ZIP 23231 Housing Market Report
Richmond Metro
Report period: May 2026
23231 Monthly Market Update – May 2026
ZIP 23231 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$350,000
+0.0%
Median DOM (Sales)
17
+6.3%
New Listings (Sales)
14
−75.9%
Median Rent
$1,475
−1.3%
Median DOM (Rental)
1
0.0%
Total Rental Listings
92
+7.0%
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 (10 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($449,000 median)
Sales Market Overview
Median Price
$350,000
+0.0%
Median DOM
17
+6.3%
New Listings
14
−75.9%
Inventory
192
−0.5%
- Average Price: $365,811
- Median Price: $350,000
- Price Range: $15,000 – $2,500,000
- Price per Sq Ft (Avg/Median): $235 / $230
- Square Footage (Avg/Median): 1,745 / 1,678
- Square Footage Range: 688 – 6,722
- Days on Market (Avg/Median): 40 / 17
- Days on Market Range: 1 – 295
- New Listings: 14
- Total Listings: 192
Sales by Property Type
Condo
Avg/Median Price$467,869 / $424,950Range$275,000 – $875,000Price per Sq Ft$302 / $294Sq Ft1,570 / 1,688DOM55 / 37New1Total20
Land
Avg/Median Price$123,673 / $92,500Range$15,000 – $700,000Price per Sq Ft—Sq Ft—DOM111 / 91New0Total22
Single Family
Avg/Median Price$371,940 / $359,950Range$125,000 – $2,500,000Price per Sq Ft$221 / $214Sq Ft1,744 / 1,599DOM31 / 10New13Total139
Townhouse
Avg/Median Price$587,075 / $599,980Range$320,000 – $769,900Price per Sq Ft$281 / $296Sq Ft2,081 / 2,032DOM30 / 24New0Total11
Sales by Bedroom Count
1 Beds
Avg:$319,600Median:$310,000Range:$275,000 – $410,000PSF:$339 / $347Sq Ft:966 / 893DOM:39 / 22New:0Total:5
2 Beds
Avg:$356,650Median:$323,900Range:$125,000 – $875,000PSF:$273 / $280Sq Ft:1,309 / 1,363DOM:46 / 32New:3Total:35
3 Beds
Avg:$379,828Median:$349,950Range:$170,000 – $769,900PSF:$237 / $237Sq Ft:1,626 / 1,536DOM:29 / 10New:8Total:82
4 Beds
Avg:$416,184Median:$399,920Range:$150,000 – $750,000PSF:$195 / $190Sq Ft:2,153 / 2,112DOM:35 / 17New:2Total:35
5 Beds
Avg:$646,173Median:$449,000Range:$385,000 – $2,500,000PSF:$197 / $179Sq Ft:2,969 / 2,752DOM:19 / 8New:1Total:11
6 Beds
Avg:$424,900Median:$424,900Range:$424,900 – $424,900PSF:$179 / $179Sq Ft:2,377 / 2,377DOM:53 / 53New:0Total:1
7 Beds
Avg:$189,000Median:$189,000Range:$189,000 – $189,000PSF:$82 / $82Sq Ft:2,300 / 2,300DOM:32 / 32New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $319,600 | $310,000 | $275,000 – $410,000 | $339 / $347 | 966 / 893 | 39 / 22 | 0 | 5 |
| 2 Beds | $356,650 | $323,900 | $125,000 – $875,000 | $273 / $280 | 1,309 / 1,363 | 46 / 32 | 3 | 35 |
| 3 Beds | $379,828 | $349,950 | $170,000 – $769,900 | $237 / $237 | 1,626 / 1,536 | 29 / 10 | 8 | 82 |
| 4 Beds | $416,184 | $399,920 | $150,000 – $750,000 | $195 / $190 | 2,153 / 2,112 | 35 / 17 | 2 | 35 |
| 5 Beds | $646,173 | $449,000 | $385,000 – $2,500,000 | $197 / $179 | 2,969 / 2,752 | 19 / 8 | 1 | 11 |
| 6 Beds | $424,900 | $424,900 | $424,900 – $424,900 | $179 / $179 | 2,377 / 2,377 | 53 / 53 | 0 | 1 |
| 7 Beds | $189,000 | $189,000 | $189,000 – $189,000 | $82 / $82 | 2,300 / 2,300 | 32 / 32 | 0 | 1 |
Rental Market Overview
Median Rent
$1,475
−1.3%
Median DOM
1
0.0%
New Listings
34
Inventory
92
+7.0%
- Average Rent: $1,587
- Median Rent: $1,475
- Rent Range: $995 – $3,495
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,030 / 900
- Square Footage Range: 450 – 2,880
- Days on Market (Avg/Median): 31 / 1
- Days on Market Range: 1 – 364
- New Listings: 34
- Total Listings: 92
Rentals by Property Type
Apartment
$1,277
Median DOM: 115
Inventory: 13
MoM: −1.3%
Condo
$1,095
Median DOM: 1
Inventory: 27
MoM: −1.3%
Single Family
$1,850
Median DOM: 1
Inventory: 40
MoM: −1.3%
Townhouse
$1,295
Median DOM: 1
Inventory: 12
MoM: −1.3%
Apartment
Avg/Median Rent$1,305 / $1,277Range$995 – $1,740Rent per Sq Ft$2 / $2Sq Ft777 / 800DOM156 / 115New0Total13
Condo
Avg/Median Rent$1,125 / $1,095Range$995 – $1,495Rent per Sq Ft$2 / $2Sq Ft664 / 600DOM1 / 1New20Total27
Single Family
Avg/Median Rent$1,944 / $1,850Range$1,300 – $3,495Rent per Sq Ft$2 / $2Sq Ft1,240 / 1,068DOM22 / 1New8Total40
Townhouse
Avg/Median Rent$1,742 / $1,295Range$995 – $3,200Rent per Sq Ft$1 / $2Sq Ft1,260 / 900DOM24 / 1New6Total12
Rentals by Bedroom Count
1 Beds
Avg:$1,320Median:$1,350Range:$995 – $1,740PSF:$2 / $2Sq Ft:673 / 650DOM:110 / 54New:1Total:9
2 Beds
Avg:$1,336Median:$1,195Range:$995 – $2,900PSF:$2 / $2Sq Ft:874 / 850DOM:29 / 1New:26Total:51
3 Beds
Avg:$2,017Median:$1,900Range:$1,589 – $3,495PSF:$2 / $2Sq Ft:1,249 / 1,066DOM:20 / 1New:7Total:25
4 Beds
Avg:$2,016Median:$1,995Range:$1,787 – $2,250PSF:$1 / $1Sq Ft:1,711 / 1,560DOM:16 / 1New:0Total:5
5 Beds
Avg:$2,750Median:$2,200Range:$2,200 – $3,300PSF:$2 / $1Sq Ft:1,338 / 960DOM:29 / 1New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,320 | $1,350 | $995 – $1,740 | $2 / $2 | 673 / 650 | 110 / 54 | 1 | 9 |
| 2 Beds | $1,336 | $1,195 | $995 – $2,900 | $2 / $2 | 874 / 850 | 29 / 1 | 26 | 51 |
| 3 Beds | $2,017 | $1,900 | $1,589 – $3,495 | $2 / $2 | 1,249 / 1,066 | 20 / 1 | 7 | 25 |
| 4 Beds | $2,016 | $1,995 | $1,787 – $2,250 | $1 / $1 | 1,711 / 1,560 | 16 / 1 | 0 | 5 |
| 5 Beds | $2,750 | $2,200 | $2,200 – $3,300 | $2 / $1 | 1,338 / 960 | 29 / 1 | 0 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$335,000Median DOM:62New:20Total:152
Jan 2026
Median Price:$340,000Median DOM:49New:46Total:146
Feb 2026
Median Price:$349,900Median DOM:40New:39Total:160
Mar 2026
Median Price:$367,900Median DOM:20New:71Total:184
Apr 2026
Median Price:$349,950Median DOM:16New:58Total:193
May 2026
Median Price:$350,000Median DOM:17New:14Total:192
6-Month Rental Trend
Dec 2025
Median Rent:$1,577Median DOM:1New:74Total:120
Jan 2026
Median Rent:$1,650Median DOM:1New:63Total:110
Feb 2026
Median Rent:$1,650Median DOM:1New:44Total:102
Mar 2026
Median Rent:$1,501Median DOM:1New:44Total:79
Apr 2026
Median Rent:$1,495Median DOM:1New:49Total:86
May 2026
Median Rent:$1,475Median DOM:1New:34Total:92
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.
230052303023047230592306023063230692307523083231032311123112231132311423116231202312423139231402314623150232192322023221232222322323224232252322623227+11 more
← Back to Richmond Metro