ZIP 23231 Housing Market Report
Richmond Metro
Report period: August 2026
23231 Monthly Market Update – August 2026
ZIP 23231 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$368,500
0.0%
Median DOM (Sales)
31
+14.8%
New Listings (Sales)
17
−70.7%
Median Rent
$1,495
+0.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
77
−2.5%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (27 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($449,900 median)
Sales Market Overview
Median Price
$368,500
0.0%
Median DOM
31
+14.8%
New Listings
17
−70.7%
Inventory
182
+5.2%
- Average Price: $404,573
- Median Price: $368,500
- Price Range: $30,000 – $2,500,000
- Price per Sq Ft (Avg/Median): $238 / $240
- Square Footage (Avg/Median): 1,834 / 1,688
- Square Footage Range: 688 – 6,722
- Days on Market (Avg/Median): 49 / 31
- Days on Market Range: 2 – 286
- New Listings: 17
- Total Listings: 182
Sales by Property Type
Condo
Avg/Median Price$458,652 / $424,950Range$285,900 – $865,000Price per Sq Ft$295 / $278Sq Ft1,626 / 1,688DOM88 / 88New1Total15
Land
Avg/Median Price$150,975 / $99,950Range$30,000 – $700,000Price per Sq Ft—Sq Ft—DOM87 / 33New0Total14
Single Family
Avg/Median Price$414,522 / $370,000Range$145,000 – $2,500,000Price per Sq Ft$231 / $230Sq Ft1,844 / 1,653DOM42 / 27New15Total138
Townhouse
Avg/Median Price$495,656 / $550,000Range$315,000 – $670,000Price per Sq Ft$250 / $265Sq Ft1,952 / 1,974DOM58 / 43New1Total15
Sales by Bedroom Count
1 Beds
Avg:$324,780Median:$315,000Range:$285,900 – $400,000PSF:$337 / $344Sq Ft:987 / 893DOM:90 / 74New:0Total:5
2 Beds
Avg:$355,107Median:$348,500Range:$145,000 – $865,000PSF:$262 / $270Sq Ft:1,335 / 1,363DOM:53 / 39New:1Total:21
3 Beds
Avg:$393,197Median:$349,950Range:$180,000 – $1,499,000PSF:$247 / $244Sq Ft:1,602 / 1,522DOM:42 / 31New:7Total:85
4 Beds
Avg:$471,809Median:$435,000Range:$249,000 – $969,000PSF:$212 / $212Sq Ft:2,273 / 2,068DOM:46 / 19New:8Total:45
5 Beds
Avg:$689,955Median:$449,900Range:$374,950 – $2,500,000PSF:$201 / $182Sq Ft:3,128 / 2,614DOM:64 / 34New:1Total:10
6 Beds
Avg:$442,450Median:$409,900Range:$409,900 – $475,000PSF:$164 / $155Sq Ft:2,717 / 2,377DOM:79 / 13New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $324,780 | $315,000 | $285,900 – $400,000 | $337 / $344 | 987 / 893 | 90 / 74 | 0 | 5 |
| 2 Beds | $355,107 | $348,500 | $145,000 – $865,000 | $262 / $270 | 1,335 / 1,363 | 53 / 39 | 1 | 21 |
| 3 Beds | $393,197 | $349,950 | $180,000 – $1,499,000 | $247 / $244 | 1,602 / 1,522 | 42 / 31 | 7 | 85 |
| 4 Beds | $471,809 | $435,000 | $249,000 – $969,000 | $212 / $212 | 2,273 / 2,068 | 46 / 19 | 8 | 45 |
| 5 Beds | $689,955 | $449,900 | $374,950 – $2,500,000 | $201 / $182 | 3,128 / 2,614 | 64 / 34 | 1 | 10 |
| 6 Beds | $442,450 | $409,900 | $409,900 – $475,000 | $164 / $155 | 2,717 / 2,377 | 79 / 13 | 0 | 2 |
Rental Market Overview
Median Rent
$1,495
+0.1%
Median DOM
1
0.0%
New Listings
30
Inventory
77
−2.5%
- Average Rent: $1,619
- Median Rent: $1,495
- Rent Range: $995 – $3,495
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,060 / 900
- Square Footage Range: 450 – 3,200
- Days on Market (Avg/Median): 25 / 1
- Days on Market Range: 1 – 313
- New Listings: 30
- Total Listings: 77
Rentals by Property Type
Apartment
$1,349
Median DOM: 103
Inventory: 9
MoM: +0.1%
Condo
$1,095
Median DOM: 1
Inventory: 26
MoM: +0.1%
Single Family
$1,800
Median DOM: 1
Inventory: 34
MoM: +0.1%
Townhouse
$1,295
Median DOM: 1
Inventory: 8
MoM: +0.1%
Apartment
Avg/Median Rent$1,359 / $1,349Range$1,050 – $1,613Rent per Sq Ft$2 / $2Sq Ft791 / 800DOM150 / 103New0Total9
Condo
Avg/Median Rent$1,205 / $1,095Range$995 – $2,395Rent per Sq Ft$2 / $2Sq Ft766 / 600DOM2 / 1New16Total26
Single Family
Avg/Median Rent$2,003 / $1,800Range$1,295 – $3,495Rent per Sq Ft$2 / $2Sq Ft1,304 / 1,044DOM30 / 1New13Total34
Townhouse
Avg/Median Rent$1,628 / $1,295Range$1,095 – $3,000Rent per Sq Ft$1 / $1Sq Ft1,129 / 900DOM17 / 1New1Total8
Rentals by Bedroom Count
1 Beds
Avg:$1,322Median:$1,181Range:$995 – $1,950PSF:$2 / $2Sq Ft:707 / 644DOM:49 / 1New:2Total:8
2 Beds
Avg:$1,347Median:$1,195Range:$995 – $3,000PSF:$2 / $2Sq Ft:843 / 820DOM:26 / 1New:16Total:42
3 Beds
Avg:$2,057Median:$1,950Range:$1,595 – $3,495PSF:$2 / $2Sq Ft:1,346 / 1,150DOM:23 / 1New:10Total:23
4 Beds
Avg:$2,550Median:$2,200Range:$1,850 – $3,200PSF:$1 / $1Sq Ft:2,004 / 1,920DOM:8 / 6New:2Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,322 | $1,181 | $995 – $1,950 | $2 / $2 | 707 / 644 | 49 / 1 | 2 | 8 |
| 2 Beds | $1,347 | $1,195 | $995 – $3,000 | $2 / $2 | 843 / 820 | 26 / 1 | 16 | 42 |
| 3 Beds | $2,057 | $1,950 | $1,595 – $3,495 | $2 / $2 | 1,346 / 1,150 | 23 / 1 | 10 | 23 |
| 4 Beds | $2,550 | $2,200 | $1,850 – $3,200 | $1 / $1 | 2,004 / 1,920 | 8 / 6 | 2 | 4 |
6-Month Sales Trend
Mar 2026
Median Price:$367,900Median DOM:20New:71Total:184
Apr 2026
Median Price:$349,950Median DOM:16New:58Total:193
May 2026
Median Price:$359,950Median DOM:19New:48Total:183
Jun 2026
Median Price:$369,950Median DOM:24New:43Total:165
Jul 2026
Median Price:$368,500Median DOM:27New:58Total:173
Aug 2026
Median Price:$368,500Median DOM:31New:17Total:182
6-Month Rental Trend
Mar 2026
Median Rent:$1,501Median DOM:1New:44Total:79
Apr 2026
Median Rent:$1,495Median DOM:1New:49Total:86
May 2026
Median Rent:$1,495Median DOM:1New:42Total:83
Jun 2026
Median Rent:$1,524Median DOM:1New:42Total:81
Jul 2026
Median Rent:$1,494Median DOM:1New:42Total:79
Aug 2026
Median Rent:$1,495Median DOM:1New:30Total:77
Key Market Takeaways
Median sale prices held steady this month while inventory expanded. 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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