ZIP 23227 Housing Market Report
Richmond Metro
Report period: May 2026
23227 Monthly Market Update – May 2026
ZIP 23227 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$379,990
+0.5%
Median DOM (Sales)
12
−25.0%
New Listings (Sales)
10
−70.6%
Median Rent
$1,200
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
93
−1.1%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (7 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($595,000 median)
Sales Market Overview
Median Price
$379,990
+0.5%
Median DOM
12
−25.0%
New Listings
10
−70.6%
Inventory
96
−5.9%
- Average Price: $440,192
- Median Price: $379,990
- Price Range: $9,950 – $1,449,000
- Price per Sq Ft (Avg/Median): $244 / $240
- Square Footage (Avg/Median): 1,863 / 1,608
- Square Footage Range: 730 – 4,724
- Days on Market (Avg/Median): 27 / 12
- Days on Market Range: 1 – 360
- New Listings: 10
- Total Listings: 96
Sales by Property Type
Condo
Avg/Median Price$324,908 / $175,900Range$129,900 – $634,700Price per Sq Ft$230 / $199Sq Ft1,310 / 885DOM47 / 23New0Total6
Land
Avg/Median Price$9,950 / $9,950Range$9,950 – $9,950Price per Sq Ft—Sq Ft—DOM111 / 111New0Total1
Multi-Family
Avg/Median Price$359,900 / $359,900Range$359,900 – $359,900Price per Sq Ft$156 / $156Sq Ft2,306 / 2,306DOM12 / 12New0Total1
Single Family
Avg/Median Price$503,177 / $449,000Range$249,000 – $1,449,000Price per Sq Ft$255 / $260Sq Ft2,068 / 1,710DOM17 / 7New4Total58
Townhouse
Avg/Median Price$358,496 / $357,875Range$135,000 – $408,990Price per Sq Ft$229 / $231Sq Ft1,569 / 1,520DOM41 / 27New6Total30
Sales by Bedroom Count
1 Beds
Avg:$132,450Median:$129,900Range:$129,900 – $135,000PSF:$181 / $178Sq Ft:730 / 730DOM:17 / 11New:0Total:2
2 Beds
Avg:$352,864Median:$347,990Range:$175,900 – $525,000PSF:$280 / $242Sq Ft:1,286 / 1,474DOM:40 / 7New:0Total:9
3 Beds
Avg:$399,996Median:$373,990Range:$135,000 – $750,000PSF:$250 / $244Sq Ft:1,630 / 1,520DOM:28 / 19New:6Total:50
4 Beds
Avg:$533,848Median:$450,000Range:$249,000 – $1,449,000PSF:$234 / $220Sq Ft:2,311 / 2,035DOM:23 / 10New:3Total:29
5 Beds
Avg:$665,280Median:$595,000Range:$359,900 – $1,375,000PSF:$201 / $159Sq Ft:3,171 / 2,670DOM:8 / 7New:1Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $132,450 | $129,900 | $129,900 – $135,000 | $181 / $178 | 730 / 730 | 17 / 11 | 0 | 2 |
| 2 Beds | $352,864 | $347,990 | $175,900 – $525,000 | $280 / $242 | 1,286 / 1,474 | 40 / 7 | 0 | 9 |
| 3 Beds | $399,996 | $373,990 | $135,000 – $750,000 | $250 / $244 | 1,630 / 1,520 | 28 / 19 | 6 | 50 |
| 4 Beds | $533,848 | $450,000 | $249,000 – $1,449,000 | $234 / $220 | 2,311 / 2,035 | 23 / 10 | 3 | 29 |
| 5 Beds | $665,280 | $595,000 | $359,900 – $1,375,000 | $201 / $159 | 3,171 / 2,670 | 8 / 7 | 1 | 5 |
Rental Market Overview
Median Rent
$1,200
0.0%
Median DOM
1
0.0%
New Listings
29
Inventory
93
−1.1%
- Average Rent: $1,506
- Median Rent: $1,200
- Rent Range: $595 – $3,200
- Rent per Sq Ft (Avg/Median): $2 / $1
- Square Footage (Avg/Median): 1,088 / 897
- Square Footage Range: 400 – 2,995
- Days on Market (Avg/Median): 29 / 1
- Days on Market Range: 1 – 323
- New Listings: 29
- Total Listings: 93
Rentals by Property Type
Apartment
$1,150
Median DOM: 29
Inventory: 30
MoM: 0.0%
Condo
$1,095
Median DOM: 1
Inventory: 35
MoM: 0.0%
Single Family
$2,195
Median DOM: 1
Inventory: 23
MoM: 0.0%
Townhouse
$2,250
Median DOM: 47
Inventory: 4
MoM: 0.0%
Apartment
Avg/Median Rent$1,232 / $1,150Range$595 – $1,995Rent per Sq Ft$2 / $1Sq Ft745 / 738DOM78 / 29New3Total30
Condo
Avg/Median Rent$1,235 / $1,095Range$595 – $2,850Rent per Sq Ft$1 / $1Sq Ft923 / 872DOM3 / 1New19Total35
Multi-Family
Avg/Median Rent$2,350 / $2,350Range$2,350 – $2,350Rent per Sq Ft$2 / $2Sq Ft1,500 / 1,500DOM17 / 17New0Total1
Single Family
Avg/Median Rent$2,128 / $2,195Range$900 – $3,200Rent per Sq Ft$2 / $2Sq Ft1,716 / 1,797DOM12 / 1New7Total23
Townhouse
Avg/Median Rent$2,149 / $2,250Range$1,595 – $2,450Rent per Sq Ft$1 / $1Sq Ft1,454 / 1,524DOM59 / 47New0Total4
Rentals by Bedroom Count
Studio
Avg:$595Median:$595Range:$595 – $595PSF:$1 / $1Sq Ft:400 / 400DOM:9 / 13New:1Total:3
1 Beds
Avg:$1,076Median:$1,065Range:$785 – $1,989PSF:$2 / $1Sq Ft:787 / 699DOM:26 / 1New:10Total:32
2 Beds
Avg:$1,283Median:$1,200Range:$900 – $1,995PSF:$1 / $1Sq Ft:867 / 850DOM:42 / 1New:11Total:34
3 Beds
Avg:$2,197Median:$2,250Range:$1,450 – $2,695PSF:$2 / $1Sq Ft:1,518 / 1,524DOM:19 / 7New:4Total:14
4 Beds
Avg:$2,950Median:$2,850Range:$2,800 – $3,200PSF:$1 / $2Sq Ft:2,026 / 1,797DOM:16 / 1New:3Total:10
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $595 | $595 | $595 – $595 | $1 / $1 | 400 / 400 | 9 / 13 | 1 | 3 |
| 1 Beds | $1,076 | $1,065 | $785 – $1,989 | $2 / $1 | 787 / 699 | 26 / 1 | 10 | 32 |
| 2 Beds | $1,283 | $1,200 | $900 – $1,995 | $1 / $1 | 867 / 850 | 42 / 1 | 11 | 34 |
| 3 Beds | $2,197 | $2,250 | $1,450 – $2,695 | $2 / $1 | 1,518 / 1,524 | 19 / 7 | 4 | 14 |
| 4 Beds | $2,950 | $2,850 | $2,800 – $3,200 | $1 / $2 | 2,026 / 1,797 | 16 / 1 | 3 | 10 |
6-Month Sales Trend
Dec 2025
Median Price:$379,900Median DOM:40New:10Total:84
Jan 2026
Median Price:$378,990Median DOM:33New:28Total:74
Feb 2026
Median Price:$378,990Median DOM:15New:32Total:89
Mar 2026
Median Price:$379,500Median DOM:17New:39Total:97
Apr 2026
Median Price:$377,990Median DOM:16New:34Total:102
May 2026
Median Price:$379,990Median DOM:12New:10Total:96
6-Month Rental Trend
Dec 2025
Median Rent:$1,350Median DOM:1New:35Total:68
Jan 2026
Median Rent:$1,350Median DOM:1New:37Total:71
Feb 2026
Median Rent:$1,295Median DOM:1New:43Total:76
Mar 2026
Median Rent:$1,295Median DOM:1New:45Total:87
Apr 2026
Median Rent:$1,200Median DOM:1New:51Total:94
May 2026
Median Rent:$1,200Median DOM:1New:29Total:93
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market declined, signaling improving 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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