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Richlands Housing Market Report June 2025•Tazewell County, Virginia

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Housing Prices in Richlands, VA

How much do homes in Richlands, VA cost?

Housing Market Conditions

Is Richlands, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Richlands is a Seller's Market

Difference Since June 2024

Since last year, Richlands has remained a Seller's Market.

Insight

Richlands is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$120,000$79/SqFt
-$19,950
-14.3%

Based on all homes sold in the last 12 months

Insight

Homes in Richlands have sold for 14.3% less than they did a year ago.

Summary: The median home sold price in Richlands was $120,000 in June 2025, down 14.3% from last year, and the median price per square foot was $79.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Richlands
-14.3%
Northwestern
-20.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJun 2024Jun 2025Change YoY
1$42K-
N/A
2$70K$66.3K
-5.2%
3$110K$117.5K
+6.8%
4$241K$240K
-0.4%
5$700K$375K
-46.4%

Summary: Richlands housing price by bedroom type for June 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -5.2%. The home price for 3 bedroom homes increased by +6.8%. The home price for 4 bedroom homes decreased by -0.4%. The home price for 5 bedroom homes decreased by -46.4%.

How does Richlands, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Richlands, VA

Housing supply in Richlands, VA

How many homes are available in Richlands, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
10Last MonthJun 2025
62 months agoMay 2025
+66.7 %
Change MoMMay – Jun

Summary: The Richlands real estate market had 10 homes for sale in Jun 2025, a 66.7 % increase compared to May 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
5Last MonthJun 2025
12 months agoMay 2025
+400.0 %
Change MoMMay – Jun

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMay 2025Jun 2025Change MoM
100
0.0%
202
+100.0%
366
0.0%
402
+100.0%
500
0.0%

Summary: Richlands housing inventory by bedroom type for June 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Richlands, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price4 Homes

Insight

If you're buying a home in Richlands, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Richlands in June 2025, up by 400.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and and 20% were sold over asking.

Days on Market for Richlands, VA

How long does it take to sell a home in Richlands, VA?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days3 Homes

Insight

Most homes in Richlands are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During June 2025, 5 homes were sold in Richlands; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
133 DaysThis YearJun 2025
106 Days1 year agoJun 2024
+25.3 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in Richlands had an average listing age of 133 days in Jun 2025, up by 25.3% compared to the previous year.

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Newest Listings in Richlands, VA

What homes are available in Richlands, VA?

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Nearby markets

Nearby markets aren't available for Richlands, VA

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Southwest Virginia Association of REALTORS® MLS, for the period 07/01/2023 - 07/01/2025

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the SW VA Association of REALTORS® Multiple Listing Service. The SWVAR IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information herein is deemed reliable but not guaranteed, representations are approximate, individual verifications are recommended. Copyright 2025 Southwest Virginia Association of REALTORS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/23/2025, 6:45:36 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.