ZIP 23228 Housing Market Report
Richmond Metro
Report period: May 2026
23228 Monthly Market Update – May 2026
ZIP 23228 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$349,000
+5.8%
Median DOM (Sales)
7
0.0%
New Listings (Sales)
15
−59.5%
Median Rent
$1,950
0.0%
Median DOM (Rental)
14
+27.3%
Total Rental Listings
81
+9.5%
Month-over-Month Movement
Median sale prices moved higher. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (6 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 5 Beds ($465,000 median)
Sales Market Overview
Median Price
$349,000
+5.8%
Median DOM
7
0.0%
New Listings
15
−59.5%
Inventory
111
+11.0%
- Average Price: $342,984
- Median Price: $349,000
- Price Range: $9,970 – $724,000
- Price per Sq Ft (Avg/Median): $236 / $235
- Square Footage (Avg/Median): 1,502 / 1,437
- Square Footage Range: 677 – 3,295
- Days on Market (Avg/Median): 27 / 7
- Days on Market Range: 2 – 284
- New Listings: 15
- Total Listings: 111
Sales by Property Type
Condo
Avg/Median Price$232,466 / $200,000Range$125,000 – $416,999Price per Sq Ft$190 / $170Sq Ft1,264 / 923DOM32 / 22New2Total19
Land
Avg/Median Price$129,935 / $9,970Range$9,970 – $249,900Price per Sq Ft—Sq Ft—DOM234 / 184New0Total2
Single Family
Avg/Median Price$388,527 / $354,900Range$249,900 – $724,000Price per Sq Ft$253 / $247Sq Ft1,590 / 1,511DOM21 / 6New10Total72
Townhouse
Avg/Median Price$301,144 / $269,950Range$189,000 – $450,000Price per Sq Ft$217 / $221Sq Ft1,401 / 1,160DOM24 / 16New3Total18
Sales by Bedroom Count
Studio
Avg:$255,000Median:$255,000Range:$255,000 – $255,000PSF:$223 / $223Sq Ft:1,144 / 1,144DOM:33 / 33New:0Total:1
1 Beds
Avg:$154,925Median:$149,950Range:$149,950 – $159,900PSF:$170 / $164Sq Ft:914 / 914DOM:41 / 22New:0Total:2
2 Beds
Avg:$236,447Median:$229,900Range:$125,000 – $349,950PSF:$227 / $230Sq Ft:1,053 / 992DOM:19 / 8New:2Total:19
3 Beds
Avg:$357,304Median:$349,950Range:$150,000 – $649,950PSF:$245 / $240Sq Ft:1,494 / 1,450DOM:21 / 7New:8Total:68
4 Beds
Avg:$444,019Median:$415,000Range:$250,000 – $724,000PSF:$221 / $230Sq Ft:2,044 / 1,849DOM:35 / 5New:5Total:18
5 Beds
Avg:$465,000Median:$465,000Range:$465,000 – $465,000PSF:$199 / $199Sq Ft:2,332 / 2,332DOM:5 / 5New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $255,000 | $255,000 | $255,000 – $255,000 | $223 / $223 | 1,144 / 1,144 | 33 / 33 | 0 | 1 |
| 1 Beds | $154,925 | $149,950 | $149,950 – $159,900 | $170 / $164 | 914 / 914 | 41 / 22 | 0 | 2 |
| 2 Beds | $236,447 | $229,900 | $125,000 – $349,950 | $227 / $230 | 1,053 / 992 | 19 / 8 | 2 | 19 |
| 3 Beds | $357,304 | $349,950 | $150,000 – $649,950 | $245 / $240 | 1,494 / 1,450 | 21 / 7 | 8 | 68 |
| 4 Beds | $444,019 | $415,000 | $250,000 – $724,000 | $221 / $230 | 2,044 / 1,849 | 35 / 5 | 5 | 18 |
| 5 Beds | $465,000 | $465,000 | $465,000 – $465,000 | $199 / $199 | 2,332 / 2,332 | 5 / 5 | 0 | 1 |
Rental Market Overview
Median Rent
$1,950
0.0%
Median DOM
14
+27.3%
New Listings
12
Inventory
81
+9.5%
- Average Rent: $1,976
- Median Rent: $1,950
- Rent Range: $978 – $3,950
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,326 / 1,200
- Square Footage Range: 288 – 2,769
- Days on Market (Avg/Median): 36 / 14
- Days on Market Range: 1 – 251
- New Listings: 12
- Total Listings: 81
Rentals by Property Type
Apartment
$1,305
Median DOM: 157
Inventory: 16
MoM: 0.0%
Condo
$2,095
Median DOM: 5
Inventory: 7
MoM: 0.0%
Single Family
$1,975
Median DOM: 1
Inventory: 32
MoM: 0.0%
Townhouse
$2,000
Median DOM: 28
Inventory: 26
MoM: 0.0%
Apartment
Avg/Median Rent$1,358 / $1,305Range$978 – $1,900Rent per Sq Ft$2 / $2Sq Ft779 / 772DOM139 / 157New0Total16
Condo
Avg/Median Rent$2,291 / $2,095Range$1,450 – $3,950Rent per Sq Ft$2 / $2Sq Ft1,314 / 963DOM16 / 5New3Total7
Single Family
Avg/Median Rent$2,127 / $1,975Range$1,550 – $2,995Rent per Sq Ft$2 / $2Sq Ft1,420 / 1,350DOM10 / 1New7Total32
Townhouse
Avg/Median Rent$2,087 / $2,000Range$1,410 – $2,695Rent per Sq Ft$1 / $1Sq Ft1,537 / 1,440DOM36 / 28New2Total26
Rentals by Bedroom Count
Studio
Avg:$1,490Median:$1,230Range:$1,230 – $1,750PSF:$3 / $2Sq Ft:504 / 288DOM:88 / 44New:0Total:2
1 Beds
Avg:$1,362Median:$1,338Range:$978 – $1,932PSF:$2 / $2Sq Ft:726 / 700DOM:181 / 157New:0Total:11
2 Beds
Avg:$1,844Median:$1,750Range:$1,095 – $3,950PSF:$2 / $2Sq Ft:1,069 / 1,090DOM:29 / 11New:7Total:24
3 Beds
Avg:$2,187Median:$2,000Range:$1,775 – $2,849PSF:$1 / $1Sq Ft:1,613 / 1,452DOM:26 / 14New:3Total:37
4 Beds
Avg:$2,326Median:$2,295Range:$1,950 – $2,800PSF:$1 / $1Sq Ft:1,802 / 1,680DOM:10 / 1New:2Total:6
5 Beds
Avg:$2,995Median:$2,995Range:$2,995 – $2,995PSF:$1 / $1Sq Ft:2,290 / 2,290DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,490 | $1,230 | $1,230 – $1,750 | $3 / $2 | 504 / 288 | 88 / 44 | 0 | 2 |
| 1 Beds | $1,362 | $1,338 | $978 – $1,932 | $2 / $2 | 726 / 700 | 181 / 157 | 0 | 11 |
| 2 Beds | $1,844 | $1,750 | $1,095 – $3,950 | $2 / $2 | 1,069 / 1,090 | 29 / 11 | 7 | 24 |
| 3 Beds | $2,187 | $2,000 | $1,775 – $2,849 | $1 / $1 | 1,613 / 1,452 | 26 / 14 | 3 | 37 |
| 4 Beds | $2,326 | $2,295 | $1,950 – $2,800 | $1 / $1 | 1,802 / 1,680 | 10 / 1 | 2 | 6 |
| 5 Beds | $2,995 | $2,995 | $2,995 – $2,995 | $1 / $1 | 2,290 / 2,290 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$339,950Median DOM:35New:20Total:95
Jan 2026
Median Price:$350,000Median DOM:28New:33Total:91
Feb 2026
Median Price:$339,950Median DOM:16New:33Total:108
Mar 2026
Median Price:$349,000Median DOM:15New:31Total:98
Apr 2026
Median Price:$329,990Median DOM:7New:37Total:100
May 2026
Median Price:$349,000Median DOM:7New:15Total:111
6-Month Rental Trend
Dec 2025
Median Rent:$1,795Median DOM:16New:20Total:56
Jan 2026
Median Rent:$1,850Median DOM:14New:26Total:65
Feb 2026
Median Rent:$1,895Median DOM:12New:27Total:78
Mar 2026
Median Rent:$1,900Median DOM:15New:23Total:70
Apr 2026
Median Rent:$1,950Median DOM:11New:25Total:74
May 2026
Median Rent:$1,950Median DOM:14New:12Total:81
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market were unchanged, signaling steady buyer activity. Rental pricing remained stable, while total rental inventory increased.
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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