ZIP 23223 Housing Market Report
Richmond Metro
Report period: May 2026
23223 Monthly Market Update – May 2026
ZIP 23223 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$359,000
+2.6%
Median DOM (Sales)
21
−4.5%
New Listings (Sales)
32
−60.0%
Median Rent
$1,545
+3.0%
Median DOM (Rental)
7
−46.2%
Total Rental Listings
203
+1.0%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents moved higher. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Townhouse (15 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($2,495,000 median)
Sales Market Overview
Median Price
$359,000
+2.6%
Median DOM
21
−4.5%
New Listings
32
−60.0%
Inventory
253
+6.8%
- Average Price: $393,088
- Median Price: $359,000
- Price Range: $40,000 – $2,495,000
- Price per Sq Ft (Avg/Median): $243 / $240
- Square Footage (Avg/Median): 1,646 / 1,543
- Square Footage Range: 667 – 7,624
- Days on Market (Avg/Median): 36 / 21
- Days on Market Range: 2 – 241
- New Listings: 32
- Total Listings: 253
Sales by Property Type
Condo
Avg/Median Price$248,964 / $159,900Range$115,000 – $595,000Price per Sq Ft$257 / $181Sq Ft948 / 822DOM54 / 64New0Total24
Land
Avg/Median Price$204,867 / $75,000Range$40,000 – $720,000Price per Sq Ft—Sq Ft—DOM72 / 31New1Total9
Multi-Family
Avg/Median Price$255,000 / $255,000Range$255,000 – $255,000Price per Sq Ft$125 / $125Sq Ft2,034 / 2,034DOM182 / 182New0Total1
Single Family
Avg/Median Price$421,055 / $367,990Range$100,000 – $2,495,000Price per Sq Ft$245 / $247Sq Ft1,723 / 1,624DOM31 / 19New23Total174
Townhouse
Avg/Median Price$402,525 / $359,000Range$149,950 – $897,500Price per Sq Ft$231 / $228Sq Ft1,713 / 1,606DOM36 / 15New8Total45
Sales by Bedroom Count
1 Beds
Avg:$360,271Median:$365,000Range:$314,950 – $385,000PSF:$388 / $370Sq Ft:950 / 971DOM:46 / 13New:0Total:7
2 Beds
Avg:$274,917Median:$229,900Range:$100,000 – $625,000PSF:$244 / $237Sq Ft:1,105 / 998DOM:49 / 33New:5Total:37
3 Beds
Avg:$392,219Median:$359,000Range:$125,000 – $1,150,000PSF:$246 / $244Sq Ft:1,573 / 1,528DOM:31 / 18New:18Total:149
4 Beds
Avg:$480,368Median:$429,750Range:$209,000 – $1,379,000PSF:$214 / $204Sq Ft:2,217 / 2,110DOM:29 / 16New:7Total:45
5 Beds
Avg:$472,258Median:$478,800Range:$220,000 – $799,500PSF:$197 / $181Sq Ft:2,449 / 2,154DOM:48 / 38New:1Total:5
6 Beds
Avg:$2,495,000Median:$2,495,000Range:$2,495,000 – $2,495,000PSF:$327 / $327Sq Ft:7,624 / 7,624DOM:103 / 103New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $360,271 | $365,000 | $314,950 – $385,000 | $388 / $370 | 950 / 971 | 46 / 13 | 0 | 7 |
| 2 Beds | $274,917 | $229,900 | $100,000 – $625,000 | $244 / $237 | 1,105 / 998 | 49 / 33 | 5 | 37 |
| 3 Beds | $392,219 | $359,000 | $125,000 – $1,150,000 | $246 / $244 | 1,573 / 1,528 | 31 / 18 | 18 | 149 |
| 4 Beds | $480,368 | $429,750 | $209,000 – $1,379,000 | $214 / $204 | 2,217 / 2,110 | 29 / 16 | 7 | 45 |
| 5 Beds | $472,258 | $478,800 | $220,000 – $799,500 | $197 / $181 | 2,449 / 2,154 | 48 / 38 | 1 | 5 |
| 6 Beds | $2,495,000 | $2,495,000 | $2,495,000 – $2,495,000 | $327 / $327 | 7,624 / 7,624 | 103 / 103 | 0 | 1 |
Rental Market Overview
Median Rent
$1,545
+3.0%
Median DOM
7
−46.2%
New Listings
49
Inventory
203
+1.0%
- Average Rent: $1,639
- Median Rent: $1,545
- Rent Range: $700 – $3,400
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,052 / 900
- Square Footage Range: 350 – 3,327
- Days on Market (Avg/Median): 46 / 7
- Days on Market Range: 1 – 364
- New Listings: 49
- Total Listings: 203
Rentals by Property Type
Apartment
$1,295
Median DOM: 43
Inventory: 80
MoM: +3.0%
Condo
$1,475
Median DOM: 1
Inventory: 32
MoM: +3.0%
Single Family
$1,800
Median DOM: 1
Inventory: 72
MoM: +3.0%
Townhouse
$1,495
Median DOM: 1
Inventory: 17
MoM: +3.0%
Apartment
Avg/Median Rent$1,406 / $1,295Range$795 – $2,650Rent per Sq Ft$2 / $2Sq Ft830 / 727DOM88 / 43New5Total80
Condo
Avg/Median Rent$1,527 / $1,475Range$950 – $2,295Rent per Sq Ft$2 / $2Sq Ft924 / 800DOM16 / 1New18Total32
Multi-Family
Avg/Median Rent$1,678 / $1,500Range$1,500 – $1,855Rent per Sq Ft$1 / $1Sq Ft1,315 / 888DOM79 / 47New0Total2
Single Family
Avg/Median Rent$1,949 / $1,800Range$700 – $3,400Rent per Sq Ft$2 / $2Sq Ft1,320 / 1,188DOM24 / 1New18Total72
Townhouse
Avg/Median Rent$1,625 / $1,495Range$1,195 – $2,250Rent per Sq Ft$2 / $2Sq Ft1,169 / 924DOM21 / 1New8Total17
Rentals by Bedroom Count
Studio
Avg:$1,211Median:$1,200Range:$1,095 – $1,399PSF:$3 / $2Sq Ft:490 / 456DOM:75 / 45New:0Total:5
1 Beds
Avg:$1,292Median:$1,275Range:$795 – $2,199PSF:$2 / $2Sq Ft:663 / 615DOM:110 / 78New:6Total:43
2 Beds
Avg:$1,535Median:$1,495Range:$700 – $2,995PSF:$2 / $2Sq Ft:944 / 882DOM:29 / 1New:33Total:102
3 Beds
Avg:$2,147Median:$2,195Range:$1,295 – $3,400PSF:$1 / $1Sq Ft:1,561 / 1,468DOM:34 / 7New:10Total:44
4 Beds
Avg:$2,224Median:$2,295Range:$1,495 – $3,350PSF:$1 / $1Sq Ft:1,841 / 1,543DOM:27 / 22New:0Total:9
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,211 | $1,200 | $1,095 – $1,399 | $3 / $2 | 490 / 456 | 75 / 45 | 0 | 5 |
| 1 Beds | $1,292 | $1,275 | $795 – $2,199 | $2 / $2 | 663 / 615 | 110 / 78 | 6 | 43 |
| 2 Beds | $1,535 | $1,495 | $700 – $2,995 | $2 / $2 | 944 / 882 | 29 / 1 | 33 | 102 |
| 3 Beds | $2,147 | $2,195 | $1,295 – $3,400 | $1 / $1 | 1,561 / 1,468 | 34 / 7 | 10 | 44 |
| 4 Beds | $2,224 | $2,295 | $1,495 – $3,350 | $1 / $1 | 1,841 / 1,543 | 27 / 22 | 0 | 9 |
6-Month Sales Trend
Dec 2025
Median Price:$327,000Median DOM:47New:42Total:219
Jan 2026
Median Price:$335,000Median DOM:36New:65Total:201
Feb 2026
Median Price:$345,000Median DOM:36New:62Total:216
Mar 2026
Median Price:$345,000Median DOM:25New:75Total:225
Apr 2026
Median Price:$350,000Median DOM:22New:80Total:237
May 2026
Median Price:$359,000Median DOM:21New:32Total:253
6-Month Rental Trend
Dec 2025
Median Rent:$1,450Median DOM:9New:83Total:190
Jan 2026
Median Rent:$1,499Median DOM:9New:89Total:193
Feb 2026
Median Rent:$1,537Median DOM:10New:70Total:194
Mar 2026
Median Rent:$1,570Median DOM:14New:73Total:191
Apr 2026
Median Rent:$1,500Median DOM:13New:79Total:201
May 2026
Median Rent:$1,545Median DOM:7New:49Total:203
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing increased, 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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