Richmond Homes Sell Faster Than the Nation Despite Rising Inventory

Richmond's housing market saw a 17.3% increase in active listings, outpacing the national 1.9% rise, while new listings grew modestly by 2.6%. The median list price dropped 1.4% to $450,000, less than the national 2.5% decline. Only 15.4% of listings had price cuts, below the national 18.8%. Homes sold faster, with a median of 37 days on market, compared to the national 53 days.