Every month I get a handful of questions that repeat, almost word for word, from buyers and sellers across Richmond. If you're wondering about the market right now, chances are one of these is your question too.“Is it still a seller's market?”
It depends entirely on price point and neighborhood, not the city as a whole. Certain price bands and areas still see multiple offers. Others have enough inventory that buyers have real leverage. Ask about your specific situation before assuming which side of the table you're on.“Should I wait for rates to drop before I buy?”
Waiting on rates means competing with everyone else who's also waiting on rates. If a home works for your budget and life right now, the loan terms are something you can revisit later through refinancing. The home itself, you can't always revisit.“How long will my home sit on the market?”
That's a direct function of price, condition, and location — in that order. A well-priced, well-presented home in a desirable area still moves quickly. Overpriced homes sit regardless of how good the market is. Days on market is usually a pricing story, not a market story.“Is now a good time to sell?”
The better question is whether now is a good time for your situation — your equity, your next move, your timeline. Market conditions matter, but they're one input, not the whole answer.The Bottom Line
Most of what buyers and sellers worry about comes down to the same handful of questions. If you're sitting on one of these right now, you're not behind — you're asking the right thing. Let's talk through where you actually stand.