ZIP 23229 Housing Market Report
Richmond Metro
Report period: May 2026
23229 Monthly Market Update – May 2026
ZIP 23229 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$559,000
+6.5%
Median DOM (Sales)
7
0.0%
New Listings (Sales)
21
−66.1%
Median Rent
$2,300
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
28
0.0%
Month-over-Month Movement
Median sale prices moved higher. Rents were stable.
What's Moving Fastest
- Fastest selling: Single Family (6 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 6 Beds ($2,050,000 median)
Sales Market Overview
Median Price
$559,000
+6.5%
Median DOM
7
0.0%
New Listings
21
−66.1%
Inventory
147
+16.7%
- Average Price: $791,671
- Median Price: $559,000
- Price Range: $260,000 – $5,995,000
- Price per Sq Ft (Avg/Median): $294 / $298
- Square Footage (Avg/Median): 2,581 / 2,228
- Square Footage Range: 925 – 12,578
- Days on Market (Avg/Median): 14 / 7
- Days on Market Range: 2 – 152
- New Listings: 21
- Total Listings: 147
Sales by Property Type
Condo
Avg/Median Price$562,489 / $560,000Range$260,000 – $929,999Price per Sq Ft$277 / $265Sq Ft2,051 / 2,317DOM20 / 8New1Total9
Single Family
Avg/Median Price$815,139 / $550,000Range$289,000 – $5,995,000Price per Sq Ft$295 / $299Sq Ft2,637 / 2,228DOM14 / 6New19Total131
Townhouse
Avg/Median Price$647,136 / $550,000Range$415,000 – $950,000Price per Sq Ft$286 / $282Sq Ft2,223 / 1,955DOM22 / 9New1Total7
Sales by Bedroom Count
2 Beds
Avg:$375,567Median:$299,950Range:$260,000 – $749,000PSF:$291 / $285Sq Ft:1,277 / 980DOM:12 / 3New:1Total:6
3 Beds
Avg:$501,127Median:$429,950Range:$289,000 – $965,000PSF:$290 / $290Sq Ft:1,739 / 1,621DOM:16 / 6New:9Total:64
4 Beds
Avg:$764,255Median:$659,000Range:$329,950 – $2,100,000PSF:$280 / $280Sq Ft:2,651 / 2,548DOM:11 / 8New:6Total:48
5 Beds
Avg:$1,346,872Median:$1,259,900Range:$469,000 – $2,900,000PSF:$322 / $315Sq Ft:4,104 / 4,136DOM:17 / 9New:3Total:25
6 Beds
Avg:$2,923,500Median:$2,050,000Range:$699,000 – $5,995,000PSF:$340 / $326Sq Ft:7,645 / 6,279DOM:26 / 3New:2Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $375,567 | $299,950 | $260,000 – $749,000 | $291 / $285 | 1,277 / 980 | 12 / 3 | 1 | 6 |
| 3 Beds | $501,127 | $429,950 | $289,000 – $965,000 | $290 / $290 | 1,739 / 1,621 | 16 / 6 | 9 | 64 |
| 4 Beds | $764,255 | $659,000 | $329,950 – $2,100,000 | $280 / $280 | 2,651 / 2,548 | 11 / 8 | 6 | 48 |
| 5 Beds | $1,346,872 | $1,259,900 | $469,000 – $2,900,000 | $322 / $315 | 4,104 / 4,136 | 17 / 9 | 3 | 25 |
| 6 Beds | $2,923,500 | $2,050,000 | $699,000 – $5,995,000 | $340 / $326 | 7,645 / 6,279 | 26 / 3 | 2 | 4 |
Rental Market Overview
Median Rent
$2,300
0.0%
Median DOM
1
0.0%
New Listings
9
Inventory
28
0.0%
- Average Rent: $2,318
- Median Rent: $2,300
- Rent Range: $1,056 – $3,800
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,479 / 1,494
- Square Footage Range: 300 – 2,774
- Days on Market (Avg/Median): 13 / 1
- Days on Market Range: 1 – 113
- New Listings: 9
- Total Listings: 28
Rentals by Property Type
Apartment
$1,314
Median DOM: —
Inventory: 3
MoM: 0.0%
Condo
$3,200
Median DOM: 4
Inventory: 1
MoM: 0.0%
Single Family
$2,395
Median DOM: 1
Inventory: 23
MoM: 0.0%
Townhouse
$2,300
Median DOM: 6
Inventory: 1
MoM: 0.0%
Apartment
Avg/Median Rent$1,249 / $1,314Range$1,056 – $1,378Rent per Sq Ft$2 / $2Sq Ft569 / 650DOM—New0Total3
Condo
Avg/Median Rent$3,200 / $3,200Range$3,200 – $3,200Rent per Sq Ft$1 / $1Sq Ft2,400 / 2,400DOM4 / 4New1Total1
Single Family
Avg/Median Rent$2,420 / $2,395Range$1,595 – $3,800Rent per Sq Ft$2 / $2Sq Ft1,566 / 1,528DOM14 / 1New7Total23
Townhouse
Avg/Median Rent$2,300 / $2,300Range$2,300 – $2,300Rent per Sq Ft$2 / $2Sq Ft1,295 / 1,295DOM6 / 6New1Total1
Rentals by Bedroom Count
Studio
Avg:$1,056Median:$1,056Range:$1,056 – $1,056PSF:$4 / $4Sq Ft:300 / 300DOM:—New:0Total:1
1 Beds
Avg:$1,378Median:$1,378Range:$1,378 – $1,378PSF:$2 / $2Sq Ft:650 / 650DOM:—New:0Total:1
2 Beds
Avg:$2,052Median:$1,595Range:$1,314 – $3,200PSF:$2 / $2Sq Ft:1,213 / 770DOM:5 / 4New:1Total:4
3 Beds
Avg:$2,356Median:$2,300Range:$1,995 – $3,600PSF:$2 / $2Sq Ft:1,431 / 1,445DOM:13 / 6New:4Total:13
4 Beds
Avg:$2,654Median:$2,500Range:$2,195 – $3,800PSF:$1 / $2Sq Ft:1,937 / 1,705DOM:16 / 1New:4Total:8
5 Beds
Avg:$2,395Median:$2,395Range:$2,395 – $2,395PSF:$2 / $2Sq Ft:1,528 / 1,528DOM:6 / 6New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,056 | $1,056 | $1,056 – $1,056 | $4 / $4 | 300 / 300 | — | 0 | 1 |
| 1 Beds | $1,378 | $1,378 | $1,378 – $1,378 | $2 / $2 | 650 / 650 | — | 0 | 1 |
| 2 Beds | $2,052 | $1,595 | $1,314 – $3,200 | $2 / $2 | 1,213 / 770 | 5 / 4 | 1 | 4 |
| 3 Beds | $2,356 | $2,300 | $1,995 – $3,600 | $2 / $2 | 1,431 / 1,445 | 13 / 6 | 4 | 13 |
| 4 Beds | $2,654 | $2,500 | $2,195 – $3,800 | $1 / $2 | 1,937 / 1,705 | 16 / 1 | 4 | 8 |
| 5 Beds | $2,395 | $2,395 | $2,395 – $2,395 | $2 / $2 | 1,528 / 1,528 | 6 / 6 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$475,000Median DOM:36New:10Total:68
Jan 2026
Median Price:$450,000Median DOM:9New:27Total:57
Feb 2026
Median Price:$450,000Median DOM:9New:23Total:62
Mar 2026
Median Price:$469,900Median DOM:7New:49Total:89
Apr 2026
Median Price:$525,000Median DOM:7New:62Total:126
May 2026
Median Price:$559,000Median DOM:7New:21Total:147
6-Month Rental Trend
Dec 2025
Median Rent:$2,225Median DOM:36New:7Total:22
Jan 2026
Median Rent:$2,200Median DOM:11New:9Total:24
Feb 2026
Median Rent:$2,200Median DOM:2New:13Total:26
Mar 2026
Median Rent:$2,295Median DOM:1New:9Total:22
Apr 2026
Median Rent:$2,300Median DOM:1New:14Total:28
May 2026
Median Rent:$2,300Median DOM:1New:9Total:28
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 was flat.
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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