CENTRAL VIRGINIA/RICHMOND HOUSING MARKET DATA

There was a decrease in total units sold in August, with 1,612 sold this month in Central Virginia/Richmond Real Estate versus 1,726 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 4% versus August 2024.

Versus last year, the total number of homes available this month is higher by 144 units or 4%. The total number of active inventory this August was 3,616 compared to 3,472 in August 2024. This month's total of 3,616 is lower than the previous month's total supply of available inventory of 3,807, a decrease of 5%.

Last August, the median sale price for Central Virginia/Richmond Homes was $385,000. This August, the median sale price was $400,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 3% lower than in July.

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

In August, there was 2.2 months of supply available in Central Virginia/Richmond. The amount of supply is similar compared to 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 1,850 homes newly listed for sale in Central Virginia/Richmond compared to 1,964 in August 2024, a decrease of 6%. There were 1,514 current contracts pending sale this August compared to 1,482 a year ago. The number of current contracts is 2% higher than last August.

In August, the average sale price in Central Virginia/Richmond was 100.3% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 26, which is similar compared to a year ago.





FOCUS ON: CENTRAL VIRGINIA/RICHMOND HOUSING MARKET			AUGUST 2025

Units Sold 1,612	Active Inventory 3,616	Median Sale Price $400,000	Days On Market 26

Up 4% Vs. Year Ago	Up 4% Vs. Year Ago	Up 4% Vs. Year Ago	No Change Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 1,612 sold this month in Central Virginia/Richmond Real Estate versus 1,726 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 4% versus August 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 144 units or 4%. The total number of active inventory this August was 3,616 compared to 3,472 in August 2024. This month's total of 3,616 is lower than the previous month's total supply of available inventory of 3,807, a decrease of 5%.
		Median Sale Price Last August, the median sale price for Central Virginia/Richmond Homes was $385,000. This August, the median sale price was $400,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 3% lower than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 1,850	Current Contracts 1,514	Sold Vs. List Price 100.3%	Months of Supply 2.2

Down -6% Vs. Year Ago	Up 2% Vs. Year Ago	Down -0.9% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In August, there was 2.2 months of supply available in Central Virginia/Richmond. The amount of supply is similar compared to 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 1,850 homes newly listed for sale in Central Virginia/Richmond compared to 1,964 in August 2024, a decrease of 6%. There were 1,514 current contracts pending sale this August compared to 1,482 a year ago. The number of current contracts is 2% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Central Virginia/Richmond was 100.3% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 26, which is similar compared to a year ago.


	*Defined as the counties of Amelia, Buckingham, Caroline, Charlotte, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King & Queen, King William, Louisa, Lunenburg, New Kent, Nottoway, Powhatan, Prince Edward, Prince George, Sussex and the cities of Colonial Heights, Hopewell, Petersburg, and Richmond in VA
	*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/SCAR/BRIGHTMLS 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/SCAR/BRIGHTMLS or Long & Foster Real Estate, Inc.