City of Richmond, Virginia housing market

Geography. City of Richmond as defined in Keeton & Co's market model (MLS county, city, ZIP and area codes).

Source. Closed and active listings recorded in CVR MLS, replicated nightly. Data through October 3, 2026. Property types: Residential (detached, townhouse/attached, condo, 2–4 unit). Leases, land and commercial are excluded.

Exclusions. Sales under $25,000; distressed and non-arm's-length sales (Auction, Bankruptcy Property, In Foreclosure, REO…).

Sample rules. A figure is suppressed below 5 records, flagged low-confidence below 10, and moderate below 25. Year-over-year comparisons are shown only when both periods have at least 5 records.

Days on market

MLS-reported DaysOnMarket for closings (list-to-contract). Fallback contract_date - on_market_date.

Cumulative DOM

CumulativeDaysOnMarket where reported (CAAR)

Price per square foot

ClosePrice / LivingArea where LivingArea >= 300

Seller concessions

ConcessionsAmount > 0 (CVR only); pct of close price

Contract date

CVR: PendingTimestamp::date; CAAR: on_market_date + DaysOnMarket (proxy). Only Pending/ActiveUnderContract/Closed.

Months of supply

active_at_period_end / (closings in trailing 3 months / 3)

Stale listing

active at period end with (end - on_market_date) > 90 days

On-market date

COALESCE(OnMarketDate, ListingContractDate)

Resolution date

OffMarketDate, else CloseDate/WithdrawnDate/CancellationDate/ExpirationDate by status; NULL while Active/ComingSoon

Price reduction

closed listings with OriginalListPrice > ListPrice; amount = OriginalListPrice - ListPrice

Closed sales

StandardStatus='Closed' AND CloseDate in [start,end]

Went under contract

contract_date in [start,end]

Sale-to-list

median(ClosePrice / ListPrice)

Absorption rate

closed_in_period / active_at_period_end * 100 (period normalized to 30.4 days)

Active listings

on_market_date <= end AND (contract_date IS NULL OR contract_date > end) AND (off_market_date IS NULL OR off_market_date > end); excludes ComingSoon

Sale-to-original-list

median(ClosePrice / OriginalListPrice)

New listings

on_market_date in [start,end]

Under contract

contract_date <= end AND (off_market_date IS NULL OR off_market_date > end)

Methodology Residential sales methodology v1 (v1). Statistics are computed by Keeton & Co's market-intelligence engine from the MLS records above; the commentary interprets those figures and never alters them. Reviewed by Keeton & Co.