Is Henrico, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Henrico has remained a Seller's Market.
Housing Prices in Henrico, VA
How much do homes in Henrico, VA cost?
Median Sold Price
$380,576
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Henrico was $380,576 in May 2024, up 8.7% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $199.7K | +8.0% |
2 Bedrooms | $245.7K | $260K | +5.8% |
3 Bedrooms | $315K | $340K | +7.9% |
4 Bedrooms | $440K | $475.9K | +8.2% |
5+ Bedrooms | $704K | $777.5K | +10.4% |
Summary: Henrico housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 10.4%.
Housing Supply in Henrico, VA
How many homes are available in Henrico, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
690 | 701 | +1.6% |
Summary: The Henrico real estate market had 701 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 81 | 83 | +2.5% |
3 Bedrooms | 309 | 335 | +8.4% |
4 Bedrooms | 222 | 204 | -8.1% |
5+ Bedrooms | 76 | 75 | -1.3% |
Summary: The Henrico housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 1.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
220 | 216 | -1.8% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
133 Homes Were Sold
Over Asking
Summary: A total of 216 homes were sold or pending in Henrico in May 2024, down by 1.8% month-over-month. Of the 213 sold homes, 23% were sold under asking, 14% were sold at asking, and 62% were sold over asking.
Days on Market for Henrico, VA
How long does it take to sell a home in Henrico, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 16 Days | +14.1% |
Summary: Homes in Henrico had an average of 16 days on market in May 2024, up by 14.1% compared to last year.
Breakdown of Home Sale Times
182 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 216 homes were sold in Henrico; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.