Richmond is one of 2025's hottest real estate markets, per industry publications
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Richmond is expected to be one of the hottest housing markets in the nation this year, according to reports from two separate industry publications.
Why it matters: Being a top housing market largely means prices are expected to increase and competition for homes to remain fierce.
- That might be good news for Richmond sellers, but less so for frustrated buyers still waiting to buy.
The big picture: Richmond landed at No. 9 on Zillow's hottest markets of the year list, while Realtor.com ranked RVA the fifth top market in the nation.
- Both sites projected higher home value and sales price growth compared to national averages for Richmond in 2025.
- Realtor.com noted being a destination for remote workers is part of what propelled Richmond to the No. 5 spot on their list.
- In Richmond, sellers "have the upper hand as homes fly off the market at record speed," Axios real estate reporter Brianna Crane reports off the Zillow ranking.
By the numbers: Metro Richmond's median home single-family sale price for 2024, as of November (the most recent month available) was $424,000.
- That's (way) up from the $300,000 median single-family home sale price in Richmond at the close of 2020.
Editor's note: This story has been corrected to reflect that Richmond was ranked No. 9 on the Zillow hottest markets list, not No. 10.