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March Market Update
A Look at the Trends Shaping Richmond
February brought shifts to the Richmond real estate market, with home values rising while the total number of sales declined. These changes reflect the natural ebb and flow of the market as buyers and sellers continue to make strategic moves.
Richmond
Richmond recorded 115 home sales in February, a 10.85% decrease from the 129 sales in January. Despite fewer transactions, home values continued to rise, with the average sales price increasing to $168,679—up 2.15% from last month’s $165,130. Properties in Richmond spent an average of 75 days on the market, remaining unchanged from January.
While sales activity slowed, the increase in home values signals ongoing demand. Whether you’re looking to buy, sell, or simply stay informed, keeping an eye on these trends can help you make the right real estate decisions moving forward.
