Latest September 2026 Market Data: What the Numbers Say for Richmond, Henrico, Chesterfield, Hanover, New Kent & Hampton Roads
"Every week I sit down with the latest MLS and regional research so my clients never have to guess what is happening in their community. With summer officially behind us and fall just around the corner, I wanted to put together a clear, up-to-date snapshot of where prices, inventory, and days on market stand across Richmond, Henrico, Chesterfield, Hanover, New Kent, and the Hampton Roads area. Here is what the freshest numbers tell me, and what they mean for your next move."
- Shannon Russell, MRP
What is the real estate market doing across Virginia right now? The short answer is that we are in the healthiest, most balanced market we have seen in years. Prices are still climbing at a steady single-digit pace in most communities, inventory keeps growing, and homes are taking a bit longer to sell than they did during the frenzied years of 2021 through 2023. That is a good thing for buyers, who finally have real choices, and it remains a good thing for well-priced sellers, who are still seeing timely results.
The figures below are compiled from the Central Virginia Multiple Listing Service (CVR MLS), the Real Estate Information Network (REIN) for Hampton Roads, the Federal Reserve Bank of St. Louis (FRED), the Richmond Association of REALTORS, and trusted research sources including Redfin Housing Market Data, the Zillow Home Value Index, and county-level market reports. I have also folded in the latest mortgage rate readings, because financing costs matter just as much as home prices when you are planning a move. Every statistic reflects the most current available data as of mid-September 2026. Let me walk you through what the numbers mean for each community.
Greater Richmond Metro: Steady Prices, Growing Inventory, a More Even Playing Field
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. The metro-wide median home price sits around $415,000 in the most recent reporting, up roughly 2.4 percent year-over-year per CVR MLS data, with single-family medians trending closer to $425,000 in some windows. Median days on market for the Richmond metro came in around 37 days in the June data from FRED, while county-level reports show many communities averaging closer to three weeks.
Active inventory is where the story stays most encouraging. Listings across the metro reached roughly 3,200 active homes in July, up about 18 percent year-over-year, which translates to roughly 2.1 months of supply. That is a meaningful shift from the sub-two-month conditions that defined much of the early 2020s. Buyers finally have real choices, and sellers who price realistically are still seeing timely results. This is what a healthier housing market looks like.
One new detail worth flagging this month: mortgage rates have crept back toward the high end of their recent range. The national 30-year fixed average is hovering around 6.9 to 7.0 percent in mid-September, with the Freddie Mac weekly average near 6.76 percent. It is a modest shift, not a dramatic one, but it is a reminder that locking a rate and getting pre-approved sooner rather than later can save buyers meaningful money over the life of a loan.
The Mid-September Snapshot at a Glance
Every community has its own market personality. Here is the freshest researched data I have for each area I serve, with the most current complete numbers available.
| Community | Median Price (Latest Data) | Days on Market | Inventory Snapshot |
|---|---|---|---|
| Richmond City | ~$385,000 to $402,500 | 37 to 39 days | ~1,200 active listings |
| Henrico County | ~$421,500, up 4.9% YoY | ~18 days | ~1.9 months of supply |
| Chesterfield County | ~$409,900 to $412,000 | ~19 to 21 days | Widest selection in the metro, ~2.4 months of supply |
| Hanover County | ~$448,000, up 5.1% YoY | ~22 days | Larger lots, top-rated schools, steady demand |
| New Kent County | 3-month median ~$354,000; Zillow average ~$433,000 | ~36 days to pending | Virginia's fastest-growing county; new listings up strongly YoY |
| Hampton Roads Region | ~$389,900 July median, up 5.9% YoY | ~23 days | ~6,100 active listings, up ~7.6% YoY |
| Newport News | ~$324,500, up 6.4% YoY | ~28 days | Affordable Peninsula entry near JBLE-Langley-Eustis |
| Virginia Beach | Detached-home median ~$480,000 | ~9 to 15 days | Fastest-moving market in the region |
Figures vary modestly by source and reporting window. Medians and days on market reflect the most recent complete data available as of mid-September 2026, drawn from CVR MLS, REIN, FRED, the Richmond Association of REALTORS, Redfin, and Zillow. See the notes at the end of this post for the full list of sources.
Community by Community: What the Numbers Feel Like on the Ground
Richmond City
Richmond City continues to draw a diverse mix of buyers, from young professionals and downsizers to investors and families drawn to walkability and downtown energy. City-level medians have ranged from roughly $385,000 to $402,500 in recent monthly data, up modestly year-over-year, with homes taking about 37 to 39 days to sell and 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 locations near the James River and the Virginia Capital Trail often attract multiple offers in the first week. For military families, Richmond City offers a vibrant urban lifestyle with a reasonable drive to most regional bases, including Fort Gregg-Adams and Joint Base Langley-Eustis.
Henrico County
Henrico remains one of the most active and sought-after markets in the region. The latest county reports show a median sale price around $421,500, up about 4.9 percent year-over-year, with homes averaging about 18 days on market and roughly 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, while other corners of the county offer far more accessible entry points. The Varina district in the east still offers some of the county's best value, with spacious lots, quiet streets, and mature trees minutes from downtown Richmond. Henrico is a great example of the region's new balance: inventory is up, but well-priced homes in the right locations still move quickly.
Chesterfield County
Chesterfield continues to offer the widest selection of inventory in the metro, which makes it a prime destination for buyers who want to compare options. The median sale price is approximately $409,900 to $412,000, with homes averaging about 19 to 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, and to 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. 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 many listings in the $320,000 to $400,000 range, making Hanover a great fit for buyers who want top schools without sacrificing value.
New Kent County
New Kent is one of the most exciting stories in the region right now. It has become Virginia's fastest-growing county, with population up about 21.5 percent since 2020, and the market data reflects that momentum. New listings jumped about 36 percent year-over-year in the most recent county-level reporting, and sales have edged upward as well. Median pricing varies by source and window: Redfin's three-month median came in near $354,000 with an average sale price closer to $495,000, while Zillow's average home value sits around $433,000, up about 3.6 percent year-over-year. Homes typically go pending in about 36 days, partly because the inventory mix includes custom builds and estate lots that naturally take longer. New construction remains a major story here, with active communities still drawing military families assigned to the Peninsula bases, remote workers, and families seeking acreage. If you want space, newer homes, and room to breathe, 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, along with the cities of Hopewell and Petersburg, provides 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 the 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.
Hampton Roads: Record Prices, Rising Inventory, and More Choices for Buyers
The Hampton Roads region, including Newport News, Hampton, Williamsburg, James City County, and the Southside cities, continues to show healthy, sustainable conditions. The Real Estate Information Network reported a July 2026 median sale price of approximately $389,900, up about 5.9 percent year-over-year from $368,250 a year earlier. That is a slight easing from June's record $395,000, but prices are still climbing. The region-wide median days on market reached about 23 days in July, up from 19 in June, and active inventory grew to roughly 6,097 listings, up about 7.6 percent year-over-year.
That growing supply, combined with steady demand from the region's military bases, creates the most balanced conditions buyers have seen in years. Days on market ticking upward and inventory expanding are both signs of a cooling, more even market, which is welcome news for anyone who felt squeezed over the past few years. Pending and settled sales remain healthy, a sign the market is active even as it normalizes.
Newport News and the Peninsula
Newport News remains one of the most accessible markets in the region, with a July median sale price of approximately $324,500, up about 6.4 percent year-over-year, and homes typically selling in about 28 days. 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. The Peninsula continues to offer some of the best affordability-to-commute ratios in my service area, with Williamsburg a step up in price at a Q2 median near $485,500, up about 7 percent year-over-year, for buyers who want the Historic Triangle lifestyle.
Virginia Beach, Norfolk and the Southside
On the Southside, the detached-home median in Virginia Beach runs around $480,000, with homes there selling in about 9 to 15 days on average, the fastest-moving market in the region. For families assigned to Naval Station Norfolk, JEB Little Creek, or NAS Oceana, the Southside cities offer the most convenient commutes without crossing the bridge-tunnels, and they remain some of the most sought-after locations in all of Hampton Roads.
Five Notable Shifts in the Latest Data
1. Inventory Growth Is Giving Buyers Real Choices
The single biggest theme of 2026 is still the expansion of active listings. Richmond metro inventory reached roughly 3,200 homes in July, up about 18 percent year-over-year, Chesterfield offers the widest selection in the region, and Hampton Roads is holding near 6,100 active listings, up about 7.6 percent. Buyers who have felt limited by slim choices are finding real relief, and this mid-September window is shaping up to be one of the best times of the year to shop.
2. Price Growth Is Steady, and a Little Different by Region
Central Virginia has settled into a sustainable single-digit groove, with the metro median up about 2.4 percent year-over-year, while Hampton Roads is still climbing more quickly, with a July median up about 5.9 percent. 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 market on average, county-level reports cluster around 18 to 22 days, and Hampton Roads averaged about 23 days in July. 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. New Kent Is Emerging as the Region's Growth Story
New Kent is now Virginia's fastest-growing county, and the housing data confirms it: new listings up about 36 percent year-over-year, a healthy pipeline of new construction, and strong demand from military families assigned to the Peninsula bases. The median has softened in some monthly windows as the mix of listings shifts, but average sale prices keep climbing, a sign that the county's long-term value story remains intact.
5. Mortgage Rates Are a Reminder to Plan Ahead
With the 30-year fixed average hovering near 6.9 to 7.0 percent in mid-September, financing costs remain the biggest variable in your buying power. The good news is that inventory is up, which gives buyers more negotiating room, and VA loans remain one of the most powerful tools available to military families, with zero down payment, no private mortgage insurance, and competitive rates. Locking a rate and getting pre-approved now can save you real money over the life of a loan.
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 townhomes in Chesterfield will have a very different experience from a military family with fall PCS orders searching near Fort Gregg-Adams, or a longtime 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 the Central Virginia Multiple Listing Service (CVR MLS), the Real Estate Information Network (REIN) for Hampton Roads, the Federal Reserve Bank of St. Louis (FRED, series MEDDAYONMAR40060), the Richmond Association of REALTORS, Redfin Housing Market Data, the Zillow Home Value Index, and county-level real estate 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 (July 2026 for Hampton Roads, first-half 2026 for the Richmond metro, and current September 2026 mortgage rate readings) as of mid-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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