Is Richmond, TX 77407 a buyer’s or seller’s market?
Richmond is a balanced market. With about 5.1 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 7% of U.S. ZIP codes, and #706 of 868 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Richmond housing market right now
In the three months ending August 31, 2026, 2% of homes in Richmond, TX 77407 sold above their list price, the typical home went under contract in 55 days and there were 5.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 208 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 5%, homes sold faster (63 days then) and the median sale price fell 4% to $375,667. Overall, Richmond is about as competitive as it was a year ago.
Within Fort Bend County, homes here sell faster than in 53% of the county’s ZIP codes, and sell less often over asking than in 88%. On our competition score, Richmond ranks #706 of 868 TX ZIP codes with enough sales (score 14 out of 100).
Nearby, Sugar Land 77478 (15% sold over asking) and Fresno 77545 (13% sold over asking) are even more competitive.
Run the numbers for 77407
Nearby markets
Beasley 77417Buyer’s market $151 /sq ftFresno 77545Balanced $133 /sq ftFulshear 77441Balanced $174 /sq ftGuy 77444Seller’s market $205 /sq ft Browse all markets →Towns like Richmond nearby
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Questions about Richmond real estate
Is Richmond a buyer’s or seller’s market?
A balanced market: there were 5.1 months of supply in Richmond, TX 77407 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Richmond?
The typical home went under contract in 55 days in the latest three months.
Do homes in Richmond sell over asking?
2% of homes sold above their original list price, and the typical sale closed at 96.3% of the list price.
What are property taxes in Richmond?
About 1.86% of a home’s value a year in Fort Bend County, or roughly $7,440 on a $400,000 home.
What is the median home price in Richmond?
The median sale price was $375,667 in the three months ending August 31, 2026, about $165 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology