around 78. This is less than last month's market action index of 83. Inventory has held steady at or around 377. Click here to stay informed with the Richmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Richmond, VA

Tue Sep 28 2021
This week the median list price for Richmond, VA is $315,000 with the market action index hovering around 78. This is less than last month's market action index of 83. Inventory has held steady at or around 377. Click here to stay informed with the Richmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Richmond market.
Median List Price $315,000
Median Price of New Listings $299,975
Per Square Foot $196
Average Days on Market 44
Median Days on Market 21
Price Decreased 35%
Price Increased 3%
Relisted 8%
Inventory 377
Median Rent $1,873
Market Action 78
Strong Seller's Market

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

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
$525,000 2,531 6,500 - 8,000 sqft 4 3 64 23 23 21
$359,700 1,874 4,500 - 6,500 sqft 3 2 55 22 20 21
$276,360 1,440 8,000 - 10,000 sqft 3 2 64 28 28 21
$200,000 1,140 8,000 - 10,000 sqft 3 1 71 23 34 21