Is Richmond, VA 23227 a buyer’s or seller’s market?

The Richmond housing market right now

In the three months ending August 31, 2026, 40% of homes in Richmond, VA 23227 sold above their list price, the typical home went under contract in 14 days and there were 1.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 77 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 35%, homes sold about as fast and the median sale price rose 4% to $389,821. Overall, Richmond is more competitive than a year ago, so tougher for buyers.

Within Henrico County, homes here sell faster than in 55% of the county’s ZIP codes, and sell more often over asking than in 55%. On our competition score, Richmond ranks #25 of 358 VA ZIP codes with enough sales (score 83 out of 100).

Nearby, buyers who want less competition could look at Henrico 23075 (24% sold over asking) or Richmond 23223 (29% sold over asking), while Henrico 23229 (54% sold over asking) and Richmond 23222 (47% sold over asking) are even more competitive.