ZIP 23224 Housing Market Report
Richmond Metro
Report period: May 2026
23224 Monthly Market Update – May 2026
ZIP 23224 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$298,800
−0.4%
Median DOM (Sales)
26
−21.2%
New Listings (Sales)
12
−71.4%
Median Rent
$1,400
+0.1%
Median DOM (Rental)
19
+5.6%
Total Rental Listings
170
−2.3%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market improved. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (6 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 8 Beds ($404,090 median)
Sales Market Overview
Median Price
$298,800
−0.4%
Median DOM
26
−21.2%
New Listings
12
−71.4%
Inventory
144
+2.9%
- Average Price: $305,934
- Median Price: $298,800
- Price Range: $30,000 – $966,500
- Price per Sq Ft (Avg/Median): $221 / $223
- Square Footage (Avg/Median): 1,464 / 1,456
- Square Footage Range: 586 – 3,100
- Days on Market (Avg/Median): 55 / 26
- Days on Market Range: 2 – 352
- New Listings: 12
- Total Listings: 144
Sales by Property Type
Condo
Avg/Median Price$309,458 / $249,450Range$214,900 – $449,900Price per Sq Ft$322 / $306Sq Ft976 / 802DOM61 / 33New0Total6
Land
Avg/Median Price$109,143 / $100,000Range$30,000 – $260,000Price per Sq Ft—Sq Ft—DOM119 / 70New0Total7
Multi-Family
Avg/Median Price$675,000 / $675,000Range$675,000 – $675,000Price per Sq Ft$242 / $242Sq Ft2,786 / 2,786DOM6 / 6New1Total1
Single Family
Avg/Median Price$280,167 / $278,000Range$125,000 – $510,000Price per Sq Ft$210 / $211Sq Ft1,389 / 1,354DOM46 / 25New10Total96
Townhouse
Avg/Median Price$407,728 / $371,240Range$165,000 – $966,500Price per Sq Ft$231 / $230Sq Ft1,724 / 1,602DOM67 / 26New1Total34
Sales by Bedroom Count
1 Beds
Avg:$223,588Median:$214,900Range:$187,500 – $249,450PSF:$324 / $311Sq Ft:695 / 598DOM:62 / 66New:0Total:4
2 Beds
Avg:$269,242Median:$235,000Range:$125,000 – $449,900PSF:$241 / $234Sq Ft:1,137 / 1,120DOM:50 / 24New:2Total:33
3 Beds
Avg:$322,349Median:$320,000Range:$160,000 – $949,000PSF:$216 / $220Sq Ft:1,503 / 1,487DOM:51 / 25New:7Total:73
4 Beds
Avg:$355,032Median:$299,900Range:$172,500 – $966,500PSF:$199 / $186Sq Ft:1,734 / 1,680DOM:61 / 39New:1Total:22
5 Beds
Avg:$479,967Median:$385,000Range:$379,900 – $675,000PSF:$175 / $146Sq Ft:2,736 / 2,786DOM:6 / 6New:2Total:3
7 Beds
Avg:$325,000Median:$325,000Range:$325,000 – $325,000PSF:$142 / $142Sq Ft:2,286 / 2,286DOM:66 / 66New:0Total:1
8 Beds
Avg:$404,090Median:$404,090Range:$404,090 – $404,090PSF:$207 / $207Sq Ft:1,951 / 1,951DOM:10 / 10New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $223,588 | $214,900 | $187,500 – $249,450 | $324 / $311 | 695 / 598 | 62 / 66 | 0 | 4 |
| 2 Beds | $269,242 | $235,000 | $125,000 – $449,900 | $241 / $234 | 1,137 / 1,120 | 50 / 24 | 2 | 33 |
| 3 Beds | $322,349 | $320,000 | $160,000 – $949,000 | $216 / $220 | 1,503 / 1,487 | 51 / 25 | 7 | 73 |
| 4 Beds | $355,032 | $299,900 | $172,500 – $966,500 | $199 / $186 | 1,734 / 1,680 | 61 / 39 | 1 | 22 |
| 5 Beds | $479,967 | $385,000 | $379,900 – $675,000 | $175 / $146 | 2,736 / 2,786 | 6 / 6 | 2 | 3 |
| 7 Beds | $325,000 | $325,000 | $325,000 – $325,000 | $142 / $142 | 2,286 / 2,286 | 66 / 66 | 0 | 1 |
| 8 Beds | $404,090 | $404,090 | $404,090 – $404,090 | $207 / $207 | 1,951 / 1,951 | 10 / 10 | 0 | 1 |
Rental Market Overview
Median Rent
$1,400
+0.1%
Median DOM
19
+5.6%
New Listings
31
Inventory
170
−2.3%
- Average Rent: $1,552
- Median Rent: $1,400
- Rent Range: $750 – $5,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,029 / 900
- Square Footage Range: 365 – 6,474
- Days on Market (Avg/Median): 55 / 19
- Days on Market Range: 1 – 361
- New Listings: 31
- Total Listings: 170
Rentals by Property Type
Apartment
$1,295
Median DOM: 55
Inventory: 76
MoM: +0.1%
Condo
$1,095
Median DOM: 1
Inventory: 22
MoM: +0.1%
Single Family
$1,695
Median DOM: 12
Inventory: 59
MoM: +0.1%
Townhouse
$1,900
Median DOM: 23
Inventory: 13
MoM: +0.1%
Apartment
Avg/Median Rent$1,388 / $1,295Range$750 – $3,395Rent per Sq Ft$2 / $2Sq Ft733 / 656DOM92 / 55New7Total76
Condo
Avg/Median Rent$1,272 / $1,095Range$895 – $2,400Rent per Sq Ft$2 / $1Sq Ft1,096 / 800DOM8 / 1New9Total22
Single Family
Avg/Median Rent$1,750 / $1,695Range$750 – $2,600Rent per Sq Ft$1 / $1Sq Ft1,301 / 1,297DOM43 / 12New10Total59
Townhouse
Avg/Median Rent$2,082 / $1,900Range$995 – $5,000Rent per Sq Ft$1 / $1Sq Ft1,552 / 1,292DOM25 / 23New5Total13
Rentals by Bedroom Count
Studio
Avg:$1,156Median:$1,195Range:$809 – $1,397PSF:$3 / $3Sq Ft:452 / 435DOM:200 / 224New:0Total:7
1 Beds
Avg:$1,240Median:$1,250Range:$750 – $1,850PSF:$2 / $2Sq Ft:778 / 615DOM:95 / 45New:6Total:52
2 Beds
Avg:$1,407Median:$1,299Range:$930 – $3,395PSF:$2 / $2Sq Ft:875 / 850DOM:30 / 7New:16Total:57
3 Beds
Avg:$1,968Median:$1,850Range:$1,350 – $3,946PSF:$1 / $1Sq Ft:1,415 / 1,345DOM:43 / 25New:5Total:38
4 Beds
Avg:$2,261Median:$2,200Range:$1,550 – $5,000PSF:$1 / $1Sq Ft:1,670 / 1,521DOM:48 / 12New:3Total:15
5 Beds
Avg:$2,395Median:$2,395Range:$2,395 – $2,395PSF:—Sq Ft:—DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,156 | $1,195 | $809 – $1,397 | $3 / $3 | 452 / 435 | 200 / 224 | 0 | 7 |
| 1 Beds | $1,240 | $1,250 | $750 – $1,850 | $2 / $2 | 778 / 615 | 95 / 45 | 6 | 52 |
| 2 Beds | $1,407 | $1,299 | $930 – $3,395 | $2 / $2 | 875 / 850 | 30 / 7 | 16 | 57 |
| 3 Beds | $1,968 | $1,850 | $1,350 – $3,946 | $1 / $1 | 1,415 / 1,345 | 43 / 25 | 5 | 38 |
| 4 Beds | $2,261 | $2,200 | $1,550 – $5,000 | $1 / $1 | 1,670 / 1,521 | 48 / 12 | 3 | 15 |
| 5 Beds | $2,395 | $2,395 | $2,395 – $2,395 | — | — | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$288,000Median DOM:44New:23Total:137
Jan 2026
Median Price:$290,000Median DOM:33New:45Total:130
Feb 2026
Median Price:$289,900Median DOM:31New:41Total:131
Mar 2026
Median Price:$290,000Median DOM:33New:38Total:139
Apr 2026
Median Price:$299,900Median DOM:33New:42Total:140
May 2026
Median Price:$298,800Median DOM:26New:12Total:144
6-Month Rental Trend
Dec 2025
Median Rent:$1,375Median DOM:3New:85Total:177
Jan 2026
Median Rent:$1,374Median DOM:3New:73Total:185
Feb 2026
Median Rent:$1,425Median DOM:14New:63Total:176
Mar 2026
Median Rent:$1,400Median DOM:14New:67Total:178
Apr 2026
Median Rent:$1,399Median DOM:18New:65Total:174
May 2026
Median Rent:$1,400Median DOM:19New:31Total:170
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing increased, 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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