Richmond housing market update — September 2026
Bottom line: Richmond-area single-family prices are up 4.7% from a year ago to a $450,000 median, and homes sold after 26 days on the market. Contracts signed (pending sales) dropped, which points to a quieter fall.
Single-family homes
Metric | Sept 2025 | Aug 2026 | Sept 2026 | vs. Sept 2025 |
Median price | $430,000 | $450,000 | $450,000 | ▲ 4.7% |
Days on market | 30 | 22 | 26 | ▼ 13.3% |
% of original list price | 99.1% | 99.5% | 99.5% | ▲ 0.4% |
Months of supply | 2.0 | 1.8 | 2.1 | ▲ 5.0% |
Pending sales | 932 | — | 802 | ▼ 13.9% |
Closed sales | 828 | — | 782 | ▼ 5.6% |
Condos and townhomes
Metric | Sept 2025 | Aug 2026 | Sept 2026 | vs. Sept 2025 |
Median price | $360,990 | $379,370 | $369,475 | ▲ 2.4% |
Days on market | 39 | 46 | 35 | ▼ 10.3% |
% of original list price | 98.0% | 97.6% | 97.8% | ▼ 0.2% |
Months of supply | 3.2 | — | 3.1 | ▼ 3.1% |
Pending sales | 223 | — | 201 | ▼ 9.9% |
Closed sales | 226 | — | 212 | ▼ 6.2% |
An em dash (—) means that figure wasn't in the August update.
Three things to know
Prices held, speed eased. Single-family stayed at $450,000 from August, but days on market rose from 22 to 26 and supply from 1.8 to 2.1 months. A balanced market is 5 to 6 months.
Pending sales reversed. They rose in August but are down 13.9% (single-family) and 9.9% (condo) from last year. Expect softer closings in October and November.
Condos moved faster. Days on market fell from 46 to 35, though the median slipped 2.6% from August to $369,475.
What it means
Buyers: slightly more choice (supply up from 1.8 to 2.1 months) and more negotiating room on condos (97.8% of list). Get pre-approved before touring.
Sellers: homes priced right from day one are still getting 99.5% of original list. A realistic starting price matters more as contracts cool.
Year to date: single-family closed sales are up 2.1% with a $449,000 median (+3.2%). Condos are up 2.6% with a $375,000 median (+1.4%).
A metro-wide median says nothing about your specific home. A comparative market analysis does, with no cost and no obligation to list.
Compare with the August 2026 update, or browse Richmond real estate questions, answered.
About the author
Steve Davis is a REALTOR® with River Fox Realty in Richmond, Virginia, and a Richmond native. He represents buyers and sellers across Richmond and the Chesterfield and Henrico county areas, and is a member of the Richmond LGBTQ+ Chamber of Commerce. Reach him at 804-787-0636 or steve@riverfoxrealty.com.
Source: Central Virginia Regional MLS Local Market Update, September 2026 (Chesterfield, Hanover, Henrico and Richmond City), current as of October 10, 2026; August figures from the August 2026 update. Percent changes use rounded figures; prices exclude sale concessions and down-payment assistance. Equal Housing Opportunity. Steve Davis is a licensed REALTOR® in Virginia with River Fox Realty. Real estate services are available to everyone without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, familial status, or disability.
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