Market dynamics its being reported that as of May 2026
- The market is “normalized” rather than frenzied, with slightly more inventory and reduced bidding wars compared to recent years
- Price Growth: While rising, price appreciation is slowing to a more sustainable, “normal” pace (about 3-4% year-over-year in Metro Richmond).
- Seller Focus: While still a seller’s market, price point and property condition are becoming increasingly important due to improved, though still limited, inventory
- Septic Regulations: New, stricter septic system inspection requirements for residential properties took effect as of July 1, 2025.