Buyers currently have more choice in Richmond's multi-family market, with homes taking longer to sell. In the past 30 days, 1 multi-family properties sold across Richmond at an average sold price of $1,906,666. Multi-family properties are selling in an average of 29 days on the market. The absorption rate is 3.4% — meaning 3.4% of active multi-family inventory sells each month. Average multi-family prices in Richmond are up 28% compared to the 90-day average of $1,489,047. If you're considering buying a multi-family property in Richmond, you have more time to negotiate — though well-priced homes still attract attention.
