ZIP 23227 Housing Market Report
Richmond Metro
Report period: August 2026
23227 Monthly Market Update – August 2026
ZIP 23227 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$373,990
−0.3%
Median DOM (Sales)
19
+11.8%
New Listings (Sales)
8
−71.4%
Median Rent
$1,350
+12.5%
Median DOM (Rental)
1
0.0%
Total Rental Listings
74
−2.6%
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: 4 Beds ($424,900 median)
Sales Market Overview
Median Price
$373,990
−0.3%
Median DOM
19
+11.8%
New Listings
8
−71.4%
Inventory
81
−5.8%
- Average Price: $395,547
- Median Price: $373,990
- Price Range: $9,950 – $775,000
- Price per Sq Ft (Avg/Median): $241 / $235
- Square Footage (Avg/Median): 1,709 / 1,590
- Square Footage Range: 730 – 4,403
- Days on Market (Avg/Median): 38 / 19
- Days on Market Range: 2 – 210
- New Listings: 8
- Total Listings: 81
Sales by Property Type
Condo
Avg/Median Price$264,850 / $155,900Range$139,500 – $389,000Price per Sq Ft$168 / $155Sq Ft1,658 / 885DOM39 / 32New0Total4
Land
Avg/Median Price$242,475 / $9,950Range$9,950 – $475,000Price per Sq Ft—Sq Ft—DOM206 / 202New0Total2
Multi-Family
Avg/Median Price$424,900 / $424,900Range$424,900 – $424,900Price per Sq Ft$215 / $215Sq Ft1,974 / 1,974DOM5 / 5New0Total1
Single Family
Avg/Median Price$444,558 / $399,950Range$199,000 – $775,000Price per Sq Ft$258 / $255Sq Ft1,809 / 1,768DOM26 / 15New5Total44
Townhouse
Avg/Median Price$350,317 / $362,065Range$195,000 – $409,000Price per Sq Ft$225 / $223Sq Ft1,559 / 1,520DOM44 / 39New3Total30
Sales by Bedroom Count
1 Beds
Avg:$139,500Median:$139,500Range:$139,500 – $139,500PSF:$191 / $191Sq Ft:730 / 730DOM:54 / 54New:0Total:1
2 Beds
Avg:$282,642Median:$275,000Range:$155,900 – $350,000PSF:$269 / $242Sq Ft:1,064 / 996DOM:24 / 15New:2Total:6
3 Beds
Avg:$402,486Median:$374,990Range:$195,000 – $775,000PSF:$244 / $241Sq Ft:1,664 / 1,525DOM:32 / 19New:6Total:55
4 Beds
Avg:$453,335Median:$424,900Range:$344,475 – $629,950PSF:$236 / $215Sq Ft:1,953 / 1,920DOM:36 / 24New:0Total:13
5 Beds
Avg:$422,225Median:$349,900Range:$349,000 – $599,999PSF:$174 / $146Sq Ft:2,745 / 2,392DOM:48 / 31New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $139,500 | $139,500 | $139,500 – $139,500 | $191 / $191 | 730 / 730 | 54 / 54 | 0 | 1 |
| 2 Beds | $282,642 | $275,000 | $155,900 – $350,000 | $269 / $242 | 1,064 / 996 | 24 / 15 | 2 | 6 |
| 3 Beds | $402,486 | $374,990 | $195,000 – $775,000 | $244 / $241 | 1,664 / 1,525 | 32 / 19 | 6 | 55 |
| 4 Beds | $453,335 | $424,900 | $344,475 – $629,950 | $236 / $215 | 1,953 / 1,920 | 36 / 24 | 0 | 13 |
| 5 Beds | $422,225 | $349,900 | $349,000 – $599,999 | $174 / $146 | 2,745 / 2,392 | 48 / 31 | 0 | 4 |
Rental Market Overview
Median Rent
$1,350
+12.5%
Median DOM
1
0.0%
New Listings
23
Inventory
74
−2.6%
- Average Rent: $1,647
- Median Rent: $1,350
- Rent Range: $675 – $3,200
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,239 / 997
- Square Footage Range: 580 – 2,700
- Days on Market (Avg/Median): 19 / 1
- Days on Market Range: 1 – 180
- New Listings: 23
- Total Listings: 74
Rentals by Property Type
Apartment
$1,050
Median DOM: 21
Inventory: 18
MoM: +12.5%
Condo
$1,095
Median DOM: 1
Inventory: 25
MoM: +12.5%
Single Family
$2,200
Median DOM: 1
Inventory: 19
MoM: +12.5%
Townhouse
$2,350
Median DOM: 8
Inventory: 12
MoM: +12.5%
Apartment
Avg/Median Rent$1,150 / $1,050Range$675 – $1,895Rent per Sq Ft$2 / $2Sq Ft743 / 724DOM43 / 21New3Total18
Condo
Avg/Median Rent$1,306 / $1,095Range$875 – $2,850Rent per Sq Ft$1 / $1Sq Ft989 / 897DOM5 / 1New11Total25
Single Family
Avg/Median Rent$2,083 / $2,200Range$900 – $3,200Rent per Sq Ft$2 / $2Sq Ft1,473 / 1,344DOM18 / 1New6Total19
Townhouse
Avg/Median Rent$2,412 / $2,350Range$2,195 – $2,700Rent per Sq Ft$1 / $1Sq Ft1,942 / 1,600DOM26 / 8New3Total12
Rentals by Bedroom Count
1 Beds
Avg:$1,048Median:$1,025Range:$675 – $1,607PSF:$1 / $1Sq Ft:831 / 726DOM:19 / 1New:9Total:30
2 Beds
Avg:$1,459Median:$1,295Range:$1,095 – $2,210PSF:$1 / $1Sq Ft:1,068 / 950DOM:14 / 1New:8Total:17
3 Beds
Avg:$2,309Median:$2,350Range:$1,775 – $2,700PSF:$1 / $2Sq Ft:1,642 / 1,500DOM:28 / 15New:5Total:20
4 Beds
Avg:$2,779Median:$2,850Range:$2,400 – $3,200PSF:$2 / $2Sq Ft:1,847 / 1,797DOM:10 / 1New:1Total:7
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,048 | $1,025 | $675 – $1,607 | $1 / $1 | 831 / 726 | 19 / 1 | 9 | 30 |
| 2 Beds | $1,459 | $1,295 | $1,095 – $2,210 | $1 / $1 | 1,068 / 950 | 14 / 1 | 8 | 17 |
| 3 Beds | $2,309 | $2,350 | $1,775 – $2,700 | $1 / $2 | 1,642 / 1,500 | 28 / 15 | 5 | 20 |
| 4 Beds | $2,779 | $2,850 | $2,400 – $3,200 | $2 / $2 | 1,847 / 1,797 | 10 / 1 | 1 | 7 |
6-Month Sales Trend
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:11New:41Total:96
Jun 2026
Median Price:$375,000Median DOM:16New:23Total:96
Jul 2026
Median Price:$375,000Median DOM:17New:28Total:86
Aug 2026
Median Price:$373,990Median DOM:19New:8Total:81
6-Month Rental Trend
Mar 2026
Median Rent:$1,295Median DOM:1New:45Total:87
Apr 2026
Median Rent:$1,200Median DOM:1New:51Total:94
May 2026
Median Rent:$1,195Median DOM:1New:44Total:96
Jun 2026
Median Rent:$1,200Median DOM:1New:46Total:89
Jul 2026
Median Rent:$1,200Median DOM:1New:26Total:76
Aug 2026
Median Rent:$1,350Median DOM:1New:23Total:74
Key Market Takeaways
Median sale prices softened this month while inventory compressed. 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.
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