ZIP 23224 Housing Market Report
Richmond Metro
Report period: August 2026
23224 Monthly Market Update – August 2026
ZIP 23224 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$299,900
−0.0%
Median DOM (Sales)
29
+11.5%
New Listings (Sales)
11
−73.8%
Median Rent
$1,500
+0.1%
Median DOM (Rental)
27
−10.0%
Total Rental Listings
164
−1.8%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (5 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($659,950 median)
Sales Market Overview
Median Price
$299,900
−0.0%
Median DOM
29
+11.5%
New Listings
11
−73.8%
Inventory
142
+2.2%
- Average Price: $298,250
- Median Price: $299,900
- Price Range: $45,999 – $934,000
- Price per Sq Ft (Avg/Median): $219 / $216
- Square Footage (Avg/Median): 1,432 / 1,360
- Square Footage Range: 532 – 3,408
- Days on Market (Avg/Median): 41 / 29
- Days on Market Range: 1 – 327
- New Listings: 11
- Total Listings: 142
Sales by Property Type
Condo
Avg/Median Price$266,773 / $249,950Range$214,900 – $349,000Price per Sq Ft$282 / $260Sq Ft976 / 1,015DOM55 / 28New0Total6
Land
Avg/Median Price$122,166 / $100,000Range$45,999 – $240,000Price per Sq Ft—Sq Ft—DOM107 / 60New0Total6
Multi-Family
Avg/Median Price$689,975 / $659,950Range$659,950 – $720,000Price per Sq Ft$239 / $237Sq Ft2,891 / 2,786DOM18 / 5New1Total2
Single Family
Avg/Median Price$283,474 / $298,000Range$119,000 – $529,000Price per Sq Ft$214 / $215Sq Ft1,383 / 1,322DOM37 / 22New7Total97
Townhouse
Avg/Median Price$359,388 / $341,390Range$150,000 – $934,000Price per Sq Ft$222 / $212Sq Ft1,579 / 1,602DOM43 / 36New3Total31
Sales by Bedroom Count
1 Beds
Avg:$222,433Median:$214,900Range:$130,000 – $299,900PSF:$303 / $260Sq Ft:763 / 598DOM:49 / 28New:0Total:6
2 Beds
Avg:$245,788Median:$218,000Range:$119,000 – $450,000PSF:$223 / $218Sq Ft:1,116 / 1,118DOM:35 / 22New:5Total:34
3 Beds
Avg:$319,525Median:$310,000Range:$139,000 – $934,000PSF:$218 / $216Sq Ft:1,473 / 1,377DOM:38 / 32New:3Total:69
4 Beds
Avg:$328,004Median:$315,000Range:$189,900 – $609,000PSF:$203 / $202Sq Ft:1,639 / 1,624DOM:43 / 18New:2Total:22
5 Beds
Avg:$586,633Median:$659,950Range:$379,950 – $720,000PSF:$204 / $237Sq Ft:2,865 / 2,812DOM:32 / 30New:1Total:3
6 Beds
Avg:$375,000Median:$375,000Range:$375,000 – $375,000PSF:$145 / $145Sq Ft:2,578 / 2,578DOM:7 / 7New:0Total:1
7 Beds
Avg:$529,000Median:$529,000Range:$529,000 – $529,000PSF:$155 / $155Sq Ft:3,408 / 3,408DOM:87 / 87New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $222,433 | $214,900 | $130,000 – $299,900 | $303 / $260 | 763 / 598 | 49 / 28 | 0 | 6 |
| 2 Beds | $245,788 | $218,000 | $119,000 – $450,000 | $223 / $218 | 1,116 / 1,118 | 35 / 22 | 5 | 34 |
| 3 Beds | $319,525 | $310,000 | $139,000 – $934,000 | $218 / $216 | 1,473 / 1,377 | 38 / 32 | 3 | 69 |
| 4 Beds | $328,004 | $315,000 | $189,900 – $609,000 | $203 / $202 | 1,639 / 1,624 | 43 / 18 | 2 | 22 |
| 5 Beds | $586,633 | $659,950 | $379,950 – $720,000 | $204 / $237 | 2,865 / 2,812 | 32 / 30 | 1 | 3 |
| 6 Beds | $375,000 | $375,000 | $375,000 – $375,000 | $145 / $145 | 2,578 / 2,578 | 7 / 7 | 0 | 1 |
| 7 Beds | $529,000 | $529,000 | $529,000 – $529,000 | $155 / $155 | 3,408 / 3,408 | 87 / 87 | 0 | 1 |
Rental Market Overview
Median Rent
$1,500
+0.1%
Median DOM
27
−10.0%
New Listings
26
Inventory
164
−1.8%
- Average Rent: $1,631
- Median Rent: $1,500
- Rent Range: $795 – $3,780
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,053 / 872
- Square Footage Range: 386 – 13,132
- Days on Market (Avg/Median): 70 / 27
- Days on Market Range: 1 – 361
- New Listings: 26
- Total Listings: 164
Rentals by Property Type
Apartment
$1,325
Median DOM: 92
Inventory: 74
MoM: +0.1%
Condo
$1,650
Median DOM: 1
Inventory: 22
MoM: +0.1%
Single Family
$1,895
Median DOM: 4
Inventory: 49
MoM: +0.1%
Townhouse
$2,000
Median DOM: 7
Inventory: 13
MoM: +0.1%
Apartment
Avg/Median Rent$1,418 / $1,325Range$885 – $2,500Rent per Sq Ft$2 / $2Sq Ft742 / 656DOM120 / 92New3Total74
Condo
Avg/Median Rent$1,618 / $1,650Range$795 – $2,600Rent per Sq Ft$2 / $2Sq Ft1,037 / 953DOM19 / 1New6Total22
Multi-Family
Avg/Median Rent$1,658 / $1,500Range$1,500 – $2,250Rent per Sq Ft$2 / $3Sq Ft876 / 540DOM35 / 46New0Total6
Single Family
Avg/Median Rent$1,882 / $1,895Range$875 – $3,400Rent per Sq Ft$2 / $1Sq Ft1,518 / 1,169DOM45 / 4New13Total49
Townhouse
Avg/Median Rent$1,900 / $2,000Range$995 – $3,780Rent per Sq Ft$2 / $2Sq Ft1,220 / 1,220DOM42 / 7New4Total13
Rentals by Bedroom Count
Studio
Avg:$1,355Median:$1,397Range:$1,195 – $1,450PSF:$3 / $3Sq Ft:442 / 460DOM:109 / 71New:0Total:5
1 Beds
Avg:$1,283Median:$1,295Range:$795 – $1,750PSF:$2 / $2Sq Ft:631 / 615DOM:111 / 89New:4Total:60
2 Beds
Avg:$1,560Median:$1,545Range:$875 – $2,500PSF:$2 / $2Sq Ft:962 / 937DOM:49 / 15New:13Total:49
3 Beds
Avg:$2,096Median:$2,000Range:$1,499 – $3,400PSF:$2 / $2Sq Ft:1,744 / 1,250DOM:33 / 7New:7Total:34
4 Beds
Avg:$2,251Median:$2,100Range:$1,695 – $3,780PSF:$1 / $1Sq Ft:1,620 / 1,460DOM:93 / 38New:2Total:15
5 Beds
Avg:$2,195Median:$2,195Range:$2,195 – $2,195PSF:$1 / $1Sq Ft:1,700 / 1,700DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,355 | $1,397 | $1,195 – $1,450 | $3 / $3 | 442 / 460 | 109 / 71 | 0 | 5 |
| 1 Beds | $1,283 | $1,295 | $795 – $1,750 | $2 / $2 | 631 / 615 | 111 / 89 | 4 | 60 |
| 2 Beds | $1,560 | $1,545 | $875 – $2,500 | $2 / $2 | 962 / 937 | 49 / 15 | 13 | 49 |
| 3 Beds | $2,096 | $2,000 | $1,499 – $3,400 | $2 / $2 | 1,744 / 1,250 | 33 / 7 | 7 | 34 |
| 4 Beds | $2,251 | $2,100 | $1,695 – $3,780 | $1 / $1 | 1,620 / 1,460 | 93 / 38 | 2 | 15 |
| 5 Beds | $2,195 | $2,195 | $2,195 – $2,195 | $1 / $1 | 1,700 / 1,700 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$290,000Median DOM:33New:38Total:139
Apr 2026
Median Price:$299,900Median DOM:33New:42Total:140
May 2026
Median Price:$295,000Median DOM:26New:46Total:145
Jun 2026
Median Price:$299,945Median DOM:24New:50Total:143
Jul 2026
Median Price:$299,950Median DOM:26New:42Total:139
Aug 2026
Median Price:$299,900Median DOM:29New:11Total:142
6-Month Rental Trend
Mar 2026
Median Rent:$1,400Median DOM:14New:67Total:178
Apr 2026
Median Rent:$1,399Median DOM:18New:65Total:174
May 2026
Median Rent:$1,495Median DOM:22New:59Total:178
Jun 2026
Median Rent:$1,500Median DOM:25New:56Total:168
Jul 2026
Median Rent:$1,499Median DOM:30New:48Total:167
Aug 2026
Median Rent:$1,500Median DOM:27New:26Total:164
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market lengthened, signaling slower 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.
230052303023047230592306023063230692307523083231032311123112231132311423116231202312423139231402314623150232192322023221232222322323224232252322623227+11 more
← Back to Richmond Metro