Monthly market wrap MONTHLY MARKET WRAP Richmond All home types · May 2026 Richmond held steady in May: the key market signals were mixed. Median sale price $700K ▲ +9.4% vs Apr Time to pending 20d ▲ 4 days slower vs Apr Sold over asking 58% ▼ -6 pts vs Apr Active listings 142 ▼ -0.7% vs Apr Generated by ListingCopilot.io Source: Redfin housing market data
Sale price vs asking SALE PRICE VS ASKING Richmond All home types · May 2026 Most Richmond homes are still selling over asking (58%). Price to invite competition. 105.6% average sale price vs. asking price Sold over asking 58% vs. a year ago +1 pts 103.8% 102.3% 100.8% Sold at asking price 105.6% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Are you an agent? Create a branded market page for free like this for your own cities.
Try ListingCopilot → The negotiation gap THE NEGOTIATION GAP Richmond All home types · May 2026 Richmond homes are closing +5.6% above asking. The list price is the floor, not the ceiling. +$79K median sale price minus asking price Median asking price $622K Median sale price $700K $675K $626K $577K Sold Asking Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Median sale price MEDIAN SALE PRICE Richmond All home types · May 2026 Richmond home values are climbing, up +12.6% in a year. $700K median sale price Year over year +12.6% Homes sold last month 67 $697K $623K $549K $700K Jun 2019 Dec 2022 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Time to sell TIME TO SELL Richmond All home types · May 2026 The typical Richmond home goes pending in 20 days, 1 day faster than last year. 20 days median time to pending Gone within two weeks 36% vs. a year ago 1 day faster 42d 28d 14d 20d Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data
Active listings ACTIVE LISTINGS Richmond All home types · May 2026 Richmond inventory is down 34.6% year over year, keeping buyer choice tight. 142 active listings Year over year -34.6% Months of supply 2.1 212 175 138 142 Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Buying or selling in Richmond? Jason tracks this market every month and can give you a local read before your next move.
Price cuts PRICE CUTS Richmond All home types · May 2026 1 in 4 Richmond listings cut its asking price last month. 26% of active listings cut their asking price vs. a year ago -1 pts Active listings 142 27% 23% 19% 26% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data The two-speed market THE TWO-SPEED MARKET Richmond All home types · May 2026 Richmond moves at two speeds: 36% of homes were gone inside two weeks while the rest sat longer. 36% of listings went pending within two weeks Median time to pending 20 days vs. a year ago +2 pts 44% 32% 21% Half of listings 36% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Best month to buy BEST MONTH TO BUY Richmond All home types · May 2026 January is historically Richmond's calmest month for buyers: 3.5 pts less over-asking than May. January historically the calmest month for buyers Buyer's edge vs May -3.5 pts Years of Redfin data 11+ Yearly average J F M A M J J A S O N D -2.1 pts Bars over/under-asking vs the yearly average Line price seasonalityGenerated by ListingCopilot.io Source: Redfin housing market data 10-year price growth WAITING HAS A PRICE Richmond All home types · May 2026 A Richmond home bought in 2016 has gained +63% in value since. +63% median sale price growth since 2016 Median price in 2016 $430K Average gain per year +5.0% $643K $556K $468K $700K May 2016 May 2021 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data For agents only
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