ZIP 23111 Housing Market Report
Richmond Metro
Report period: May 2026
23111 Monthly Market Update – May 2026
ZIP 23111 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$459,990
−0.2%
Median DOM (Sales)
18
0.0%
New Listings (Sales)
13
−81.7%
Median Rent
$2,200
0.0%
Median DOM (Rental)
12
−14.3%
Total Rental Listings
28
−3.4%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (13 DOM)
- Fastest renting: Single Family (11 DOM)
- Strongest bedroom: 5 Beds ($749,950 median)
Sales Market Overview
Median Price
$459,990
−0.2%
Median DOM
18
0.0%
New Listings
13
−81.7%
Inventory
195
−2.5%
- Average Price: $524,989
- Median Price: $459,990
- Price Range: $120,000 – $1,700,000
- Price per Sq Ft (Avg/Median): $237 / $234
- Square Footage (Avg/Median): 2,245 / 1,990
- Square Footage Range: 850 – 5,477
- Days on Market (Avg/Median): 38 / 18
- Days on Market Range: 1 – 360
- New Listings: 13
- Total Listings: 195
Sales by Property Type
Condo
Avg/Median Price$454,990 / $454,990Range$454,990 – $454,990Price per Sq Ft$211 / $211Sq Ft2,152 / 2,152DOM93 / 93New0Total1
Land
Avg/Median Price$596,182 / $250,000Range$120,000 – $1,700,000Price per Sq Ft—Sq Ft—DOM121 / 118New0Total11
Single Family
Avg/Median Price$534,136 / $463,950Range$229,900 – $1,299,900Price per Sq Ft$238 / $233Sq Ft2,307 / 2,057DOM31 / 13New11Total157
Townhouse
Avg/Median Price$442,329 / $449,990Range$319,950 – $789,999Price per Sq Ft$236 / $237Sq Ft1,874 / 1,848DOM50 / 40New2Total26
Sales by Bedroom Count
2 Beds
Avg:$403,728Median:$415,000Range:$269,000 – $519,900PSF:$282 / $275Sq Ft:1,451 / 1,536DOM:60 / 32New:0Total:12
3 Beds
Avg:$441,377Median:$415,000Range:$229,900 – $987,000PSF:$244 / $240Sq Ft:1,831 / 1,834DOM:27 / 13New:7Total:89
4 Beds
Avg:$583,723Median:$499,900Range:$349,950 – $1,299,900PSF:$228 / $220Sq Ft:2,567 / 2,460DOM:37 / 14New:5Total:64
5 Beds
Avg:$754,175Median:$749,950Range:$435,000 – $1,200,000PSF:$210 / $216Sq Ft:3,601 / 3,286DOM:39 / 28New:1Total:19
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $403,728 | $415,000 | $269,000 – $519,900 | $282 / $275 | 1,451 / 1,536 | 60 / 32 | 0 | 12 |
| 3 Beds | $441,377 | $415,000 | $229,900 – $987,000 | $244 / $240 | 1,831 / 1,834 | 27 / 13 | 7 | 89 |
| 4 Beds | $583,723 | $499,900 | $349,950 – $1,299,900 | $228 / $220 | 2,567 / 2,460 | 37 / 14 | 5 | 64 |
| 5 Beds | $754,175 | $749,950 | $435,000 – $1,200,000 | $210 / $216 | 3,601 / 3,286 | 39 / 28 | 1 | 19 |
Rental Market Overview
Median Rent
$2,200
0.0%
Median DOM
12
−14.3%
New Listings
6
Inventory
28
−3.4%
- Average Rent: $2,205
- Median Rent: $2,200
- Rent Range: $1,450 – $2,795
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,466 / 1,518
- Square Footage Range: 783 – 2,192
- Days on Market (Avg/Median): 39 / 12
- Days on Market Range: 1 – 274
- New Listings: 6
- Total Listings: 28
Rentals by Property Type
Apartment
$1,599
Median DOM: 274
Inventory: 3
MoM: 0.0%
Condo
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
$2,300
Median DOM: 11
Inventory: 19
MoM: 0.0%
Townhouse
$2,250
Median DOM: 15
Inventory: 6
MoM: 0.0%
Apartment
Avg/Median Rent$1,638 / $1,599Range$1,495 – $1,819Rent per Sq Ft$2 / $2Sq Ft871 / 815DOM274 / 274New0Total3
Single Family
Avg/Median Rent$2,284 / $2,300Range$1,800 – $2,750Rent per Sq Ft$2 / $2Sq Ft1,503 / 1,456DOM28 / 11New6Total19
Townhouse
Avg/Median Rent$2,241 / $2,250Range$1,450 – $2,795Rent per Sq Ft$1 / $1Sq Ft1,696 / 1,576DOM31 / 15New0Total6
Rentals by Bedroom Count
Studio
Avg:$1,800Median:$1,800Range:$1,800 – $1,800PSF:$2 / $2Sq Ft:783 / 783DOM:40 / 40New:0Total:1
1 Beds
Avg:$1,819Median:$1,819Range:$1,819 – $1,819PSF:$2 / $2Sq Ft:797 / 797DOM:274 / 274New:0Total:1
2 Beds
Avg:$1,515Median:$1,495Range:$1,450 – $1,599PSF:$2 / $2Sq Ft:908 / 815DOM:72 / 72New:0Total:3
3 Beds
Avg:$2,259Median:$2,200Range:$1,900 – $2,595PSF:$2 / $2Sq Ft:1,491 / 1,518DOM:16 / 11New:5Total:18
4 Beds
Avg:$2,587Median:$2,595Range:$2,395 – $2,795PSF:$1 / $1Sq Ft:1,878 / 2,035DOM:60 / 14New:1Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,800 | $1,800 | $1,800 – $1,800 | $2 / $2 | 783 / 783 | 40 / 40 | 0 | 1 |
| 1 Beds | $1,819 | $1,819 | $1,819 – $1,819 | $2 / $2 | 797 / 797 | 274 / 274 | 0 | 1 |
| 2 Beds | $1,515 | $1,495 | $1,450 – $1,599 | $2 / $2 | 908 / 815 | 72 / 72 | 0 | 3 |
| 3 Beds | $2,259 | $2,200 | $1,900 – $2,595 | $2 / $2 | 1,491 / 1,518 | 16 / 11 | 5 | 18 |
| 4 Beds | $2,587 | $2,595 | $2,395 – $2,795 | $1 / $1 | 1,878 / 2,035 | 60 / 14 | 1 | 5 |
6-Month Sales Trend
Dec 2025
Median Price:$454,990Median DOM:49New:24Total:140
Jan 2026
Median Price:$454,990Median DOM:43New:47Total:136
Feb 2026
Median Price:$454,500Median DOM:24New:47Total:148
Mar 2026
Median Price:$454,990Median DOM:20New:66Total:174
Apr 2026
Median Price:$460,740Median DOM:18New:71Total:200
May 2026
Median Price:$459,990Median DOM:18New:13Total:195
6-Month Rental Trend
Dec 2025
Median Rent:$2,100Median DOM:13New:10Total:22
Jan 2026
Median Rent:$1,999Median DOM:11New:12Total:28
Feb 2026
Median Rent:$2,200Median DOM:11New:11Total:26
Mar 2026
Median Rent:$2,200Median DOM:14New:14Total:28
Apr 2026
Median Rent:$2,200Median DOM:14New:8Total:29
May 2026
Median Rent:$2,200Median DOM:12New:6Total:28
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market were unchanged, signaling steady buyer activity. Rental pricing remained stable, while total rental inventory tightened.
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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