RICHMOND CITY HOUSING MARKET DATA

There was a decrease in total units sold in July, with 235 sold this month in Richmond City Real Estate versus 260 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 9% versus July 2024.

The total number of homes available this month is 466 units, which is similar compared to a year ago. This month's total of 466 is lower than the previous month's total supply of available inventory of 516, a decrease of 10%.

Last July, the median sale price for Richmond City Homes was $384,000. This July, the median sale price was $423,500, an increase of 10% or $39,500 compared to last year. The current median sold price is 4% lower than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In July, there was 2.0 months of supply available in Richmond City, compared to 1.8 in July 2024. That is an increase of 9% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 283 homes newly listed for sale in Richmond City, which is similar to the amount in July 2024. There were 227 current contracts pending sale this July compared to 179 a year ago. The number of current contracts is 27% higher than last July.

In July, the average sale price in Richmond City was 100.3% of the average list price, which is 2.9% lower than at this time last year.

This month, the average number of days on market was 24, higher than the average last year, which was 17, an increase of 41%.





FOCUS ON: RICHMOND CITY HOUSING MARKET			JULY 2025

Units Sold 235	Active Inventory 466	Median Sale Price $423,500	Days On Market 24

Down -9% Vs. Year Ago	No Change Vs. Year Ago	Up 10% Vs. Year Ago	Up 41% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 235 sold this month in Richmond City Real Estate versus 260 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 9% versus July 2024.
Active Inventory The total number of homes available this month is 466 units, which is similar compared to a year ago. This month's total of 466 is lower than the previous month's total supply of available inventory of 516, a decrease of 10%.
		Median Sale Price Last July, the median sale price for Richmond City Homes was $384,000. This July, the median sale price was $423,500, an increase of 10% or $39,500 compared to last year. The current median sold price is 4% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 283	Current Contracts 227	Sold Vs. List Price 100.3%	Months of Supply 2.0

No Change Vs. Year Ago	Up 27% Vs. Year Ago	Down -2.8% Vs. Year Ago	Up 9% Vs. Year Ago


		Months of Supply In July, there was 2.0 months of supply available in Richmond City, compared to 1.8 in July 2024. That is an increase of 9% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 283 homes newly listed for sale in Richmond City, which is similar to the amount in July 2024. There were 227 current contracts pending sale this July compared to 179 a year ago. The number of current contracts is 27% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Richmond City was 100.3% of the average list price, which is 2.9% lower than at this time last year. Days on Market This month, the average number of days on market was 24, higher than the average last year, which was 17, an increase of 41%.



	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.