ZIP 23120 Housing Market Report
Richmond Metro
Report period: May 2026
23120 Monthly Market Update – May 2026
ZIP 23120 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$583,490
+3.6%
Median DOM (Sales)
16
+14.3%
New Listings (Sales)
36
−53.8%
Median Rent
$2,695
0.0%
Median DOM (Rental)
25
+4.2%
Total Rental Listings
28
−6.7%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (7 DOM)
- Fastest renting: Single Family (13 DOM)
- Strongest bedroom: 6 Beds ($799,950 median)
Sales Market Overview
Median Price
$583,490
+3.6%
Median DOM
16
+14.3%
New Listings
36
−53.8%
Inventory
181
−0.5%
- Average Price: $631,069
- Median Price: $583,490
- Price Range: $175,000 – $1,600,000
- Price per Sq Ft (Avg/Median): $234 / $232
- Square Footage (Avg/Median): 2,807 / 2,579
- Square Footage Range: 1,140 – 6,569
- Days on Market (Avg/Median): 32 / 16
- Days on Market Range: 2 – 351
- New Listings: 36
- Total Listings: 181
Sales by Property Type
Condo
Avg/Median Price$475,612 / $499,000Range$285,000 – $629,801Price per Sq Ft$251 / $247Sq Ft1,917 / 1,906DOM51 / 57New2Total14
Land
Avg/Median Price$300,000 / $290,000Range$175,000 – $450,000Price per Sq Ft—Sq Ft—DOM58 / 47New0Total6
Single Family
Avg/Median Price$749,030 / $719,950Range$284,900 – $1,600,000Price per Sq Ft$234 / $231Sq Ft3,287 / 3,255DOM35 / 17New13Total111
Townhouse
Avg/Median Price$452,450 / $452,785Range$375,000 – $601,000Price per Sq Ft$229 / $231Sq Ft1,990 / 1,862DOM15 / 7New21Total50
Sales by Bedroom Count
2 Beds
Avg:$472,756Median:$499,900Range:$285,000 – $599,790PSF:$266 / $253Sq Ft:1,785 / 1,709DOM:44 / 16New:1Total:18
3 Beds
Avg:$475,486Median:$456,925Range:$284,900 – $840,000PSF:$239 / $234Sq Ft:1,998 / 1,897DOM:20 / 8New:18Total:53
4 Beds
Avg:$707,142Median:$629,000Range:$384,900 – $1,600,000PSF:$237 / $231Sq Ft:2,968 / 2,766DOM:31 / 14New:10Total:55
5 Beds
Avg:$802,845Median:$749,000Range:$479,990 – $1,450,000PSF:$214 / $208Sq Ft:3,813 / 3,529DOM:27 / 20New:6Total:43
6 Beds
Avg:$882,990Median:$799,950Range:$769,000 – $1,195,000PSF:$207 / $188Sq Ft:4,324 / 4,156DOM:109 / 17New:1Total:6
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $472,756 | $499,900 | $285,000 – $599,790 | $266 / $253 | 1,785 / 1,709 | 44 / 16 | 1 | 18 |
| 3 Beds | $475,486 | $456,925 | $284,900 – $840,000 | $239 / $234 | 1,998 / 1,897 | 20 / 8 | 18 | 53 |
| 4 Beds | $707,142 | $629,000 | $384,900 – $1,600,000 | $237 / $231 | 2,968 / 2,766 | 31 / 14 | 10 | 55 |
| 5 Beds | $802,845 | $749,000 | $479,990 – $1,450,000 | $214 / $208 | 3,813 / 3,529 | 27 / 20 | 6 | 43 |
| 6 Beds | $882,990 | $799,950 | $769,000 – $1,195,000 | $207 / $188 | 4,324 / 4,156 | 109 / 17 | 1 | 6 |
Rental Market Overview
Median Rent
$2,695
0.0%
Median DOM
25
+4.2%
New Listings
5
Inventory
28
−6.7%
- Average Rent: $2,755
- Median Rent: $2,695
- Rent Range: $1,625 – $3,960
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 2,231 / 1,920
- Square Footage Range: 609 – 4,515
- Days on Market (Avg/Median): 39 / 25
- Days on Market Range: 1 – 209
- New Listings: 5
- Total Listings: 28
Rentals by Property Type
Apartment
$1,625
Median DOM: 49
Inventory: 2
MoM: 0.0%
Condo
$2,300
Median DOM: 36
Inventory: 1
MoM: 0.0%
Single Family
$3,000
Median DOM: 13
Inventory: 13
MoM: 0.0%
Townhouse
$2,500
Median DOM: 32
Inventory: 12
MoM: 0.0%
Apartment
Avg/Median Rent$1,912 / $1,625Range$1,625 – $2,200Rent per Sq Ft$2 / $1Sq Ft1,104 / 609DOM129 / 49New0Total2
Condo
Avg/Median Rent$2,300 / $2,300Range$2,300 – $2,300Rent per Sq Ft$2 / $2Sq Ft1,298 / 1,298DOM36 / 36New0Total1
Single Family
Avg/Median Rent$3,091 / $3,000Range$1,995 – $3,960Rent per Sq Ft$1 / $1Sq Ft2,810 / 2,531DOM18 / 13New4Total13
Townhouse
Avg/Median Rent$2,570 / $2,500Range$2,325 – $2,995Rent per Sq Ft$1 / $1Sq Ft1,868 / 1,848DOM43 / 32New1Total12
Rentals by Bedroom Count
1 Beds
Avg:$1,625Median:$1,625Range:$1,625 – $1,625PSF:$3 / $3Sq Ft:609 / 609DOM:209 / 209New:0Total:1
2 Beds
Avg:$2,250Median:$2,200Range:$2,200 – $2,300PSF:$2 / $1Sq Ft:1,449 / 1,298DOM:43 / 36New:0Total:2
3 Beds
Avg:$2,614Median:$2,600Range:$2,325 – $3,000PSF:$1 / $1Sq Ft:1,956 / 1,856DOM:49 / 29New:1Total:14
4 Beds
Avg:$2,891Median:$2,995Range:$1,995 – $3,695PSF:$1 / $1Sq Ft:2,550 / 2,460DOM:9 / 1New:3Total:8
5 Beds
Avg:$3,678Median:$3,395Range:$3,395 – $3,960PSF:$1 / $1Sq Ft:3,324 / 3,016DOM:9 / 1New:1Total:2
6 Beds
Avg:$3,950Median:$3,950Range:$3,950 – $3,950PSF:$1 / $1Sq Ft:4,515 / 4,515DOM:—New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,625 | $1,625 | $1,625 – $1,625 | $3 / $3 | 609 / 609 | 209 / 209 | 0 | 1 |
| 2 Beds | $2,250 | $2,200 | $2,200 – $2,300 | $2 / $1 | 1,449 / 1,298 | 43 / 36 | 0 | 2 |
| 3 Beds | $2,614 | $2,600 | $2,325 – $3,000 | $1 / $1 | 1,956 / 1,856 | 49 / 29 | 1 | 14 |
| 4 Beds | $2,891 | $2,995 | $1,995 – $3,695 | $1 / $1 | 2,550 / 2,460 | 9 / 1 | 3 | 8 |
| 5 Beds | $3,678 | $3,395 | $3,395 – $3,960 | $1 / $1 | 3,324 / 3,016 | 9 / 1 | 1 | 2 |
| 6 Beds | $3,950 | $3,950 | $3,950 – $3,950 | $1 / $1 | 4,515 / 4,515 | — | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$539,000Median DOM:36New:47Total:143
Jan 2026
Median Price:$549,950Median DOM:21New:54Total:130
Feb 2026
Median Price:$565,490Median DOM:23New:61Total:144
Mar 2026
Median Price:$543,440Median DOM:16New:78Total:164
Apr 2026
Median Price:$563,058Median DOM:14New:78Total:182
May 2026
Median Price:$583,490Median DOM:16New:36Total:181
6-Month Rental Trend
Dec 2025
Median Rent:$2,700Median DOM:41New:6Total:22
Jan 2026
Median Rent:$2,750Median DOM:25New:11Total:30
Feb 2026
Median Rent:$2,750Median DOM:32New:5Total:23
Mar 2026
Median Rent:$2,750Median DOM:22New:16Total:33
Apr 2026
Median Rent:$2,695Median DOM:24New:7Total:30
May 2026
Median Rent:$2,695Median DOM:25New:5Total:28
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 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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