Richmond, Virginia Real Estate Market Report – July 2026
What Buyers and Sellers Must Know About Inventory, Prices, and Days on Market Right Now
The Richmond, Virginia single-family market stayed tight in July 2026. Across the Richmond Metro area, 1,049 single-family homes closed, up 0.5% from July 2025, at a median sales price of $460,000, up 2.2%. Homes went under contract quickly, with a median of 19 days on market, down 13.6% year over year, and months supply of inventory at 1.8, down 5.3%. Inside Richmond City, 218 single-family homes closed, up 6.9%, at a median of $450,000, down 3.4%, with a median 17 days on market and 1.5 months of supply, down 16.7%. This report walks through closed sales, median sales price, days on market, and months supply for both Richmond City and the wider Richmond Metro area, what those figures mean for buyers and sellers, and a full FAQ.
Table of Contents
- How Many Homes Sold in Richmond in July 2026
- Median Sales Price and the One-Year Change
- Days on Market in Richmond City and the Metro
- Is Richmond a Buyer’s or Seller’s Market Right Now?
- Richmond City Compared With the Richmond Metro
- What July’s Numbers Mean for Buyers and Sellers
- Frequently Asked Questions
Richmond’s single-family housing market stayed competitive in July 2026. Central Virginia Regional MLS recorded 1,049 single-family closed sales across the Richmond Metro area, up 0.5% from July 2025, at a median sales price of $460,000, up 2.2% year over year. Inside Richmond City, 218 single-family homes closed, up 6.9%, at a median of $450,000, down 3.4%.
Speed is the story this month. Single-family homes across the Richmond Metro area spent a median of 19 days on market, down 13.6% from a year earlier, while homes in Richmond City sold in a median of 17 days, down 5.6%. Months supply of inventory, the CVR MLS measure of how long it would take to sell everything currently listed, stood at 1.8 months across the metro and 1.5 months in the city, down 5.3% and 16.7% respectively.
Richmond’s largest employers, including VCU Health, Capital One, Dominion Energy, and the Virginia state government, continue to anchor housing demand across the city and the surrounding counties. Below, the Mission Realty Team walks through each of the July 2026 CVR MLS single-family figures and what it means if you are planning to buy or sell in Richmond this summer.
How Many Homes Sold in Richmond in July 2026?
Central Virginia Regional MLS recorded 1,049 single-family closed sales across the Richmond Metro area in July 2026, up 0.5% from July 2025. Inside Richmond City, 218 single-family homes closed, up 6.9% year over year.
The city posted the stronger gain of the two. More single-family homes changed hands inside Richmond City this July than last July, while the metro figure was essentially flat year over year at up 0.5%. Sales volume held its ground rather than surging, which is what you would expect in a market with very little standing inventory.
Closed sales count transactions that actually settled during the month, so a July total reflects contracts written largely in May and June. It is the most concrete demand signal in the CVR MLS report because it measures completed purchases rather than intentions.
What Is the Median Sales Price in Richmond VA This Month?
The median sales price for single-family homes across the Richmond Metro area was $460,000 in July 2026, up 2.2% from July 2025. Inside Richmond City, the median was $450,000, down 3.4% year over year.
A dip in the city median does not mean city homes lost value. A median reflects the mix of homes that happened to close that month, and a 218-sale figure moves more easily than a 1,049-sale one. CVR MLS also notes that its percent changes are calculated using rounded figures.
Taken together, the two medians sit close to one another, with the metro number slightly higher. Price movement across the metro is running at a modest single-digit pace rather than the sharp gains of the early 2020s.
How Long Are Homes Staying on the Market in Richmond?
Single-family homes across the Richmond Metro area spent a median of 19 days on market in July 2026, down 13.6% from July 2025. In Richmond City the median was 17 days, down 5.6% year over year.
Both figures moved in the same direction, and that direction was faster. Homes are going under contract more quickly than they were a year ago in the city and across the metro alike, which lines up with the low months supply readings in the same CVR MLS report.
Days on market is a median, not a promise. Half of the single-family homes that closed took longer than the figures above, and pricing, condition, and presentation still decide which side of the median a listing lands on.
Is Richmond Currently a Buyer’s Market or a Seller’s Market?
By the CVR MLS inventory measure, Richmond is a seller’s market. Months supply of inventory for single-family homes was 1.8 across the Richmond Metro area in July 2026, down 5.3% from a year earlier, and 1.5 in Richmond City, down 16.7%.
Months supply estimates how long it would take to sell every home currently listed at the recent pace of sales. Both readings sit well under the level normally described as balanced, and both fell over the past year, meaning supply tightened rather than loosened.
The CVR MLS single-family Sortable Statistics report does not publish a count of active listings, so months supply is the inventory metric to watch here. A falling months supply figure alongside faster days on market points to buyers still competing for a limited pool of homes.
How Does Richmond City Compare With the Wider Richmond Metro?
The city and the metro told slightly different stories in July 2026. Richmond City posted the stronger sales growth, up 6.9% against the metro’s 0.5%, and the faster pace, at a median 17 days on market versus 19 days.
On price, the metro looked stronger. The metro median of $460,000 rose 2.2% year over year, while the city median of $450,000 fell 3.4%. On inventory, the city was tighter, at 1.5 months of supply against 1.8 for the metro, and the city’s supply fell further over the year, down 16.7% compared with down 5.3%.
One note on geography: this report uses Richmond City for the city itself. Chesterfield, Henrico, Hanover, Goochland, and Powhatan counties are reported separately by CVR MLS and are covered in the Mission Realty Team’s county reports.
What Do July’s Numbers Mean for Buyers and Sellers in Richmond?
For buyers, the July 2026 CVR MLS figures describe a market that is still quick and still short on supply. Median days on market fell year over year in both the city and the metro, and months supply fell in both as well. The homes that move are the ones priced in line with recent comparable sales.
For sellers, a metro median of $460,000 and a city median of $450,000 are starting points, not valuations. What sold, in what condition, and on which street matters far more than any citywide or metro-wide median.
Financing costs remain higher than they were before 2022, and that continues to shape what buyers can offer. Rate buydowns and seller-paid closing cost concessions are still common tools for bridging that gap, and whether they make sense depends on the specific property and buyer.
| Area (Single Family, July 2026) | Closed Sales | Closed Sales 1-Yr Chg | Days on Market | Days on Market 1-Yr Chg | Median Sales Price | Median Price 1-Yr Chg | Months Supply of Inventory | Months Supply 1-Yr Chg |
|---|---|---|---|---|---|---|---|---|
| Richmond Metro | 1,049 | + 0.5% | 19 | – 13.6% | $460,000 | + 2.2% | 1.8 | – 5.3% |
| Richmond City | 218 | + 6.9% | 17 | – 5.6% | $450,000 | – 3.4% | 1.5 | – 16.7% |
Frequently Asked Questions About the Richmond VA Real Estate Market
What is the median home price in Richmond, Virginia in July 2026?
The median sales price for single-family homes in Richmond City was $450,000 in July 2026, down 3.4% from July 2025, according to Central Virginia Regional MLS. Across the wider Richmond Metro area the median was $460,000, up 2.2% year over year. These are single-family figures only, and a median is not a valuation of any particular home.
How many homes sold in Richmond in July 2026?
Central Virginia Regional MLS recorded 218 single-family closed sales in Richmond City in July 2026, up 6.9% from July 2025. Across the Richmond Metro area there were 1,049 single-family closed sales, up 0.5% year over year.
Is Richmond a buyer’s market or a seller’s market in 2026?
By the CVR MLS inventory measure it is a seller’s market. Months supply of inventory for single-family homes in July 2026 was 1.5 in Richmond City, down 16.7% from a year earlier, and 1.8 across the Richmond Metro area, down 5.3%. Both readings are well below the level usually described as a balanced market.
How many days does it take to sell a house in Richmond VA?
Single-family homes in Richmond City spent a median of 17 days on market in July 2026, and single-family homes across the Richmond Metro area spent a median of 19 days. Both are medians, so half of the homes that closed took longer than that.
Are homes in Richmond selling faster than they were a year ago?
Yes. Median days on market for single-family homes fell 5.6% year over year in Richmond City, to 17 days, and fell 13.6% across the Richmond Metro area, to 19 days, according to Central Virginia Regional MLS.
Did Richmond home prices go up or down over the past year?
It depends on the geography. The Richmond City median sales price for single-family homes fell 3.4% year over year in July 2026, to $450,000, while the Richmond Metro median rose 2.2%, to $460,000. CVR MLS calculates its percent changes using rounded figures.
How much inventory is available in Richmond right now?
The CVR MLS single-family report measures inventory as months supply rather than as a count of active listings. In July 2026 months supply was 1.5 in Richmond City, down 16.7% year over year, and 1.8 across the Richmond Metro area, down 5.3%.
What does months supply of inventory mean?
Months supply estimates how long it would take to sell every home currently on the market at the recent pace of sales, so a lower number means tighter supply. Richmond City was at 1.5 months in July 2026 and the Richmond Metro area at 1.8 months, and both figures were lower than a year earlier.
Is now a good time to buy a house in Richmond?
That depends on your finances and your timeline, but the July 2026 CVR MLS data describes a competitive market: months supply of 1.5 in Richmond City and 1.8 across the metro, with median days on market of 17 and 19 days. Buyers should expect to move quickly on well-priced homes. The Mission Realty Team can walk you through what that means for your budget.
Should I sell my Richmond home now or wait?
Conditions in July 2026 favored sellers, with months supply at 1.5 in Richmond City and 1.8 across the Richmond Metro area and median days on market of 17 and 19 days. Whether waiting helps you depends on your own plans rather than on a citywide median. The Mission Realty Team recommends a comparable sales analysis on your specific address before you list.
Where does the Richmond market data in this report come from?
Every figure comes from the Central Virginia Regional MLS Housing Market Sortable Statistics report, single-family closed sales for July 2026, current as of August 10, 2026. CVR MLS calculates percent changes using rounded figures.
Do these Richmond figures include condos and townhomes?
No. Every figure in this report is for single-family homes only, as reported by Central Virginia Regional MLS. Condo and townhome activity is tracked separately and is not included here.
Are home prices in Richmond expected to drop in 2026?
The Mission Realty Team does not publish price forecasts. What the July 2026 CVR MLS data shows is a Richmond Metro median up 2.2% year over year and a Richmond City median down 3.4%, alongside months supply that tightened in both areas. Future prices depend on factors this report does not measure.
How does Richmond City compare with the Richmond Metro area?
In July 2026 Richmond City had the stronger sales growth, up 6.9% versus 0.5% for the metro, the faster pace at 17 days versus 19 days, and the tighter supply at 1.5 months versus 1.8 months. The metro had the higher median sales price, $460,000 against $450,000, and the better one-year price change, up 2.2% against down 3.4%.
How often is this Richmond market report updated?
Monthly. Central Virginia Regional MLS publishes these single-family figures each month through its Housing Market Sortable Statistics report, and the numbers shown here are current as of August 10, 2026. They will change with the next release.
Get a Free, Personalized Richmond Market Analysis
Whether you are buying your first home in the city or listing in the suburbs, the Mission Realty Team can walk you through exactly what this month’s CVR MLS single-family figures mean for your goals. Contact the Mission Realty Team today at (804) 601-4960 for a free, no-obligation home valuation or buyer consultation.
