Exclusive: Richmond leads Virginia in 2026 home sales growth
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Illustration: Aïda Amer/Axios
Metro Richmond is seeing the strongest home sales growth among Virginia's major metro areas at this year's halfway mark.
Why it matters: Richmond is showing that a hot housing market doesn't always mean hotter home prices.
State of play: Richmond home sales rose by roughly 10% in the first half of the year, nearly double the 5.5% statewide home sale growth, per Virginia Realtors Association stats shared exclusively with Axios.
- RVA's home sales growth topped Virginia's 10 metro areas, Virginia Realtors chief economist Ryan Price tells Axios.
- And it comes amid the state's busiest spring housing market in four years and as interest rates continue to hover near 6.5%.
What they're saying: "The pent-up demand is very evident because even with those interest rates not really cooperating, we're still seeing more sales," Price tells Axios.
By the numbers: Metro Richmond recorded 7,018 sales from January through June, 580 more than the same period last year, per Virginia Realtors data.
- In Chesterfield, sales were up 12.5%
- Richmond: +11.3%
- Hanover: +5.5%
- Henrico: +4.3%
The intrigue: Condos and townhouses appear to be helping fuel the growth.
- Metro Richmond's closed condo and townhouse sales climbed 10.7% year-over-year in the first half of 2026, compared with 5.2% for single-family homes, according to Richmond Association of Realtors data.
Meanwhile, median sale prices have largely leveled off after years of big increases.
- Hanover: $480,000, +4.3% year-over-year
- Chesterfield: $430,000, + 2.2%
- Henrico: $405,000, flat
- Richmond: $405,000, flat
Yes, but: Inventory remains tight across the region —especially for Richmond homes listed below $350,000.
- Homes at or below that price point saw the steepest drop in listings and available inventory in June, while ones listed for $500,000+ had the highest levels of both, per Richmond Realtors' data.
The bottom line: For Richmond buyers who've been waiting for the market to improve, the good news is that prices are flattening. The bad: Affordable homes are still in high demand.