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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond County is a buyer's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Richmond County was a Seller's Market.

Key Takeaway

Richmond County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Richmond County, VA cost?

Median Sold Price

$227,500

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

-$11,500(-4.8%)

Key Takeaway

Homes in Richmond County have sold for 4.8% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $485K$30K
-93.8%
2 $142.5K$182.5K
+28.1%
3 $229.5K$231.3K
+0.8%
4 $199.5K$355K
+77.9%
5+ $306K-
N/A

Median Sold Price Compared To Nearby Counties

Northumberland County
+13.6%
Lancaster County
+5.9%
Westmoreland County
+5.6%
Essex County
0.2%
Richmond County
-4.8%

How many homes are available in Richmond County, VA?

Number of Homes For Sale

Oct 2022Nov 2022%
1318+38.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 10
-100.0%
2 43
-25.0%
3 710
+42.9%
4 13
+200.0%
5+ 02
+100.0%

Number of Homes Sold

Oct 2022Nov 2022%
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond County, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
75 Days56 Days-26.0%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Richmond County has remained consistent over time.

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

About Richmond County, VA

Number of homes for sale in Richmond County, VA real estate market have reached 18. The inventory of homes for sale in Richmond County, VA between October 2022 and November 2022 increased by 38.5%. The median list price of listings available in November 2022 was $227,500, while the average time on the real estate market was 56 days. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went down by 93.8%, 2 bedrooms properties became 28.1% more expensive, the cost of 3 bedrooms properties went up by 0.8%, the cost of 4 bedrooms properties went up by 77.9%, prices of 5 bedrooms properties went up by 0%. This housing market inventory have changed: 1 bedroom homes inventory decreased by 100%, the quantity of 2 bedrooms homes went down by 25%, number of 3 bedrooms homes increased by 42.9%, 4 bedrooms homes became 200% more available, 5 bedrooms homes became 100% more available. While more than 1 listings in Richmond County, VA in November 2022 were sold above asking price, there were more than 0 listings sold at asking price, and more than 0 were sold below.

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