CENTRAL VIRGINIA/RICHMOND HOUSING MARKET DATA

There was an increase in total units sold in April, with 1,541 sold this month in Central Virginia/Richmond Real Estate, an increase of 12%. This month's total units sold is similar compared to a year ago.

Versus last year, the total number of homes available this month is higher by 240 units or 8%. The total number of active inventory this April was 3,154 compared to 2,914 in April 2024. This month's total of 3,154 is higher than the previous month's total supply of available inventory of 3,023, an increase of 4%.

Last April, the median sale price for Central Virginia/Richmond Homes was $387,500. This April, the median sale price was approximately the same at $399,925. The current median sold price is 3% higher than in April 2024.

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

In April, there was 2.0 months of supply available in Central Virginia/Richmond, compared to 1.9 in April 2024. That is an increase of 8% 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 2,469 homes newly listed for sale in Central Virginia/Richmond compared to 2,123 in April 2024, an increase of 16%. There were 1,919 current contracts pending sale this April compared to 1,742 a year ago. The number of current contracts is 10% higher than last April.

In April, the average sale price in Central Virginia/Richmond was 101.8% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.





FOCUS ON: CENTRAL VIRGINIA/RICHMOND HOUSING MARKET			APRIL 2025

Units Sold 1,541	Active Inventory 3,154	Median Sale Price $399,925	Days On Market 29

No Change Vs. Year Ago	Up 8% Vs. Year Ago	Up 3% Vs. Year Ago	Up 12% Vs. Year Ago


		Units Sold There was an increase in total units sold in April, with 1,541 sold this month in Central Virginia/Richmond Real Estate, an increase of 12%. This month's total units sold is similar compared to a year ago.
Active Inventory Versus last year, the total number of homes available this month is higher by 240 units or 8%. The total number of active inventory this April was 3,154 compared to 2,914 in April 2024. This month's total of 3,154 is higher than the previous month's total supply of available inventory of 3,023, an increase of 4%.
		Median Sale Price Last April, the median sale price for Central Virginia/Richmond Homes was $387,500. This April, the median sale price was approximately the same at $399,925. The current median sold price is 3% higher than in April 2024. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 2,469	Current Contracts 1,919	Sold Vs. List Price 101.8%	Months of Supply 2.0

Up 16% Vs. Year Ago	Up 10% Vs. Year Ago	No Change Vs. Year Ago	Up 8% Vs. Year Ago


		Months of Supply In April, there was 2.0 months of supply available in Central Virginia/Richmond, compared to 1.9 in April 2024. That is an increase of 8% 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 2,469 homes newly listed for sale in Central Virginia/Richmond compared to 2,123 in April 2024, an increase of 16%. There were 1,919 current contracts pending sale this April compared to 1,742 a year ago. The number of current contracts is 10% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in Central Virginia/Richmond was 101.8% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.


	*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.