ZIP 23229 Housing Market Report
Richmond Metro
Report period: August 2026
23229 Monthly Market Update – August 2026
ZIP 23229 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$490,000
+3.2%
Median DOM (Sales)
14
+7.7%
New Listings (Sales)
6
−84.6%
Median Rent
$2,350
−1.9%
Median DOM (Rental)
7
−50.0%
Total Rental Listings
38
+11.8%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (13 DOM)
- Fastest renting: Single Family (5 DOM)
- Strongest bedroom: 7 Beds ($2,199,900 median)
Sales Market Overview
Median Price
$490,000
+3.2%
Median DOM
14
+7.7%
New Listings
6
−84.6%
Inventory
113
−10.3%
- Average Price: $687,170
- Median Price: $490,000
- Price Range: $245,000 – $2,950,000
- Price per Sq Ft (Avg/Median): $285 / $296
- Square Footage (Avg/Median): 2,389 / 2,149
- Square Footage Range: 827 – 8,140
- Days on Market (Avg/Median): 24 / 14
- Days on Market Range: 2 – 205
- New Listings: 6
- Total Listings: 113
Sales by Property Type
Condo
Avg/Median Price$375,000 / $295,000Range$245,000 – $650,000Price per Sq Ft$277 / $272Sq Ft1,361 / 1,000DOM30 / 24New0Total8
Single Family
Avg/Median Price$708,693 / $490,000Range$285,000 – $2,950,000Price per Sq Ft$285 / $296Sq Ft2,465 / 2,228DOM24 / 13New6Total100
Townhouse
Avg/Median Price$756,170 / $869,900Range$475,000 – $919,000Price per Sq Ft$296 / $315Sq Ft2,518 / 2,764DOM29 / 28New0Total5
Sales by Bedroom Count
2 Beds
Avg:$320,322Median:$295,000Range:$245,000 – $399,999PSF:$290 / $296Sq Ft:1,131 / 983DOM:22 / 13New:0Total:9
3 Beds
Avg:$503,372Median:$425,000Range:$285,000 – $995,000PSF:$299 / $300Sq Ft:1,677 / 1,450DOM:23 / 9New:4Total:46
4 Beds
Avg:$676,339Median:$585,000Range:$354,500 – $1,650,000PSF:$265 / $277Sq Ft:2,537 / 2,324DOM:23 / 19New:0Total:38
5 Beds
Avg:$1,221,269Median:$1,100,000Range:$435,000 – $2,495,000PSF:$303 / $285Sq Ft:3,953 / 3,810DOM:23 / 13New:1Total:13
6 Beds
Avg:$1,305,817Median:$840,000Range:$460,000 – $2,950,000PSF:$244 / $223Sq Ft:4,811 / 3,816DOM:41 / 29New:1Total:6
7 Beds
Avg:$2,199,900Median:$2,199,900Range:$2,199,900 – $2,199,900PSF:$366 / $366Sq Ft:6,006 / 6,006DOM:79 / 79New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $320,322 | $295,000 | $245,000 – $399,999 | $290 / $296 | 1,131 / 983 | 22 / 13 | 0 | 9 |
| 3 Beds | $503,372 | $425,000 | $285,000 – $995,000 | $299 / $300 | 1,677 / 1,450 | 23 / 9 | 4 | 46 |
| 4 Beds | $676,339 | $585,000 | $354,500 – $1,650,000 | $265 / $277 | 2,537 / 2,324 | 23 / 19 | 0 | 38 |
| 5 Beds | $1,221,269 | $1,100,000 | $435,000 – $2,495,000 | $303 / $285 | 3,953 / 3,810 | 23 / 13 | 1 | 13 |
| 6 Beds | $1,305,817 | $840,000 | $460,000 – $2,950,000 | $244 / $223 | 4,811 / 3,816 | 41 / 29 | 1 | 6 |
| 7 Beds | $2,199,900 | $2,199,900 | $2,199,900 – $2,199,900 | $366 / $366 | 6,006 / 6,006 | 79 / 79 | 0 | 1 |
Rental Market Overview
Median Rent
$2,350
−1.9%
Median DOM
7
−50.0%
New Listings
9
Inventory
38
+11.8%
- Average Rent: $2,419
- Median Rent: $2,350
- Rent Range: $1,093 – $5,995
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,617 / 1,452
- Square Footage Range: 300 – 4,453
- Days on Market (Avg/Median): 18 / 7
- Days on Market Range: 1 – 74
- New Listings: 9
- Total Listings: 38
Rentals by Property Type
Apartment
$1,218
Median DOM: 33
Inventory: 4
MoM: −1.9%
Condo
—
Median DOM: —
Inventory: —
MoM: −1.9%
Single Family
$2,400
Median DOM: 5
Inventory: 33
MoM: −1.9%
Townhouse
$2,300
Median DOM: 72
Inventory: 1
MoM: −1.9%
Apartment
Avg/Median Rent$1,330 / $1,218Range$1,093 – $1,595Rent per Sq Ft$2 / $2Sq Ft618 / 657DOM33 / 33New0Total4
Single Family
Avg/Median Rent$2,555 / $2,400Range$1,900 – $5,995Rent per Sq Ft$2 / $2Sq Ft1,748 / 1,508DOM16 / 5New9Total33
Townhouse
Avg/Median Rent$2,300 / $2,300Range$2,300 – $2,300Rent per Sq Ft$2 / $2Sq Ft1,295 / 1,295DOM72 / 72New0Total1
Rentals by Bedroom Count
Studio
Avg:$1,093Median:$1,093Range:$1,093 – $1,093PSF:$4 / $4Sq Ft:300 / 300DOM:—New:0Total:1
1 Beds
Avg:$1,595Median:$1,595Range:$1,595 – $1,595PSF:$2 / $2Sq Ft:657 / 657DOM:33 / 33New:0Total:1
2 Beds
Avg:$1,543Median:$1,415Range:$1,218 – $1,995PSF:$2 / $2Sq Ft:813 / 757DOM:1 / 1New:1Total:3
3 Beds
Avg:$2,234Median:$2,250Range:$1,900 – $2,600PSF:$2 / $2Sq Ft:1,268 / 1,260DOM:18 / 5New:6Total:18
4 Beds
Avg:$2,867Median:$2,500Range:$2,295 – $5,995PSF:$1 / $1Sq Ft:2,170 / 1,728DOM:21 / 11New:2Total:12
5 Beds
Avg:$3,333Median:$3,500Range:$3,000 – $3,500PSF:$1 / $1Sq Ft:3,062 / 3,618DOM:11 / 1New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,093 | $1,093 | $1,093 – $1,093 | $4 / $4 | 300 / 300 | — | 0 | 1 |
| 1 Beds | $1,595 | $1,595 | $1,595 – $1,595 | $2 / $2 | 657 / 657 | 33 / 33 | 0 | 1 |
| 2 Beds | $1,543 | $1,415 | $1,218 – $1,995 | $2 / $2 | 813 / 757 | 1 / 1 | 1 | 3 |
| 3 Beds | $2,234 | $2,250 | $1,900 – $2,600 | $2 / $2 | 1,268 / 1,260 | 18 / 5 | 6 | 18 |
| 4 Beds | $2,867 | $2,500 | $2,295 – $5,995 | $1 / $1 | 2,170 / 1,728 | 21 / 11 | 2 | 12 |
| 5 Beds | $3,333 | $3,500 | $3,000 – $3,500 | $1 / $1 | 3,062 / 3,618 | 11 / 1 | 0 | 3 |
6-Month Sales Trend
Mar 2026
Median Price:$469,900Median DOM:7New:49Total:89
Apr 2026
Median Price:$525,000Median DOM:7New:62Total:126
May 2026
Median Price:$589,000Median DOM:8New:66Total:151
Jun 2026
Median Price:$560,000Median DOM:9New:55Total:151
Jul 2026
Median Price:$475,000Median DOM:13New:39Total:126
Aug 2026
Median Price:$490,000Median DOM:14New:6Total:113
6-Month Rental Trend
Mar 2026
Median Rent:$2,295Median DOM:1New:9Total:22
Apr 2026
Median Rent:$2,300Median DOM:1New:14Total:28
May 2026
Median Rent:$2,400Median DOM:1New:14Total:28
Jun 2026
Median Rent:$2,395Median DOM:5New:17Total:36
Jul 2026
Median Rent:$2,395Median DOM:14New:10Total:34
Aug 2026
Median Rent:$2,350Median DOM:7New:9Total:38
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market lengthened, signaling slower buyer activity. Rental pricing eased, 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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