What is a Richmond home selling for in 2026?
The median Richmond-metro home sold for $429,788 over the 12 months ending October 31, 2026, across 14,214 closed residential sales in the CVR MLS (Henrico, Chesterfield, Hanover, Goochland, Powhatan and the City of Richmond). The median home sold in 10 days on market. On a $429,788 sale, the Virginia grantor tax is $430.
Want the number for your house? Get a free comparative market analysis or contact us.
What are the line items?
Listing commission. Negotiated between you and your listing brokerage and stated in the listing agreement. It is the largest cost and it is not fixed by law or by any association.
Buyer-agent compensation. Optional since the August 2024 NAR settlement changes; it cannot be advertised on the MLS and is negotiated in each offer. Most Richmond-area sellers still offer some amount because roughly nine in ten buyers are represented, and a buyer whose agent is not being paid by the seller must pay from their own funds — which reduces what they can offer you. Treat it as a pricing decision, not a fee.
Virginia grantor tax. $0.50 per $500 of the sale price (0.1%), paid by the seller at settlement. Some localities in Northern Virginia add a regional transportation tax; Richmond-area localities do not.
Settlement and title. Settlement agent fee, deed preparation, release of your existing deed of trust, wire and courier fees. Typically $500–$1,500 combined in the Richmond market. Owner’s title insurance is normally a buyer expense in Virginia.
Prorations. Property taxes and any HOA dues are prorated to the closing date; depending on when you close you may owe or be credited.
Repairs and credits. After inspection, buyers ask for repairs or a credit. In the current Richmond market sellers typically concede $1,000–$5,000; on older homes with deferred maintenance it can be more. Pre-listing inspection can shrink this number.
Prep and staging. Optional but often the best return on the list: cleaning, paint, minor repairs, and staging where the home is vacant. $500–$5,000 depending on condition.
What does a $400,000 sale look like?
| Item | Assumption | Cost |
|---|---|---|
| Listing commission | Negotiated with your agent | Varies — ask for it in writing |
| Buyer-agent compensation | Offered at a negotiated rate | Varies — your decision per offer |
| Virginia grantor tax | 0.1% of $400,000 | $400 |
| Settlement, deed prep, release | Typical Richmond settlement | $900 |
| Repairs / credit after inspection | Median concession | $2,500 |
| Prep (paint, clean, minor repairs) | Occupied, well-kept home | $1,200 |
| Total excluding commissions | ≈ $5,000 |
Add the two commission lines to that figure to get your all-in cost; with typical Richmond-area rates on both sides the total lands in the 7–9% range, or $28,000–$36,000 on this example. Your net proceeds are the sale price minus that total minus your mortgage payoff. We put this on a written net sheet before you sign a listing agreement so there are no surprises at the closing table.
How can I reduce what selling costs?
Price correctly the first time: homes that need a reduction sell for less than homes priced right at launch, and the difference is usually larger than any commission saving. Do a pre-listing inspection on older homes so repair negotiations are smaller and calmer. Negotiate commission on the basis of what you are getting — hours, marketing, broker involvement — rather than just the rate. And weigh buyer-agent compensation against the offers it brings in rather than treating it as a cost to eliminate.
Where do I get an exact number?
Request a home value and net sheet. We pull closed comparable sales for your specific neighborhood, estimate the sale price range, and itemize every line above for your property. It is free and carries no obligation. Current median prices for your area are on the market data pages.
Who wrote this
Daniel Keeton is the broker and founder of Keeton & Co, with 1,250 closed sides ($408M) in his career and 435 sides ($165.6M) in the last three years (CVR MLS, through Oct 31, 2026). Keeton & Co has offices in Glen Allen (HQ), Forest (15115 Forest Rd) and Charlottesville (969 2nd St SE) and 1,623 five-star Google reviews (see them). Call (804) 556-1228, or request a free home value report or contact us.
Related: Selling in Central Virginia · Buying in Central Virginia · City of Richmond market data · Glen Allen office · About the author
No pressure, no spam
Get a listing plan for your home
A licensed agent reaches out within 5 minutes during business hours, from (804) 556-1228.