Is Richmond County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Richmond County was a Neutral Market.
Housing Prices in Richmond County, VA
How much do homes in Richmond County, VA cost?
Median Sold Price
$260,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richmond County was $260,000 in May 2024, down 1.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $30K | $354.4K | +1081.3% |
2 Bedrooms | $125K | $234K | +87.2% |
3 Bedrooms | $210K | $262.4K | +25.0% |
4 Bedrooms | $359.5K | $292.5K | -18.6% |
5+ Bedrooms | $790K | $177.2K | -77.6% |
Summary: Richmond County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1081.3%, 2 bedroom homes increased by 87.2%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes decreased by 77.6%.
Median Sold Price Compared To Nearby Counties
Essex County | $255K | $289K | +13.3% |
Lancaster County | $479.6K | $531K | +10.7% |
Westmoreland County | $290K | $312K | +7.6% |
Northumberland County | $420K | $432.5K | +3.0% |
Richmond County | $265K | $260K | -1.9% |
Housing Supply in Richmond County, VA
How many homes are available in Richmond County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 59 | +5.4% |
Summary: The Richmond County real estate market had 59 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 34 | 35 | +2.9% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Richmond County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Richmond County in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
8 Days | 35 Days | +337.5% |
Summary: Homes in Richmond County had an average of 35 days on market in May 2024, up by 337.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Richmond County; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.