Are home prices in Richmond going up or down?
Built from Allen Markel's own listing data · Texas Premier Realty ·
Short answer
For Richmond, the answer is mostly lower. In 0 of the last 12 months the median sale price was above the same month a year earlier, and in 12 it was below. Closed sales over the same 12 months were 2,910, 2% fewer than the 2,958 in the 12 months before. Monthly medians are noisy in smaller markets, so read the direction over a year, not one month.
Month by month against a year ago
We compare each of the last 12 months with the same month a year earlier. In Richmond, 0 months were higher, 12 were lower and 0 were unchanged. Closed sales over the same 12 months were 2,910, 2% fewer than the 2,958 in the 12 months before. Median price per square foot in August was $161, against $173 in the same month a year before. By quarter, the median sale price was $379,150 for 2026-Q3 against $385,450 for 2025-Q3.
What it means for timing
Direction alone does not tell you when to act. A market that is flat in the middle can still be moving in a price band or a subdivision, and a seller and a buyer are usually looking at different bands. A Richmond average is a starting point, not a verdict on any one property, and the right move depends on your timeline, finances and the home itself. If you are thinking about timing a purchase or a sale, talk to us to find the right option for your circumstances.
| Measure | Value |
|---|---|
| Months higher than a year earlier (of 12) | 0 |
| Months lower than a year earlier (of 12) | 12 |
| Closed sales, last 12 months | 2,910 |
| Closed sales, the 12 months before | 2,958 |
| Median sale price, quarter 2025-Q2 | $399,494 |
| Median sale price, quarter 2025-Q3 | $385,450 |
| Median sale price, quarter 2025-Q4 | $385,000 |
| Median sale price, quarter 2026-Q1 | $367,750 |
| Median sale price, quarter 2026-Q2 | $380,000 |
| Median sale price, quarter 2026-Q3 | $379,150 |
Common follow-up questions
Are prices in Richmond falling?
The last 12 months were mostly lower against the year before; the table shows the month counts and quarterly medians.
Can I use this to time the market?
It describes what already happened. It does not predict prices, and no one can promise where they go next.
Sources
Talk it through with Allen
A short call can turn a general answer into one for your address, your timeline and your numbers.
Related questions
What is the median home price in Richmond?
Homes that sold in Richmond over the last six months had a median sale price of $375,500, about $172 per square foot, on 1,572 closed sales.
Read answerHow many homes are for sale in Richmond and in which price bands?
Richmond has 1,496 homes for sale right now, which is about 5.9 months of supply at the recent pace of sales.
Read answerHow long does it take to sell a home in Richmond?
In Richmond, homes that sold in the last 12 months averaged between 77 and 103 cumulative days on the market, depending on the month, and the 1,520 homes for sale now have been listed for an average…
Read answerIs Richmond a buyer's market or a seller's market?
By months of inventory, Richmond is a balanced market right now: 5.9 months of supply, with 1,496 homes for sale against 1,572 sales in the last six months.
Read answerHow many homes sell in Richmond each month?
About 2,910 homes closed in Richmond in the 12 months to August 2026, an average of 242 a month, with 296 in June the busiest month and 155 in January the quietest.
Read answerWhat is the price per square foot for homes in Richmond?
Homes that sold in Richmond in the last six months went for a median of $172 per square foot.
Read answer
Answers describe transactions and public data. They are not legal, tax or financial advice.