Latest September 2026 Market Data: Richmond, Henrico, Chesterfield, Hanover, New Kent & Hampton Roads
"September is settling into that comfortable rhythm I love in Virginia real estate. The summer rush has passed, the PCS wave has landed, and the market has moved into a steady, deliberate pace as we go through the second week of the month. I review the latest MLS and regional data every week so my clients never have to guess what is actually happening in their community. Here is what the freshest research reveals across the areas I serve. "
- Shannon Russell, MRP
As we move through September,the story of 2026 remains consistent: this is a healthier, more balanced market than the frenzied conditions we saw earlier in the decade. Inventory is up across nearly every community I serve, price growth has settled into a sustainable single-digit pace,and buyers finally have real choices again. The latest numbers keep confirming that, county by county.
The figures below are compiled from the Central Virginia Multiple Listing Service(CVR MLS),the Real Estate Information Network(REIN) for Hampton Roads,county-level real estate reports,and trusted research sources including Redfin Housing Market Data,the Zillow Home Value Index,Mission Realty,Long&Foster,and FRED economic data. The most recent complete reporting windows are June for the Richmond metro and July for Hampton Roads,which is typical for MLS data as it lags the market by a few weeks. Let me walk you through what the freshest numbers mean for each community.
Greater Richmond Metro Overview: More Choices, Steady Prices
The greater Richmond metro,spanning Richmond City,Henrico County,Chesterfield County,and Hanover County,continues to show the steady,sustainable conditions we have tracked all year. Median days on market across the metro ran about 37 days in the most recent data,roughly six days faster than a year ago,a sign that buyer demand has stayed healthy. The typical asking price for active listings sits near $450,000,while closed sales have clustered between roughly $400,000 and $435,000 in recent months. The median price per square foot across the metro comes in around $229,up modestly year-over-year.
Active inventory at the metro level is up roughly 12 to 18 percent year-over-year,giving buyers the widest selection we have seen in years. Months of supply across most counties now runs about two to three months,a far cry from the sub-two-month conditions that defined much of 2021 through 2023. The market still leans toward sellers overall,but negotiating room is growing in nearly every price range and community. This is what a healthier housing market looks like,andafter several intense years,it is a welcome change of pace.
Community by Community: The September Market Snapshot
Every community has its own market personality. Here is the freshest data I have for each area I serve,with the most current complete numbers available.
Richmond City
Richmond City continues to draw its mix of young professionals,downsizers,families,and investors who value walkability and downtown energy. The median sale price came in around $402,500 in the most recent city-level monthly data,up about 4.3 percent year-over-year. Days on market for the city proper ran about 37 to 39 days,with roughly 1,200 to 1,250 active listings.
High-demand neighborhoods like The Fan,Museum District,Church Hill,and Jackson Ward still see strong interest,and well-priced homes in walkable spots near the Virginia Capital Trail and the James River often attract multiple offers in the first week. For military families,Richmond City offers a vibrant urban lifestyle with reasonable driving distance to most regional installations,including Fort Gregg-Adams,and Joint Base Langley-Eustis. There is nothing quite like city living in Virginia,and Richmond does it with charm,
Henrico County
Henrico remains one of the most active and sought-after markets in the region. The latest county report shows median sale price around $421,500,up roughly 4.9 percent year-over-year,with homes averaging about 18 days on market and about 1.9 months of supply. In high-demand pockets like Short Pump,Glen Allen,and the West End,single-family medians push closer to $520,000,though other corners of the county offer far more accessible entry points. The Varina district in the east,for example,offers some of the county's best value,with spacious lots,quiet streets,and mature trees minutes from downtown Richmond,
Chesterfield County
Chesterfield continues to offer the widest selection of inventory in the metro,making it a prime destination for buyers who want choices. The median sale price is approximately $409,900,with homes averaging about 21 days on market and roughly 2.4 months of supply. Active inventory has grown meaningfully year-over-year,and the county ranks among the closest in the region to a balanced market. Popular communities like Brandermill,Woodlake,and the Midlothian corridor remain strong draws for families who value well-regarded schools and more home for their dollar. If you are looking for where buyers have the most room to compare options,and negotiate,Chesterfield is where I point them first,
Hanover County
Hanover commands a premium price point among the surrounding counties,with a median of approximately $448,000,up about 5.1 percent year-over-year from roughly $426,300 a year ago. Homes average about three weeks on market,and the county's excellent school system and larger lot sizes continue to be the primary drivers for family relocations. The Mechanicsville side of the county offers more affordable entry points,with prices in the $320,000 to $400,000 range for many listings,making Hanover a great fit for buyers who want top schools without sacrificing value,
New Kent County
New Kent remains one of my favorite stories in the region,and the latest research shows prices have plateaued after several years of strong growth. Depending on the monthly window and data source,county median sale prices have ranged from roughly $435,000 to about $461,000,with the Zillow Home Value Index sitting near $433,000. Recently sold homes average about 36 to 46 days from listing to pending,partly because the inventory mix includes custom builds,and estate lots that naturally take longer to sell. New construction remains amajor story here,with active communities still drawing military families assigned to the Peninsula bases alongside remote workers,and families seeking acreage. If you want space,newer homes,and a slower,more deliberate pace,New Kent deserves a hard look,
Prince George, Hopewell, Petersburg and the Tri-Cities
The area surrounding Fort Gregg-Adams continues to offer some of the most affordable housing in the entire region. Prince George County,and the cities of Hopewell,and Petersburg provide excellent options for military families,and first-time buyers who want to stretch their purchasing power while staying close to the installation. The market here moves at a more measured pace than the inner-ring suburbs,giving buyers time to explore options,and consistent demand from the military presence at Fort Gregg-Adams keeps this market healthy. For families with PCS orders,this area represents one of the strongest values in my entire service territory,offering excellent square footage,and lot sizes at price points that are hard to find closer to downtown Richmond. It is remarkable how much house,land,and neighborhood you can get in the Tri-Cities area right now,
Hampton Roads: Steady Demand, Another Record Month
The Hampton Roads region,including Newport News,Hampton,Williamsburg,James City County,and the Southside cities,remains seller-favorable,but healthier than it has been in years. The Real Estate Information Network reports the July median sale price reached approximately $389,900,up about 5.9 percent year-over-year from roughly $368,250,and June posted a record regional median of $395,000.
Active listings across the region topped 5,752 in June,up about 5.8 percent year-over-year,with 2,717 pending sales,up more than 14 percent,and 2,721 settled sales,up about 7 percent. Median days on market ran about 19 days,with about 2.7 months of supply region-wide. That growing supply,combined with steady demand from the region's military bases,creates the most balanced conditions buyers have seen in years. Pending and settled sales both ticked upward year-over-year,a sign the market remains healthy,and active,
Newport News and the Peninsula
Newport News remains one of the most accessible markets in the region,with median sale prices running approximately $356,000,up about 6.4 percent year-over-year. That strong value,combined with proximity to Fort Eustis,Newport News Shipyard,and Joint Base Langley-Eustis,makes it a favorite for military families,and first-time buyers. Homes here move at a steady clip,and the Peninsula continues to offer some of the best affordability-to-commute ratiosin my service area,
Virginia Beach, Norfolk and the Southside
On the Southside,the detached-home median in Virginia Beach runs around $470,000,with homes there selling in about 12 days on average,the fastest-moving market in the region,upon about 1.9 months of supply,and a sale-to-list price ratio above 99 percent. Attached homes in Virginia Beach sit closer to $299,000,keeping the region's most popular city within reach for more budgets. Norfolk sits closer to $325,600 in recent monthly data,up about 3.4 percent year-over-year,with roughly 860 homes on the market,and average days on market around 29 days. For families assigned to Naval Station Norfolk or Little Creek,these cities offer the most convenient commutes without crossing the bridge-tunnels,
Five Notable Shifts in the September Data
1. Inventory Growth Continues to Give Buyers Choices
The single biggest theme of 2026 is still the expansion of active listings. Richmond metro inventory is up roughly 12 to 18 percent year-over-year,Chesterfield offers the widest selection in the region,and Hampton Roads topped 5,752 active listings in June,up about 5.8 percent. Buyers who felt squeezed by slim choices are finding real relief,and Septemberis shaping up to be one of the best shopping windows of the year,
2. Price Growth Tells Two Slightly Different Stories
Central Virginia has settled into an essentially stable groove: asking prices are about flat year-over-year,and closed sales are clustered in the low $400,000s. Hampton Roads,by contrast,is still climbing,with a July median up about 5.9 percent anda record June median of $395,000. If you have been waiting for prices to cool before buying,Central Virginia is already giving you that breathing room,while Hampton Roads buyers should expect values to keep edging up,
3. Days on Market Are Normalizing Across the Board
Richmond metro homes sit about 37 days on average,roughly six days faster than a year ago,while Hampton Roads average about 19 days,and Virginia Beach detached homes about 12. Homes are no longer selling in the two-day windows we saw in the pandemic years,but well-priced homes still move quickly. That means buyers have just enough time to do their homework,and sellers still see timely results when they price realistically,
4. Military Demand Keeps the Region Resilient
Virginia's bases generate consistent,year-round demand,and every data release reinforces how important that is to our market health. Hampton Roads pending sales jumped more than 14 percent year-over-year in June,and sales hit a record monthly median. As an MRP-certified agent,I work with military families every week,and the VA loan remains one of the most powerful financing tools available,with zero down payment,no private mortgage insurance,and competitive rates. Whether you are arriving on PCS orders or preparing to move out of state,I help families navigate the process with confidence,and clarity,
5. The Fall Market Is Setting Up to Be a Strong Window
With inventory still climbing,demand steady,and the summer rush behind us,conditions today look increasingly favorable for both buyers,and sellers this fall. Fewer competing offers,more time to tour homes,and motivated sellers who want to close before the holidays create opportunities that first-time buyers,and growing families should take advantage of. I always tell my clients that fall can offer some of the best opportunities of the entire year,
What Do the Numbers Mean for Your Situation?
Market data is most useful when we apply it to your specific circumstances. A first-time buyer looking at townhomesin Chesterfield will have a very different experience from amilitary family with fall PCS orders searching near Fort Gregg-Adams,or alongtime Henrico homeowner deciding whether to list before the holidays. Timing,home type,price range,and neighborhood all change what the numbers mean for you,
That is why I offer a free,no-obligation personalized market analysis for anyone buying or selling in the communities I serve. I will pull the most recent comparable sales from your specific neighborhood,walk you through what the data says,and give you honest,straightforward guidance about your options. No pressure,and no gimmicks,just real,local information from someone who knows these communities inside and out,
Let Me Research Your Neighborhood
Whether you are buying your first home,relocating with the military,or thinking about selling,I can show you exactly what the market looks like in your specific community. Call,email,or schedule a time to talk.
Data sourced from Central Virginia Multiple Listing Service(CVR MLS),Real Estate Information Network(REIN) for Hampton Roads,Redfin Housing Market Data,Zillow Home Value Index,Mission Realty,Long & Foster Market Minute,FRED Economic Data,and county-level real estate market reports for Richmond City,Henrico County,Chesterfield County,Hanover County,New Kent County,and the Hampton Roads region. All figures reflect the most recent complete reporting windows(June through July 2026)as of early September,and are subject to revision. Data varies modestly by source,and geography. This information is provided for general informational purposes,and does not constitute a formal appraisal or market analysis. Contact Shannon for a personalized evaluation of your specific property or search criteria,
Shannon Russell
Military Relocation Professional (MRP)and Realtor
Shannon helps military families,first-time home buyers,and local Virginia sellers navigate real estate transitions with clarity,and confidence. She was awarded the 2025 Silver Award from Better Homes,and Gardens Real Estate,and serves the Richmond metro,surrounding counties,and the Hampton Roads area. Reach out for a personalized market analysis of your specific community,
Call Shannon at (804) 803-1080 or schedule a quick consultation
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