ZIP 23047 Housing Market Report
Richmond Metro
Report period: May 2026
23047 Monthly Market Update – May 2026
ZIP 23047 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$550,000
−15.4%
Median DOM (Sales)
53
+23.3%
New Listings (Sales)
0
−100.0%
Median Rent
$1,700
0.0%
Median DOM (Rental)
14
0.0%
Total Rental Listings
2
0.0%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents were stable.
What's Moving Fastest
- Fastest selling: Single Family (53 DOM)
- Fastest renting: Single Family (14 DOM)
- Strongest bedroom: 5 Beds ($1,149,950 median)
Sales Market Overview
Median Price
$550,000
−15.4%
Median DOM
53
+23.3%
New Listings
0
−100.0%
Inventory
12
+9.1%
- Average Price: $614,012
- Median Price: $550,000
- Price Range: $210,000 – $1,149,950
- Price per Sq Ft (Avg/Median): $243 / $221
- Square Footage (Avg/Median): 2,615 / 2,136
- Square Footage Range: 1,056 – 5,200
- Days on Market (Avg/Median): 84 / 53
- Days on Market Range: 8 – 300
- New Listings: 0
- Total Listings: 12
Sales by Property Type
Manufactured
Avg/Median Price$490,550 / $490,550Range$490,550 – $490,550Price per Sq Ft$203 / $203Sq Ft2,420 / 2,420DOM66 / 66New0Total1
Single Family
Avg/Median Price$625,236 / $649,950Range$210,000 – $1,149,950Price per Sq Ft$246 / $224Sq Ft2,633 / 2,136DOM86 / 53New0Total11
Sales by Bedroom Count
2 Beds
Avg:$550,000Median:$550,000Range:$550,000 – $550,000PSF:$199 / $199Sq Ft:2,765 / 2,765DOM:8 / 8New:0Total:1
3 Beds
Avg:$472,750Median:$478,900Range:$210,000 – $724,950PSF:$259 / $224Sq Ft:1,803 / 1,915DOM:67 / 24New:0Total:5
4 Beds
Avg:$660,890Median:$649,950Range:$299,000 – $949,950PSF:$239 / $232Sq Ft:2,880 / 2,420DOM:99 / 53New:0Total:5
5 Beds
Avg:$1,149,950Median:$1,149,950Range:$1,149,950 – $1,149,950PSF:$221 / $221Sq Ft:5,200 / 5,200DOM:151 / 151New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $550,000 | $550,000 | $550,000 – $550,000 | $199 / $199 | 2,765 / 2,765 | 8 / 8 | 0 | 1 |
| 3 Beds | $472,750 | $478,900 | $210,000 – $724,950 | $259 / $224 | 1,803 / 1,915 | 67 / 24 | 0 | 5 |
| 4 Beds | $660,890 | $649,950 | $299,000 – $949,950 | $239 / $232 | 2,880 / 2,420 | 99 / 53 | 0 | 5 |
| 5 Beds | $1,149,950 | $1,149,950 | $1,149,950 – $1,149,950 | $221 / $221 | 5,200 / 5,200 | 151 / 151 | 0 | 1 |
Rental Market Overview
Median Rent
$1,700
0.0%
Median DOM
14
0.0%
New Listings
0
Inventory
2
0.0%
- Average Rent: $1,700
- Median Rent: $1,700
- Rent Range: $1,700 – $1,700
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,512 / 1,512
- Square Footage Range: 1,512 – 1,512
- Days on Market (Avg/Median): 18 / 14
- Days on Market Range: 14 – 21
- New Listings: 0
- Total Listings: 2
Rentals by Property Type
Apartment
—
Median DOM: —
Inventory: —
MoM: 0.0%
Condo
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
$1,700
Median DOM: 14
Inventory: 2
MoM: 0.0%
Townhouse
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
Avg/Median Rent$1,700 / $1,700Range$1,700 – $1,700Rent per Sq Ft$1 / $1Sq Ft1,512 / 1,512DOM18 / 14New0Total2
Rentals by Bedroom Count
3 Beds
Avg:$1,700Median:$1,700Range:$1,700 – $1,700PSF:$1 / $1Sq Ft:1,512 / 1,512DOM:18 / 14New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 3 Beds | $1,700 | $1,700 | $1,700 – $1,700 | $1 / $1 | 1,512 / 1,512 | 18 / 14 | 0 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$425,000Median DOM:34New:4Total:12
Jan 2026
Median Price:$478,900Median DOM:52New:1Total:9
Feb 2026
Median Price:$479,000Median DOM:53New:0Total:5
Mar 2026
Median Price:$719,900Median DOM:26New:4Total:9
Apr 2026
Median Price:$649,950Median DOM:43New:2Total:11
May 2026
Median Price:$550,000Median DOM:53New:0Total:12
6-Month Rental Trend
Mar 2026
Median Rent:$1,700Median DOM:14New:2Total:2
Apr 2026
Median Rent:$1,700Median DOM:14New:0Total:2
May 2026
Median Rent:$1,700Median DOM:14New:0Total:2
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing remained stable, while total rental inventory was flat.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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