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 April 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

$410,000

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$34,673(+9.2%)

Key Takeaway

Homes in Henrico County have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Henrico County was $410,000 in April 2024, up 9.2% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $165.3K$194.7K
+17.8%
2 $260K$265K
+1.9%
3 $331.9K$365K
+10.0%
4 $458.5K$497K
+8.4%
5+ $731K$788.3K
+7.8%

Summary: Henrico County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 7.8%.

Median Sold Price Compared To Nearby Counties

Charles City County
+13.2%
Henrico County
+9.2%
Hanover County
+5.8%
Chesterfield County
+4.3%
New Kent County
-1.1%

Housing Supply in Henrico County, VA

How many homes are available in Henrico County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,0541,181+12.0%

Summary: The Henrico County real estate market had 1,181 homes for sale in April 2024, a 12.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 76
-14.3%
2 126129
+2.4%
3 481517
+7.5%
4 309365
+18.1%
5+ 131164
+25.2%

Summary: The Henrico County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 25.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
264339+28.4%

Asking Price vs. Sold Price

76 Homes Were Sold
Under Asking

63 Homes Were Sold
At Asking

196 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. 58.5% of homes here sold above asking price last month.

Summary: A total of 339 homes were sold or pending in Henrico County in April 2024, up by 28.4% month-over-month. Of the 335 sold homes, 23% were sold under asking, 19% were sold at asking, and 59% 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

Apr 2023Apr 2024CHANGE
16 Days20 Days+25.9%

Summary: Homes in Henrico County had an average of 20 days on market in Apr 2024, up by 25.9% compared to last year.

Breakdown of Home Sale Times

288 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

15 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 April 2024, 339 homes were sold in Henrico County; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% 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 2 Days Ago

Newest Listings in Henrico County, VA

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