Is Henrico, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Henrico has remained a Seller's Market.
Housing Prices in Henrico, VA
How much do homes in Henrico, VA cost?
Median Sold Price
$374,993
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Henrico was $374,993 in March 2024, up 7.1% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195.7K | $225K | +14.9% |
2 Bedrooms | $250K | $250.7K | 0.3% |
3 Bedrooms | $309.1K | $332K | +7.4% |
4 Bedrooms | $439.6K | $474.2K | +7.9% |
5+ Bedrooms | $685K | $773.2K | +12.9% |
Summary: Henrico housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 12.9%.
Housing Supply in Henrico, VA
How many homes are available in Henrico, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
557 | 583 | +4.7% |
Summary: The Henrico real estate market had 583 homes for sale in March 2024, a 4.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 73 | 75 | +2.7% |
3 Bedrooms | 272 | 265 | -2.6% |
4 Bedrooms | 152 | 173 | +13.8% |
5+ Bedrooms | 54 | 66 | +22.2% |
Summary: The Henrico housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
155 | 141 | -9.0% |
Asking Price vs. Sold Price
57 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Summary: A total of 141 homes were sold or pending in Henrico in March 2024, down by 9.0% month-over-month. Of the 139 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% were sold over asking.
Days on Market for Henrico, VA
How long does it take to sell a home in Henrico, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 22 Days | +4.2% |
Summary: Homes in Henrico had an average of 22 days on market in Mar 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
114 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 141 homes were sold in Henrico; 81% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.