ZIP 23221 Housing Market Report
Richmond Metro
Report period: May 2026
23221 Monthly Market Update – May 2026
ZIP 23221 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$675,000
+12.7%
Median DOM (Sales)
7
+16.7%
New Listings (Sales)
8
−71.4%
Median Rent
$1,695
0.0%
Median DOM (Rental)
14
−12.5%
Total Rental Listings
129
+1.6%
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: Condo (4 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($1,700,000 median)
Sales Market Overview
Median Price
$675,000
+12.7%
Median DOM
7
+16.7%
New Listings
8
−71.4%
Inventory
76
+16.9%
- Average Price: $774,112
- Median Price: $675,000
- Price Range: $204,500 – $2,680,000
- Price per Sq Ft (Avg/Median): $378 / $386
- Square Footage (Avg/Median): 2,002 / 1,828
- Square Footage Range: 480 – 4,970
- Days on Market (Avg/Median): 15 / 7
- Days on Market Range: 1 – 175
- New Listings: 8
- Total Listings: 76
Sales by Property Type
Condo
Avg/Median Price$289,558 / $290,000Range$204,500 – $399,900Price per Sq Ft$392 / $388Sq Ft742 / 733DOM8 / 4New0Total13
Land
Avg/Median Price$1,200,000 / $1,200,000Range$1,200,000 – $1,200,000Price per Sq Ft—Sq Ft—DOM—New0Total1
Single Family
Avg/Median Price$930,232 / $820,000Range$299,900 – $2,680,000Price per Sq Ft$382 / $388Sq Ft2,365 / 2,039DOM14 / 8New8Total49
Townhouse
Avg/Median Price$637,454 / $675,000Range$450,000 – $795,000Price per Sq Ft$352 / $326Sq Ft1,897 / 2,101DOM28 / 6New0Total13
Sales by Bedroom Count
1 Beds
Avg:$256,794Median:$274,950Range:$204,500 – $299,900PSF:$394 / $388Sq Ft:655 / 655DOM:9 / 4New:0Total:8
2 Beds
Avg:$388,089Median:$355,000Range:$290,000 – $515,000PSF:$392 / $381Sq Ft:991 / 933DOM:20 / 6New:0Total:9
3 Beds
Avg:$632,983Median:$599,000Range:$349,900 – $1,395,000PSF:$360 / $352Sq Ft:1,796 / 1,563DOM:13 / 6New:2Total:30
4 Beds
Avg:$1,045,080Median:$850,000Range:$379,950 – $2,195,000PSF:$380 / $388Sq Ft:2,695 / 2,475DOM:10 / 7New:6Total:23
5 Beds
Avg:$1,811,800Median:$1,700,000Range:$934,000 – $2,680,000PSF:$431 / $393Sq Ft:4,035 / 4,321DOM:50 / 23New:0Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $256,794 | $274,950 | $204,500 – $299,900 | $394 / $388 | 655 / 655 | 9 / 4 | 0 | 8 |
| 2 Beds | $388,089 | $355,000 | $290,000 – $515,000 | $392 / $381 | 991 / 933 | 20 / 6 | 0 | 9 |
| 3 Beds | $632,983 | $599,000 | $349,900 – $1,395,000 | $360 / $352 | 1,796 / 1,563 | 13 / 6 | 2 | 30 |
| 4 Beds | $1,045,080 | $850,000 | $379,950 – $2,195,000 | $380 / $388 | 2,695 / 2,475 | 10 / 7 | 6 | 23 |
| 5 Beds | $1,811,800 | $1,700,000 | $934,000 – $2,680,000 | $431 / $393 | 4,035 / 4,321 | 50 / 23 | 0 | 5 |
Rental Market Overview
Median Rent
$1,695
0.0%
Median DOM
14
−12.5%
New Listings
21
Inventory
129
+1.6%
- Average Rent: $1,841
- Median Rent: $1,695
- Rent Range: $950 – $5,994
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,096 / 944
- Square Footage Range: 482 – 3,202
- Days on Market (Avg/Median): 51 / 14
- Days on Market Range: 1 – 316
- New Listings: 21
- Total Listings: 129
Rentals by Property Type
Apartment
$1,595
Median DOM: 49
Inventory: 86
MoM: 0.0%
Condo
$1,495
Median DOM: 1
Inventory: 18
MoM: 0.0%
Single Family
$2,400
Median DOM: 1
Inventory: 23
MoM: 0.0%
Townhouse
—
Median DOM: —
Inventory: —
MoM: 0.0%
Apartment
Avg/Median Rent$1,704 / $1,595Range$1,050 – $5,994Rent per Sq Ft$2 / $2Sq Ft947 / 850DOM71 / 49New7Total86
Condo
Avg/Median Rent$1,534 / $1,495Range$1,000 – $2,100Rent per Sq Ft$2 / $2Sq Ft981 / 900DOM25 / 1New7Total18
Multi-Family
Avg/Median Rent$2,550 / $1,900Range$1,900 – $3,200Rent per Sq Ft$2 / $1Sq Ft1,718 / 1,000DOM31 / 15New0Total2
Single Family
Avg/Median Rent$2,532 / $2,400Range$950 – $3,750Rent per Sq Ft$2 / $2Sq Ft1,464 / 1,297DOM4 / 1New7Total23
Rentals by Bedroom Count
Studio
Avg:$1,681Median:$1,681Range:$1,681 – $1,681PSF:$3 / $3Sq Ft:564 / 564DOM:316 / 316New:0Total:1
1 Beds
Avg:$1,373Median:$1,350Range:$950 – $2,190PSF:$2 / $2Sq Ft:730 / 700DOM:59 / 29New:4Total:40
2 Beds
Avg:$1,769Median:$1,700Range:$1,250 – $2,700PSF:$2 / $2Sq Ft:974 / 944DOM:49 / 13New:12Total:68
3 Beds
Avg:$2,874Median:$2,900Range:$2,100 – $3,750PSF:$2 / $1Sq Ft:1,863 / 1,700DOM:16 / 1New:2Total:13
4 Beds
Avg:$3,326Median:$3,200Range:$2,100 – $5,994PSF:$2 / $2Sq Ft:2,099 / 2,170DOM:54 / 6New:3Total:7
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,681 | $1,681 | $1,681 – $1,681 | $3 / $3 | 564 / 564 | 316 / 316 | 0 | 1 |
| 1 Beds | $1,373 | $1,350 | $950 – $2,190 | $2 / $2 | 730 / 700 | 59 / 29 | 4 | 40 |
| 2 Beds | $1,769 | $1,700 | $1,250 – $2,700 | $2 / $2 | 974 / 944 | 49 / 13 | 12 | 68 |
| 3 Beds | $2,874 | $2,900 | $2,100 – $3,750 | $2 / $1 | 1,863 / 1,700 | 16 / 1 | 2 | 13 |
| 4 Beds | $3,326 | $3,200 | $2,100 – $5,994 | $2 / $2 | 2,099 / 2,170 | 54 / 6 | 3 | 7 |
6-Month Sales Trend
Dec 2025
Median Price:$614,950Median DOM:55New:5Total:40
Jan 2026
Median Price:$650,000Median DOM:51New:13Total:37
Feb 2026
Median Price:$625,000Median DOM:12New:18Total:47
Mar 2026
Median Price:$599,950Median DOM:8New:20Total:55
Apr 2026
Median Price:$599,000Median DOM:6New:28Total:65
May 2026
Median Price:$675,000Median DOM:7New:8Total:76
6-Month Rental Trend
Dec 2025
Median Rent:$1,595Median DOM:56New:15Total:56
Jan 2026
Median Rent:$1,595Median DOM:24New:30Total:75
Feb 2026
Median Rent:$1,535Median DOM:26New:30Total:88
Mar 2026
Median Rent:$1,650Median DOM:26New:41Total:105
Apr 2026
Median Rent:$1,695Median DOM:16New:40Total:127
May 2026
Median Rent:$1,695Median DOM:14New:21Total:129
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. 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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