Buying or Selling in Richmond VA? What the June 2026 Data Shows

The Richmond area real estate market is posting solid gains heading into summer 2026. If you have been watching from the sidelines, this week's data gives you some compelling reasons to step in.

Mortgage rates fell to 6.48% in Freddie Mac's June 4 Primary Mortgage Market Survey, down from 6.53% the prior week. Rates are not back to the lows many buyers remember, but the gradual decline is real and each fraction of a point improvement expands the pool of buyers who can qualify for homes across Greater Richmond.

For Buyers in Richmond VA

Affordability remains the top challenge for first time home buyers in Richmond, but the numbers suggest conditions are improving. Henrico County homes are selling in roughly 20 days with an average value around $402K, up just 1.8% year over year. Submarkets like Short Pump and Glen Allen offer strong schools, newer construction, and a suburban feel that draws buyers from across the metro. In the City of Richmond, the median sale price sits at $385K, up 0.7% year over year, and neighborhoods like the Fan and the Museum District are pulling buyers who want the walkability and character that only city living delivers. Get your pre approval in order before you tour, because well priced homes are still moving quickly.

For Sellers in Greater Richmond

Chesterfield County is the top appreciating market in the region right now. Median sale prices hit $422K, up 5.4% year over year, driven by steady demand and limited resale inventory. Hanover County is telling a similarly strong story. Average home values in Hanover are running at $394K, up 4.2% annually, and properties in and around Mechanicsville are going pending in as few as five days. Families are drawn to Hanover by excellent schools, more land, and a quieter pace that still keeps Richmond commutes reasonable. If you own a home in Hanover County or Mechanicsville, pricing right and presenting well is the difference between a great result and leaving money on the table.

The National View

NAR revised its 2026 home sales forecast to a 4% gain, acknowledging that elevated mortgage rates are limiting national sales volume. Greater Richmond is outperforming that trend. Local demand from families, first time buyers, and relocating professionals is keeping Richmond competitive at every price point.

Find out what your home is worth or browse current Richmond homes for sale at brettbondarealestate.com.