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 neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Richmond County was a Buyer's Market.

Key Takeaway

Richmond County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Richmond County, VA

How much do homes in Richmond County, VA cost?

Median Sold Price

$272,500

$191/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$167,500(-38.1%)

Key Takeaway

Homes in Richmond County have sold for 38.1% less than they did a month ago.

Summary: The median home sold price in Richmond County was $272,500 in April 2024, down 38.1% from last month, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 -$205K
N/A
3 $440K$293.1K
-33.4%
4 $760K$290K
-61.8%
5+ --
N/A

Summary: Richmond County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 33.4%, 4 bedroom homes decreased by 61.8%, and 5+ bedroom homes did not change.

Housing Supply in Richmond County, VA

How many homes are available in Richmond County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4856+16.7%

Summary: The Richmond County real estate market had 56 homes for sale in April 2024, a 16.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 56
+20.0%
3 2933
+13.8%
4 99
0.0%
5+ 47
+75.0%

Summary: The Richmond County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 13.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
48+100.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond County, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Richmond County in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 0% were sold at asking, and 38% were sold over asking.

Days on Market for Richmond County, VA

How long does it take to sell a home in Richmond County, VA?

Average Sale Time

Mar 2024Apr 2024CHANGE
15 Days82 Days+442.6%

Summary: Homes in Richmond County had an average of 82 days on market in Apr 2024, up by 442.6% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Richmond County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 8 homes were sold in Richmond County; 25% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 63% 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 17 Days Ago

Newest Listings in Richmond County, VA

Nearby Markets to Richmond County, VA

What housing markets are near Richmond County, VA?