📊 Richmond Housing Market Update – April 2025

Paul Cantor
6 days ago
2 min read

What Buyers and Sellers Need to Know Right Now

The Richmond real estate market continues to show resilience and strength this spring. Whether you’re planning to buy, sell, or refinance, staying informed can help you make confident, strategic moves. Here’s what the latest April 2025 data tells us about where things stand.

🏠 Home Prices Continue to Climb

In April, the average sales price across the Richmond metro area hit $459,215, while the median price came in at $398,950. These figures represent a healthy and steady rise in home values — driven by both strong demand and relatively limited supply.

For current homeowners, this means more equity and stronger resale potential. For buyers, it means acting sooner rather than later may be key to getting ahead of further appreciation.

🏡 More Listings, Still Strong Demand

2,221 new listings hit the market in April — a welcomed sign for buyers looking for more choices. But homes are still moving quickly: 1,925 properties went pending, showing that serious buyers are active and ready.

If you’ve been waiting for a “cool-down,” this spring market says otherwise. While we’re seeing more listings, homes that are priced right and well-presented are still going fast.

💵 Price Per Square Foot: What Buyers Are Really Paying

Another key metric: average price per square foot rose to $232, with the median at $220. This shows a consistent rise in what buyers are willing to pay for well-located, move-in-ready homes — especially with improved interest rates helping monthly affordability.

🎯 What This Means for You

Whether you’re buying your first home or thinking about tapping into your home equity, this is a market that rewards action and preparation. With values up and options expanding, now’s the time to have a strategy.

As always, I’m here to help you make smart, confident decisions.