ZIP 23111 Housing Market Report
Richmond Metro
Report period: August 2026
23111 Monthly Market Update – August 2026
ZIP 23111 · Last updated Aug 9, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$460,000
+0.0%
Median DOM (Sales)
24
+14.3%
New Listings (Sales)
11
−81.4%
Median Rent
$2,200
0.0%
Median DOM (Rental)
15
0.0%
Total Rental Listings
31
+3.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (21 DOM)
- Fastest renting: Single Family (13 DOM)
- Strongest bedroom: 5 Beds ($589,950 median)
Sales Market Overview
Median Price
$460,000
+0.0%
Median DOM
24
+14.3%
New Listings
11
−81.4%
Inventory
177
−2.2%
- Average Price: $499,729
- Median Price: $460,000
- Price Range: $250,000 – $1,700,000
- Price per Sq Ft (Avg/Median): $235 / $229
- Square Footage (Avg/Median): 2,154 / 1,987
- Square Footage Range: 978 – 5,382
- Days on Market (Avg/Median): 47 / 24
- Days on Market Range: 2 – 317
- New Listings: 11
- Total Listings: 177
Sales by Property Type
Condo
Avg/Median Price$468,442 / $465,740Range$459,990 – $475,740Price per Sq Ft$210 / $205Sq Ft2,242 / 2,313DOM45 / 24New0Total5
Land
Avg/Median Price$860,000 / $629,999Range$250,000 – $1,700,000Price per Sq Ft—Sq Ft—DOM186 / 162New0Total3
Single Family
Avg/Median Price$503,733 / $459,950Range$259,950 – $1,299,900Price per Sq Ft$238 / $235Sq Ft2,186 / 1,964DOM41 / 21New11Total144
Townhouse
Avg/Median Price$439,694 / $459,990Range$300,000 – $629,999Price per Sq Ft$227 / $226Sq Ft1,952 / 1,988DOM60 / 27New0Total25
Sales by Bedroom Count
2 Beds
Avg:$449,285Median:$440,900Range:$350,000 – $519,900PSF:$290 / $287Sq Ft:1,554 / 1,692DOM:124 / 75New:1Total:6
3 Beds
Avg:$425,420Median:$399,950Range:$259,950 – $869,000PSF:$241 / $239Sq Ft:1,810 / 1,731DOM:32 / 19New:4Total:95
4 Beds
Avg:$561,139Median:$499,900Range:$329,900 – $1,299,900PSF:$229 / $219Sq Ft:2,467 / 2,418DOM:58 / 28New:6Total:55
5 Beds
Avg:$661,047Median:$589,950Range:$434,399 – $1,120,000PSF:$209 / $210Sq Ft:3,218 / 3,175DOM:41 / 25New:0Total:18
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $449,285 | $440,900 | $350,000 – $519,900 | $290 / $287 | 1,554 / 1,692 | 124 / 75 | 1 | 6 |
| 3 Beds | $425,420 | $399,950 | $259,950 – $869,000 | $241 / $239 | 1,810 / 1,731 | 32 / 19 | 4 | 95 |
| 4 Beds | $561,139 | $499,900 | $329,900 – $1,299,900 | $229 / $219 | 2,467 / 2,418 | 58 / 28 | 6 | 55 |
| 5 Beds | $661,047 | $589,950 | $434,399 – $1,120,000 | $209 / $210 | 3,218 / 3,175 | 41 / 25 | 0 | 18 |
Rental Market Overview
Median Rent
$2,200
0.0%
Median DOM
15
0.0%
New Listings
5
Inventory
31
+3.3%
- Average Rent: $2,144
- Median Rent: $2,200
- Rent Range: $1,395 – $2,795
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,456 / 1,404
- Square Footage Range: 720 – 2,432
- Days on Market (Avg/Median): 35 / 15
- Days on Market Range: 1 – 364
- New Listings: 5
- Total Listings: 31
Rentals by Property Type
Apartment
$1,423
Median DOM: 75
Inventory: 4
MoM: 0.0%
Condo
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
$2,200
Median DOM: 13
Inventory: 24
MoM: 0.0%
Townhouse
$2,495
Median DOM: 32
Inventory: 3
MoM: 0.0%
Apartment
Avg/Median Rent$1,499 / $1,423Range$1,395 – $1,599Rent per Sq Ft$2 / $2Sq Ft848 / 815DOM220 / 75New0Total4
Single Family
Avg/Median Rent$2,200 / $2,200Range$1,600 – $2,600Rent per Sq Ft$2 / $2Sq Ft1,517 / 1,404DOM20 / 13New4Total24
Townhouse
Avg/Median Rent$2,555 / $2,495Range$2,375 – $2,795Rent per Sq Ft$1 / $2Sq Ft1,773 / 1,584DOM27 / 32New1Total3
Rentals by Bedroom Count
Studio
Avg:$1,600Median:$1,600Range:$1,600 – $1,600PSF:$2 / $2Sq Ft:783 / 783DOM:83 / 83New:0Total:1
1 Beds
Avg:$1,579Median:$1,579Range:$1,579 – $1,579PSF:$2 / $2Sq Ft:720 / 720DOM:364 / 364New:0Total:1
2 Beds
Avg:$1,472Median:$1,423Range:$1,395 – $1,599PSF:$2 / $2Sq Ft:890 / 855DOM:75 / 75New:0Total:3
3 Beds
Avg:$2,202Median:$2,200Range:$1,795 – $2,600PSF:$2 / $2Sq Ft:1,514 / 1,404DOM:13 / 13New:4Total:21
4 Beds
Avg:$2,526Median:$2,495Range:$2,350 – $2,795PSF:$1 / $1Sq Ft:1,831 / 2,000DOM:41 / 46New:1Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,600 | $1,600 | $1,600 – $1,600 | $2 / $2 | 783 / 783 | 83 / 83 | 0 | 1 |
| 1 Beds | $1,579 | $1,579 | $1,579 – $1,579 | $2 / $2 | 720 / 720 | 364 / 364 | 0 | 1 |
| 2 Beds | $1,472 | $1,423 | $1,395 – $1,599 | $2 / $2 | 890 / 855 | 75 / 75 | 0 | 3 |
| 3 Beds | $2,202 | $2,200 | $1,795 – $2,600 | $2 / $2 | 1,514 / 1,404 | 13 / 13 | 4 | 21 |
| 4 Beds | $2,526 | $2,495 | $2,350 – $2,795 | $1 / $1 | 1,831 / 2,000 | 41 / 46 | 1 | 5 |
6-Month Sales Trend
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:17New:64Total:203
Jun 2026
Median Price:$459,990Median DOM:22New:49Total:185
Jul 2026
Median Price:$459,990Median DOM:21New:59Total:181
Aug 2026
Median Price:$460,000Median DOM:24New:11Total:177
6-Month Rental Trend
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:13Total:30
Jun 2026
Median Rent:$2,200Median DOM:16New:11Total:30
Jul 2026
Median Rent:$2,200Median DOM:15New:11Total:30
Aug 2026
Median Rent:$2,200Median DOM:15New:5Total:31
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market lengthened, signaling slower buyer activity. Rental pricing remained stable, while total rental inventory increased.
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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