ZIP 23116 Housing Market Report
Richmond Metro
Report period: May 2026
23116 Monthly Market Update – May 2026
ZIP 23116 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$525,000
0.0%
Median DOM (Sales)
9
0.0%
New Listings (Sales)
19
−69.4%
Median Rent
$2,600
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
21
+23.5%
Month-over-Month Movement
Median sale prices were flat. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (9 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 6 Beds ($749,950 median)
Sales Market Overview
Median Price
$525,000
0.0%
Median DOM
9
0.0%
New Listings
19
−69.4%
Inventory
159
+13.6%
- Average Price: $559,672
- Median Price: $525,000
- Price Range: $109,950 – $2,295,000
- Price per Sq Ft (Avg/Median): $233 / $232
- Square Footage (Avg/Median): 2,526 / 2,390
- Square Footage Range: 960 – 7,980
- Days on Market (Avg/Median): 39 / 9
- Days on Market Range: 2 – 357
- New Listings: 19
- Total Listings: 159
Sales by Property Type
Condo
Avg/Median Price$426,267 / $422,900Range$370,000 – $474,516Price per Sq Ft$270 / $264Sq Ft1,599 / 1,609DOM112 / 70New0Total9
Land
Avg/Median Price$368,790 / $219,999Range$109,950 – $920,000Price per Sq Ft—Sq Ft—DOM69 / 66New1Total5
Single Family
Avg/Median Price$590,584 / $575,000Range$299,950 – $2,295,000Price per Sq Ft$228 / $222Sq Ft2,690 / 2,507DOM29 / 9New16Total126
Townhouse
Avg/Median Price$468,106 / $439,000Range$354,950 – $645,593Price per Sq Ft$250 / $246Sq Ft1,878 / 1,868DOM66 / 13New2Total19
Sales by Bedroom Count
2 Beds
Avg:$485,686Median:$434,900Range:$370,000 – $749,950PSF:$271 / $268Sq Ft:1,848 / 1,617DOM:114 / 46New:0Total:10
3 Beds
Avg:$470,204Median:$429,000Range:$299,950 – $1,100,000PSF:$251 / $248Sq Ft:1,929 / 1,782DOM:39 / 9New:6Total:61
4 Beds
Avg:$583,507Median:$589,990Range:$400,000 – $966,000PSF:$223 / $218Sq Ft:2,642 / 2,548DOM:40 / 9New:9Total:54
5 Beds
Avg:$770,890Median:$650,000Range:$415,000 – $2,295,000PSF:$206 / $207Sq Ft:3,684 / 3,214DOM:11 / 6New:3Total:24
6 Beds
Avg:$718,780Median:$749,950Range:$575,000 – $849,950PSF:$168 / $158Sq Ft:4,350 / 4,830DOM:3 / 3New:0Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $485,686 | $434,900 | $370,000 – $749,950 | $271 / $268 | 1,848 / 1,617 | 114 / 46 | 0 | 10 |
| 3 Beds | $470,204 | $429,000 | $299,950 – $1,100,000 | $251 / $248 | 1,929 / 1,782 | 39 / 9 | 6 | 61 |
| 4 Beds | $583,507 | $589,990 | $400,000 – $966,000 | $223 / $218 | 2,642 / 2,548 | 40 / 9 | 9 | 54 |
| 5 Beds | $770,890 | $650,000 | $415,000 – $2,295,000 | $206 / $207 | 3,684 / 3,214 | 11 / 6 | 3 | 24 |
| 6 Beds | $718,780 | $749,950 | $575,000 – $849,950 | $168 / $158 | 4,350 / 4,830 | 3 / 3 | 0 | 5 |
Rental Market Overview
Median Rent
$2,600
0.0%
Median DOM
1
0.0%
New Listings
5
Inventory
21
+23.5%
- Average Rent: $2,603
- Median Rent: $2,600
- Rent Range: $1,575 – $3,750
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,921 / 1,848
- Square Footage Range: 877 – 3,108
- Days on Market (Avg/Median): 11 / 1
- Days on Market Range: 1 – 76
- New Listings: 5
- Total Listings: 21
Rentals by Property Type
Apartment
$1,575
Median DOM: —
Inventory: 1
MoM: 0.0%
Condo
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
$2,695
Median DOM: 1
Inventory: 14
MoM: 0.0%
Townhouse
$2,600
Median DOM: 13
Inventory: 6
MoM: 0.0%
Apartment
Avg/Median Rent$1,575 / $1,575Range$1,575 – $1,575Rent per Sq Ft$2 / $2Sq Ft877 / 877DOM—New0Total1
Single Family
Avg/Median Rent$2,695 / $2,695Range$1,895 – $3,750Rent per Sq Ft$1 / $1Sq Ft2,038 / 2,046DOM9 / 1New4Total14
Townhouse
Avg/Median Rent$2,561 / $2,600Range$2,370 – $2,795Rent per Sq Ft$1 / $1Sq Ft1,842 / 1,818DOM19 / 13New1Total6
Rentals by Bedroom Count
2 Beds
Avg:$1,735Median:$1,575Range:$1,575 – $1,895PSF:$2 / $2Sq Ft:877 / 877DOM:1 / 1New:1Total:2
3 Beds
Avg:$2,530Median:$2,600Range:$2,200 – $2,795PSF:$1 / $1Sq Ft:1,733 / 1,738DOM:9 / 1New:2Total:12
4 Beds
Avg:$2,978Median:$2,750Range:$2,695 – $3,750PSF:$1 / $1Sq Ft:2,394 / 2,208DOM:15 / 3New:2Total:7
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $1,735 | $1,575 | $1,575 – $1,895 | $2 / $2 | 877 / 877 | 1 / 1 | 1 | 2 |
| 3 Beds | $2,530 | $2,600 | $2,200 – $2,795 | $1 / $1 | 1,733 / 1,738 | 9 / 1 | 2 | 12 |
| 4 Beds | $2,978 | $2,750 | $2,695 – $3,750 | $1 / $1 | 2,394 / 2,208 | 15 / 3 | 2 | 7 |
6-Month Sales Trend
Dec 2025
Median Price:$535,000Median DOM:47New:17Total:117
Jan 2026
Median Price:$565,000Median DOM:38New:35Total:107
Feb 2026
Median Price:$565,000Median DOM:34New:26Total:117
Mar 2026
Median Price:$540,000Median DOM:20New:40Total:117
Apr 2026
Median Price:$525,000Median DOM:9New:62Total:140
May 2026
Median Price:$525,000Median DOM:9New:19Total:159
6-Month Rental Trend
Dec 2025
Median Rent:$2,650Median DOM:28New:8Total:23
Jan 2026
Median Rent:$2,400Median DOM:23New:5Total:19
Feb 2026
Median Rent:$2,400Median DOM:23New:6Total:16
Mar 2026
Median Rent:$2,400Median DOM:22New:3Total:12
Apr 2026
Median Rent:$2,600Median DOM:1New:10Total:17
May 2026
Median Rent:$2,600Median DOM:1New:5Total:21
Key Market Takeaways
Median sale prices held steady this month while inventory expanded. Days on market were unchanged, signaling steady 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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