Is Henrico County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Henrico County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Henrico County has remained a Seller's Market.

Key Takeaway

Henrico County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$25,813(+6.8%)

Key Takeaway

Homes in Henrico County have sold for 6.8% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $175K$199.5K
+14.0%
2 $259.7K$261.8K
+0.8%
3 $330.4K$360K
+9.0%
4 $459.9K$490.7K
+6.7%
5+ $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
+7.4%
Henrico County
+6.8%
Hanover County
+5.4%
Chesterfield County
+4.3%
New Kent County
0.5%

Housing Supply in Henrico County, VA

How many homes are available in Henrico County, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,0021,032+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

# BEDSFeb 2024Mar 2024CHANGE
1 87
-12.5%
2 114123
+7.9%
3 483474
-1.9%
4 273298
+9.2%
5+ 124130
+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 2024Mar 2024CHANGE
281254-9.6%

Asking Price vs. Sold Price

85 Homes Were Sold
Under Asking

38 Homes Were Sold
At Asking

129 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Henrico County, you could pay more than the asking price. 51.2% of homes here sold above asking price last month.

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 2023Mar 2024CHANGE
20 Days22 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Henrico County are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Henrico County, VA

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