Richmond Housing Market: July 2026

Richmond has 2,109 homes on the market right now, and that inventory is what gives you room to negotiate. The median list price sits at $1,039,900, but the split by property type matters more than that single figure. Condos, at a median of $650,000, make up 954 of the active listings, while detached houses run to a median of $2,198,000. Know which of those markets you are actually shopping. The gap between them shapes everything else.

With 2,109 active listings, the pressure sits on the seller's side of the table, not yours. Only 216 of those came on in the last 30 days, which means the bulk of this inventory has been sitting, waiting for a buyer to make a move. That standing supply is your leverage. Use it. Compare the specific home you want against the others in its price band. There are 417 listings between $1M and $1. 5M and another 370 between $1. 5M and $2. 5M, so a seller in either range is competing against real alternatives you can walk to instead. Point to those comparables when you write your offer. The deeper the pool at a given price, the more room you have to ask for concessions on price, closing dates, or repairs. Slow markets reward patient buyers who know the count.

Pick your price band and start there this week. If you are shopping condos, 954 of them are active at a median of $650,000, and a two-bedroom runs around $699,000 across 596 listings. Detached buyers face a different math: 663 houses at a median of $2,198,000. Write down the exact type, bed count, and ceiling you can carry, then pull every active listing that fits. With 66 days as the median time these homes have sat, most sellers you approach have already waited. Make your first offer reflect that. Bring three comparables in the same band, name them, and ask for the concession that matters most to you.