ZIP 23221 Housing Market Report
Richmond Metro
Report period: August 2026
23221 Monthly Market Update – August 2026
ZIP 23221 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$675,000
0.0%
Median DOM (Sales)
17
+13.3%
New Listings (Sales)
3
−81.3%
Median Rent
$1,695
0.0%
Median DOM (Rental)
25
+47.1%
Total Rental Listings
116
−6.5%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Condo (10 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($1,499,950 median)
Sales Market Overview
Median Price
$675,000
0.0%
Median DOM
17
+13.3%
New Listings
3
−81.3%
Inventory
57
−5.0%
- Average Price: $712,408
- Median Price: $675,000
- Price Range: $199,000 – $3,195,000
- Price per Sq Ft (Avg/Median): $379 / $391
- Square Footage (Avg/Median): 1,886 / 1,791
- Square Footage Range: 480 – 6,289
- Days on Market (Avg/Median): 32 / 17
- Days on Market Range: 3 – 266
- New Listings: 3
- Total Listings: 57
Sales by Property Type
Condo
Avg/Median Price$313,817 / $299,000Range$199,000 – $499,950Price per Sq Ft$404 / $405Sq Ft780 / 750DOM14 / 10New1Total12
Multi-Family
Avg/Median Price$935,000 / $935,000Range$935,000 – $935,000Price per Sq Ft$392 / $392Sq Ft2,384 / 2,384DOM39 / 39New0Total1
Single Family
Avg/Median Price$846,259 / $799,000Range$299,000 – $3,195,000Price per Sq Ft$377 / $393Sq Ft2,215 / 1,998DOM41 / 21New1Total33
Townhouse
Avg/Median Price$725,445 / $675,000Range$499,000 – $1,079,000Price per Sq Ft$355 / $356Sq Ft2,063 / 1,996DOM25 / 20New1Total11
Sales by Bedroom Count
1 Beds
Avg:$251,780Median:$265,000Range:$199,000 – $299,000PSF:$420 / $415Sq Ft:597 / 655DOM:13 / 11New:0Total:5
2 Beds
Avg:$398,436Median:$377,000Range:$282,500 – $699,000PSF:$408 / $405Sq Ft:969 / 880DOM:18 / 11New:1Total:11
3 Beds
Avg:$697,538Median:$699,950Range:$299,000 – $1,195,000PSF:$365 / $384Sq Ft:1,913 / 1,958DOM:32 / 20New:1Total:29
4 Beds
Avg:$926,000Median:$875,000Range:$445,000 – $1,350,000PSF:$347 / $339Sq Ft:2,656 / 2,571DOM:30 / 12New:1Total:8
5 Beds
Avg:$1,832,238Median:$1,499,950Range:$934,000 – $3,195,000PSF:$410 / $393Sq Ft:4,286 / 3,402DOM:103 / 18New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $251,780 | $265,000 | $199,000 – $299,000 | $420 / $415 | 597 / 655 | 13 / 11 | 0 | 5 |
| 2 Beds | $398,436 | $377,000 | $282,500 – $699,000 | $408 / $405 | 969 / 880 | 18 / 11 | 1 | 11 |
| 3 Beds | $697,538 | $699,950 | $299,000 – $1,195,000 | $365 / $384 | 1,913 / 1,958 | 32 / 20 | 1 | 29 |
| 4 Beds | $926,000 | $875,000 | $445,000 – $1,350,000 | $347 / $339 | 2,656 / 2,571 | 30 / 12 | 1 | 8 |
| 5 Beds | $1,832,238 | $1,499,950 | $934,000 – $3,195,000 | $410 / $393 | 4,286 / 3,402 | 103 / 18 | 0 | 4 |
Rental Market Overview
Median Rent
$1,695
0.0%
Median DOM
25
+47.1%
New Listings
17
Inventory
116
−6.5%
- Average Rent: $1,823
- Median Rent: $1,695
- Rent Range: $1,095 – $4,250
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,013 / 880
- Square Footage Range: 471 – 2,500
- Days on Market (Avg/Median): 56 / 25
- Days on Market Range: 1 – 326
- New Listings: 17
- Total Listings: 116
Rentals by Property Type
Apartment
$1,675
Median DOM: 30
Inventory: 93
MoM: 0.0%
Condo
$1,345
Median DOM: 1
Inventory: 11
MoM: 0.0%
Single Family
$2,750
Median DOM: 1
Inventory: 12
MoM: 0.0%
Townhouse
—
Median DOM: —
Inventory: —
MoM: 0.0%
Apartment
Avg/Median Rent$1,725 / $1,675Range$1,095 – $2,895Rent per Sq Ft$2 / $2Sq Ft934 / 880DOM66 / 30New10Total93
Condo
Avg/Median Rent$1,580 / $1,345Range$1,195 – $3,200Rent per Sq Ft$2 / $2Sq Ft866 / 800DOM22 / 1New2Total11
Single Family
Avg/Median Rent$2,806 / $2,750Range$1,345 – $4,250Rent per Sq Ft$2 / $2Sq Ft1,586 / 1,622DOM9 / 1New5Total12
Rentals by Bedroom Count
Studio
Avg:$1,729Median:$1,729Range:$1,729 – $1,729PSF:$3 / $3Sq Ft:564 / 564DOM:—New:0Total:1
1 Beds
Avg:$1,402Median:$1,350Range:$1,095 – $1,895PSF:$2 / $2Sq Ft:746 / 800DOM:65 / 27New:4Total:40
2 Beds
Avg:$1,816Median:$1,750Range:$1,295 – $2,850PSF:$2 / $2Sq Ft:948 / 900DOM:57 / 21New:9Total:59
3 Beds
Avg:$2,969Median:$2,895Range:$2,330 – $4,250PSF:$2 / $2Sq Ft:1,865 / 1,875DOM:30 / 26New:3Total:15
4 Beds
Avg:$2,000Median:$2,000Range:$2,000 – $2,000PSF:$2 / $2Sq Ft:1,300 / 1,300DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,729 | $1,729 | $1,729 – $1,729 | $3 / $3 | 564 / 564 | — | 0 | 1 |
| 1 Beds | $1,402 | $1,350 | $1,095 – $1,895 | $2 / $2 | 746 / 800 | 65 / 27 | 4 | 40 |
| 2 Beds | $1,816 | $1,750 | $1,295 – $2,850 | $2 / $2 | 948 / 900 | 57 / 21 | 9 | 59 |
| 3 Beds | $2,969 | $2,895 | $2,330 – $4,250 | $2 / $2 | 1,865 / 1,875 | 30 / 26 | 3 | 15 |
| 4 Beds | $2,000 | $2,000 | $2,000 – $2,000 | $2 / $2 | 1,300 / 1,300 | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$599,950Median DOM:8New:20Total:55
Apr 2026
Median Price:$599,000Median DOM:6New:28Total:65
May 2026
Median Price:$695,000Median DOM:8New:26Total:73
Jun 2026
Median Price:$699,000Median DOM:10New:28Total:74
Jul 2026
Median Price:$675,000Median DOM:15New:16Total:60
Aug 2026
Median Price:$675,000Median DOM:17New:3Total:57
6-Month Rental Trend
Mar 2026
Median Rent:$1,650Median DOM:26New:41Total:105
Apr 2026
Median Rent:$1,695Median DOM:16New:40Total:127
May 2026
Median Rent:$1,650Median DOM:18New:39Total:124
Jun 2026
Median Rent:$1,600Median DOM:17New:39Total:129
Jul 2026
Median Rent:$1,695Median DOM:17New:46Total:124
Aug 2026
Median Rent:$1,695Median DOM:25New:17Total:116
Key Market Takeaways
Median sale prices held steady 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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