Henrico, VA Housing Market Report

The Henrico, Virginia real estate market is currently transitioning into a more balanced environment as of December 2025. While the region has historically leaned heavily in favor of sellers, a notable 6.95% year-over-year increase in active inventory—bringing the total to 2,493 listings—is providing buyers with more options than they have seen in recent years. The median home value stands at $395,544, representing a modest annual appreciation of 1.39%. This cooling of price growth, combined with homes staying on the market for an average of 44 days (an 8-day increase from last year), suggests that the frantic bidding wars of the past are being replaced by a more measured pace of trade.

Price trends over the last six months show a consistent but incremental upward trajectory, rising from $391,786 in July to the current December peak. This steady climb indicates that demand remains resilient despite higher inventory levels. The sale-to-list ratio currently sits at exactly 1, meaning that on average, homes are selling for their asking price. This is a critical indicator for both parties; it suggests that while sellers can no longer expect significant premiums over their asking price, they are still successfully capturing their full valuation without the need for deep discounting.

Looking ahead, the Henrico market appears stable, making it an attractive destination for long-term investment within the Richmond metro area. For sellers, the increase in days on market means that proper staging and realistic initial pricing are more important than ever to avoid stagnation. For buyers, the current climate offers a rare window of opportunity to negotiate on repairs or closing costs—concessions that were nearly impossible to obtain a year ago. As rent prices continue to climb at a rate of 1.57% annually, reaching a median of $1,641, the transition from renting to homeownership remains a financially sound strategy for those looking to lock in their housing costs.