Richmond Inventory Surges Yet Prices Keep Climbing

In Richmond, we're seeing a notable shift: active listings have jumped 20.9% over last year, and new listings are up by 9.3%. Even with more choices on the market, the median list price has edged up 2.4% to $440,000. Only 17% of homes needed a price cut, and properties are moving quickly—median time on the market is just 44 days. After four decades helping buyers and sellers in our community, I've witnessed plenty of market cycles, and this blend of rising inventory and resilient prices stands out. Experience and steady guidance can make all the difference navigating these conditions.