Is Henrico County, 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 County has remained a Seller's Market.
Housing Prices in Henrico County, VA
How much do homes in Henrico County, VA cost?
Median Sold Price
$403,605
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Henrico County was $403,605 in March 2024, up 6.8% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $199.5K | +14.0% |
2 Bedrooms | $259.7K | $261.8K | +0.8% |
3 Bedrooms | $330.4K | $360K | +9.0% |
4 Bedrooms | $459.9K | $490.7K | +6.7% |
5+ Bedrooms | $725.2K | $782.2K | +7.8% |
Summary: Henrico County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Counties
Charles City County | $270K | $289.9K | +7.4% |
Henrico County | $377.7K | $403.6K | +6.8% |
Hanover County | $409.9K | $432.1K | +5.4% |
Chesterfield County | $373.9K | $390K | +4.3% |
New Kent County | $410.3K | $412.3K | 0.5% |
Housing Supply in Henrico County, VA
How many homes are available in Henrico County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,002 | 1,032 | +3.0% |
Summary: The Henrico County real estate market had 1,032 homes for sale in March 2024, a 3.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 114 | 123 | +7.9% |
3 Bedrooms | 483 | 474 | -1.9% |
4 Bedrooms | 273 | 298 | +9.2% |
5+ Bedrooms | 124 | 130 | +4.8% |
Summary: The Henrico County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 7.9%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
281 | 254 | -9.6% |
Asking Price vs. Sold Price
85 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
129 Homes Were Sold
Over Asking
Summary: A total of 254 homes were sold or pending in Henrico County in March 2024, down by 9.6% month-over-month. Of the 252 sold homes, 34% were sold under asking, 15% were sold at asking, and 51% were sold over asking.
Days on Market for Henrico County, VA
How long does it take to sell a home in Henrico County, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
20 Days | 22 Days | +9.6% |
Summary: Homes in Henrico County had an average of 22 days on market in Mar 2024, up by 9.6% compared to last year.
Breakdown of Home Sale Times
208 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During March 2024, 254 homes were sold in Henrico County; 82% 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.