ZIP 23228 Housing Market Report
Richmond Metro
Report period: August 2026
23228 Monthly Market Update – August 2026
ZIP 23228 · Last updated Aug 9, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$349,900
−0.0%
Median DOM (Sales)
21
+10.5%
New Listings (Sales)
7
−81.1%
Median Rent
$1,950
0.0%
Median DOM (Rental)
23
+9.5%
Total Rental Listings
73
−1.4%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (17 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 4 Beds ($445,000 median)
Sales Market Overview
Median Price
$349,900
−0.0%
Median DOM
21
+10.5%
New Listings
7
−81.1%
Inventory
127
0.0%
- Average Price: $349,703
- Median Price: $349,900
- Price Range: $164,000 – $774,250
- Price per Sq Ft (Avg/Median): $239 / $230
- Square Footage (Avg/Median): 1,517 / 1,440
- Square Footage Range: 711 – 3,158
- Days on Market (Avg/Median): 30 / 21
- Days on Market Range: 2 – 168
- New Listings: 7
- Total Listings: 127
Sales by Property Type
Condo
Avg/Median Price$240,811 / $225,000Range$164,000 – $389,950Price per Sq Ft$207 / $210Sq Ft1,196 / 1,052DOM41 / 31New0Total23
Land
Avg/Median Price$249,900 / $249,900Range$249,900 – $249,900Price per Sq Ft—Sq Ft—DOM—New0Total1
Single Family
Avg/Median Price$382,880 / $375,000Range$165,000 – $774,250Price per Sq Ft$253 / $256Sq Ft1,581 / 1,600DOM26 / 17New6Total85
Townhouse
Avg/Median Price$337,722 / $335,000Range$244,000 – $445,000Price per Sq Ft$215 / $195Sq Ft1,625 / 1,452DOM34 / 35New1Total18
Sales by Bedroom Count
1 Beds
Avg:$164,000Median:$164,000Range:$164,000 – $164,000PSF:$179 / $179Sq Ft:914 / 914DOM:54 / 54New:0Total:1
2 Beds
Avg:$263,988Median:$269,950Range:$186,000 – $390,000PSF:$255 / $231Sq Ft:1,060 / 920DOM:31 / 17New:2Total:25
3 Beds
Avg:$350,146Median:$349,950Range:$165,000 – $599,000PSF:$239 / $235Sq Ft:1,516 / 1,440DOM:29 / 19New:4Total:76
4 Beds
Avg:$441,503Median:$445,000Range:$349,950 – $599,950PSF:$233 / $232Sq Ft:1,931 / 1,919DOM:31 / 21New:1Total:17
5 Beds
Avg:$468,870Median:$408,000Range:$335,000 – $774,250PSF:$207 / $197Sq Ft:2,246 / 1,945DOM:30 / 30New:0Total:7
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $164,000 | $164,000 | $164,000 – $164,000 | $179 / $179 | 914 / 914 | 54 / 54 | 0 | 1 |
| 2 Beds | $263,988 | $269,950 | $186,000 – $390,000 | $255 / $231 | 1,060 / 920 | 31 / 17 | 2 | 25 |
| 3 Beds | $350,146 | $349,950 | $165,000 – $599,000 | $239 / $235 | 1,516 / 1,440 | 29 / 19 | 4 | 76 |
| 4 Beds | $441,503 | $445,000 | $349,950 – $599,950 | $233 / $232 | 1,931 / 1,919 | 31 / 21 | 1 | 17 |
| 5 Beds | $468,870 | $408,000 | $335,000 – $774,250 | $207 / $197 | 2,246 / 1,945 | 30 / 30 | 0 | 7 |
Rental Market Overview
Median Rent
$1,950
0.0%
Median DOM
23
+9.5%
New Listings
10
Inventory
73
−1.4%
- Average Rent: $1,948
- Median Rent: $1,950
- Rent Range: $950 – $2,995
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,322 / 1,263
- Square Footage Range: 510 – 2,500
- Days on Market (Avg/Median): 50 / 23
- Days on Market Range: 1 – 342
- New Listings: 10
- Total Listings: 73
Rentals by Property Type
Apartment
$1,301
Median DOM: 248
Inventory: 13
MoM: 0.0%
Condo
$1,495
Median DOM: 1
Inventory: 6
MoM: 0.0%
Single Family
$2,100
Median DOM: 7
Inventory: 28
MoM: 0.0%
Townhouse
$2,195
Median DOM: 26
Inventory: 25
MoM: 0.0%
Apartment
Avg/Median Rent$1,338 / $1,301Range$1,050 – $1,800Rent per Sq Ft$2 / $2Sq Ft735 / 642DOM209 / 248New0Total13
Condo
Avg/Median Rent$1,542 / $1,495Range$950 – $1,895Rent per Sq Ft$2 / $2Sq Ft944 / 912DOM23 / 1New1Total6
Multi-Family
Avg/Median Rent$1,550 / $1,550Range$1,550 – $1,550Rent per Sq Ft$2 / $2Sq Ft624 / 624DOM23 / 23New0Total1
Single Family
Avg/Median Rent$2,136 / $2,100Range$1,500 – $2,995Rent per Sq Ft$2 / $2Sq Ft1,381 / 1,300DOM14 / 7New5Total28
Townhouse
Avg/Median Rent$2,168 / $2,195Range$1,410 – $2,750Rent per Sq Ft$1 / $1Sq Ft1,674 / 1,550DOM53 / 26New4Total25
Rentals by Bedroom Count
1 Beds
Avg:$1,342Median:$1,301Range:$1,050 – $1,601PSF:$2 / $2Sq Ft:695 / 642DOM:227 / 248New:0Total:12
2 Beds
Avg:$1,636Median:$1,695Range:$950 – $2,100PSF:$2 / $2Sq Ft:1,006 / 923DOM:63 / 32New:2Total:18
3 Beds
Avg:$2,199Median:$2,200Range:$1,650 – $2,750PSF:$1 / $1Sq Ft:1,636 / 1,526DOM:25 / 8New:7Total:37
4 Beds
Avg:$2,548Median:$2,395Range:$2,150 – $2,995PSF:$2 / $2Sq Ft:1,647 / 1,674DOM:16 / 1New:1Total:6
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,342 | $1,301 | $1,050 – $1,601 | $2 / $2 | 695 / 642 | 227 / 248 | 0 | 12 |
| 2 Beds | $1,636 | $1,695 | $950 – $2,100 | $2 / $2 | 1,006 / 923 | 63 / 32 | 2 | 18 |
| 3 Beds | $2,199 | $2,200 | $1,650 – $2,750 | $1 / $1 | 1,636 / 1,526 | 25 / 8 | 7 | 37 |
| 4 Beds | $2,548 | $2,395 | $2,150 – $2,995 | $2 / $2 | 1,647 / 1,674 | 16 / 1 | 1 | 6 |
6-Month Sales Trend
Mar 2026
Median Price:$349,000Median DOM:15New:31Total:98
Apr 2026
Median Price:$329,990Median DOM:7New:37Total:100
May 2026
Median Price:$350,000Median DOM:8New:60Total:124
Jun 2026
Median Price:$360,000Median DOM:11New:47Total:138
Jul 2026
Median Price:$349,950Median DOM:19New:37Total:127
Aug 2026
Median Price:$349,900Median DOM:21New:7Total:127
6-Month Rental Trend
Mar 2026
Median Rent:$1,900Median DOM:15New:23Total:70
Apr 2026
Median Rent:$1,950Median DOM:11New:25Total:74
May 2026
Median Rent:$1,850Median DOM:23New:18Total:71
Jun 2026
Median Rent:$1,850Median DOM:14New:35Total:80
Jul 2026
Median Rent:$1,950Median DOM:21New:24Total:74
Aug 2026
Median Rent:$1,950Median DOM:23New:10Total:73
Key Market Takeaways
Median sale prices softened this month while inventory remained stable. Days on market lengthened, signaling slower 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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