Richmond Metro Housing Market, September 2026: More Homes to Choose From, Still Selling in 12 Days

The Richmond metro’s median home sold for $430,000 in September 2026, up 2.9% from a year earlier, and it took a median of 12 days. Buyers had more listings to pick from, with active listings up 16.5% over the year.

That’s the part worth sitting with. More choice usually comes with more time, and in September it didn’t.

Snapshot: Richmond metro, September 2026

Measure	September 2026	Versus a year ago
Median sale price	$430,000	+2.9%
Closed sales	1,025	−7.8%
Median days on market	12	−7.7%
Months of supply	2.8	+21.7%
Active listings (month end)	3,314	+16.5%

Prices are medians of closed sales. Months of supply and active listings describe homes for sale at the end of the month.

Why did more listings not slow things down?

Supply grew, though it is still below where it stood in 2019. At month end there were 3,314 active listings, 16.5% more than a year earlier. Compared with September 2019 they were still 11.7% lower.

My interpretation: the market has more breathing room than it did, not a glut. New listings were up only 1.7% from a year ago, at 1,710.

Meanwhile 37.3% of September’s sales closed above their list price, and the sale-to-list price ratio, which compares against the final list price, was 100.0%. I wouldn’t read the above-list share as proof of bidding wars. It only tells you the final price topped the final list price.

How did days on market vary by price?

Speed varied by price. The busiest range, $350K–$500K, had 365 sales at a median of 11 days. The $500K–$750K range had 236 sales, also at 11 days. Homes from $250K to $350K took a median of 15.5 days (198 sold), and $750K to $1M took 18 days (89 sold).

At the top, the $1M-plus band had 50 sales at a median of 9.5 days. With a sample that small, I wouldn’t lean on that one.

Property type matters too. Detached homes had a median of $455,000 from 815 sales, townhouses $376,777 from 122, and condos $355,000 from 88.

What does this mean for buyers?

This section is my interpretation, not a finding in the data.

If you’ve waited for the market to hand you leverage, September gave you a little more room and not much more time. At 2.8 months of supply you can compare more homes than a year ago. A 12-day median still says a home that’s right will not wait around.

Concessions are the tool to watch. 44.7% of closed sales included seller concessions, down 8.6% from a year ago. That’s a share of past sales, so it can’t tell you whether a given seller will agree to one. Ask your agent what concessions have looked like for similar homes nearby.

What does this mean for sellers?

Pricing against last year’s story is the risk. About a quarter of sales (25.9%) had a price reduction, down 6.8% from a year ago. Fewer cuts don’t prove sellers priced correctly, but they do show that most homes sold without one.

Buyers have more choices now, so condition and price carry more weight than they did. A countywide or metro-wide median has never walked through your front door. Your own comparable sales matter more than any headline number.

What to watch next, and my read

Watch active listings and months of supply. If listings keep rising faster than sales, days on market should lengthen first, and I’d expect price reductions to follow. If sales pick up, the cushion could shrink again.

My read is that the Richmond metro looks like a market that is balancing slowly, not turning sharply. I won’t put a number on what comes next, and I wouldn’t trust anyone who does.

What should I do next?

If you’re deciding whether to buy or sell in the Richmond area, tell us your price range and neighborhood and we’ll look at recent sales for homes like yours. Start with our selling page or our buying page, or read more about Daniel Keeton. For one area’s numbers, see our City of Richmond market update or the Glen Allen office.

Source: Keeton & Co analysis of CVR MLS data, September 2026. Data through October 3, 2026. Prices are medians of closed sales; active listings and months of supply describe homes for sale at month end. Year-ago changes are relative percent changes, not percentage points. Full figures are on the Richmond metro market report.