ZIP 23238 Housing Market Report
Richmond Metro
Report period: August 2026
23238 Monthly Market Update – August 2026
ZIP 23238 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$549,950
−6.0%
Median DOM (Sales)
21
+16.7%
New Listings (Sales)
4
−87.5%
Median Rent
$1,850
0.0%
Median DOM (Rental)
13
+44.4%
Total Rental Listings
30
0.0%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents were stable.
What's Moving Fastest
- Fastest selling: Single Family (20 DOM)
- Fastest renting: Single Family (3 DOM)
- Strongest bedroom: 5 Beds ($750,000 median)
Sales Market Overview
Median Price
$549,950
−6.0%
Median DOM
21
+16.7%
New Listings
4
−87.5%
Inventory
91
−9.9%
- Average Price: $708,653
- Median Price: $549,950
- Price Range: $149,000 – $5,900,000
- Price per Sq Ft (Avg/Median): $273 / $238
- Square Footage (Avg/Median): 2,536 / 2,264
- Square Footage Range: 878 – 9,416
- Days on Market (Avg/Median): 41 / 21
- Days on Market Range: 2 – 265
- New Listings: 4
- Total Listings: 91
Sales by Property Type
Condo
Avg/Median Price$208,236 / $195,000Range$168,000 – $259,950Price per Sq Ft$169 / $176Sq Ft1,348 / 1,107DOM35 / 25New0Total7
Land
Avg/Median Price$446,333 / $240,000Range$149,000 – $950,000Price per Sq Ft—Sq Ft—DOM131 / 111New0Total3
Multi-Family
Avg/Median Price$649,000 / $649,000Range$649,000 – $649,000Price per Sq Ft$316 / $316Sq Ft2,052 / 2,052DOM79 / 79New0Total1
Single Family
Avg/Median Price$921,666 / $649,950Range$300,000 – $5,900,000Price per Sq Ft$299 / $252Sq Ft3,087 / 2,873DOM38 / 20New4Total55
Townhouse
Avg/Median Price$414,005 / $335,000Range$272,000 – $690,000Price per Sq Ft$243 / $233Sq Ft1,675 / 1,678DOM34 / 21New0Total25
Sales by Bedroom Count
1 Beds
Avg:$173,950Median:$168,000Range:$168,000 – $179,900PSF:$196 / $191Sq Ft:886 / 878DOM:34 / 25New:0Total:2
2 Beds
Avg:$399,875Median:$299,500Range:$195,000 – $649,000PSF:$249 / $233Sq Ft:1,549 / 1,328DOM:43 / 27New:0Total:10
3 Beds
Avg:$618,178Median:$395,000Range:$234,900 – $5,900,000PSF:$299 / $234Sq Ft:1,844 / 1,766DOM:35 / 19New:1Total:29
4 Beds
Avg:$827,664Median:$624,950Range:$430,000 – $2,595,000PSF:$271 / $253Sq Ft:2,950 / 2,647DOM:38 / 18New:2Total:33
5 Beds
Avg:$950,488Median:$750,000Range:$180,900 – $1,795,500PSF:$258 / $236Sq Ft:3,816 / 3,174DOM:44 / 29New:0Total:12
6 Beds
Avg:$1,077,925Median:$659,900Range:$659,900 – $1,495,950PSF:$231 / $225Sq Ft:4,618 / 2,937DOM:6 / 4New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $173,950 | $168,000 | $168,000 – $179,900 | $196 / $191 | 886 / 878 | 34 / 25 | 0 | 2 |
| 2 Beds | $399,875 | $299,500 | $195,000 – $649,000 | $249 / $233 | 1,549 / 1,328 | 43 / 27 | 0 | 10 |
| 3 Beds | $618,178 | $395,000 | $234,900 – $5,900,000 | $299 / $234 | 1,844 / 1,766 | 35 / 19 | 1 | 29 |
| 4 Beds | $827,664 | $624,950 | $430,000 – $2,595,000 | $271 / $253 | 2,950 / 2,647 | 38 / 18 | 2 | 33 |
| 5 Beds | $950,488 | $750,000 | $180,900 – $1,795,500 | $258 / $236 | 3,816 / 3,174 | 44 / 29 | 0 | 12 |
| 6 Beds | $1,077,925 | $659,900 | $659,900 – $1,495,950 | $231 / $225 | 4,618 / 2,937 | 6 / 4 | 1 | 2 |
Rental Market Overview
Median Rent
$1,850
0.0%
Median DOM
13
+44.4%
New Listings
3
Inventory
30
0.0%
- Average Rent: $2,325
- Median Rent: $1,850
- Rent Range: $1,190 – $6,300
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,502 / 1,298
- Square Footage Range: 558 – 4,856
- Days on Market (Avg/Median): 33 / 13
- Days on Market Range: 1 – 192
- New Listings: 3
- Total Listings: 30
Rentals by Property Type
Apartment
$1,495
Median DOM: 9
Inventory: 11
MoM: 0.0%
Condo
$1,190
Median DOM: 41
Inventory: 2
MoM: 0.0%
Single Family
$2,895
Median DOM: 3
Inventory: 13
MoM: 0.0%
Townhouse
$2,750
Median DOM: 13
Inventory: 3
MoM: 0.0%
Apartment
Avg/Median Rent$1,465 / $1,495Range$1,305 – $1,650Rent per Sq Ft$2 / $2Sq Ft779 / 735DOM30 / 9New0Total11
Condo
Avg/Median Rent$1,595 / $1,190Range$1,190 – $2,000Rent per Sq Ft$1 / $1Sq Ft1,308 / 1,298DOM92 / 41New0Total2
Multi-Family
Avg/Median Rent$1,645 / $1,645Range$1,645 – $1,645Rent per Sq Ft$2 / $2Sq Ft1,008 / 1,008DOM66 / 66New0Total1
Single Family
Avg/Median Rent$3,159 / $2,895Range$1,850 – $6,300Rent per Sq Ft$1 / $1Sq Ft2,185 / 2,108DOM24 / 3New3Total13
Townhouse
Avg/Median Rent$2,583 / $2,750Range$2,100 – $2,899Rent per Sq Ft$2 / $2Sq Ft1,492 / 1,320DOM14 / 13New0Total3
Rentals by Bedroom Count
1 Beds
Avg:$1,405Median:$1,336Range:$1,190 – $1,574PSF:$2 / $2Sq Ft:741 / 649DOM:46 / 41New:0Total:8
2 Beds
Avg:$1,821Median:$1,650Range:$1,390 – $2,750PSF:$2 / $1Sq Ft:1,208 / 1,026DOM:15 / 9New:1Total:10
3 Beds
Avg:$2,753Median:$2,875Range:$2,000 – $3,350PSF:$2 / $2Sq Ft:1,802 / 2,058DOM:32 / 3New:1Total:7
4 Beds
Avg:$3,798Median:$2,995Range:$2,895 – $6,300PSF:$1 / $1Sq Ft:3,023 / 2,445DOM:19 / 13New:1Total:4
5 Beds
Avg:$5,850Median:$5,850Range:$5,850 – $5,850PSF:$2 / $2Sq Ft:2,352 / 2,352DOM:192 / 192New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,405 | $1,336 | $1,190 – $1,574 | $2 / $2 | 741 / 649 | 46 / 41 | 0 | 8 |
| 2 Beds | $1,821 | $1,650 | $1,390 – $2,750 | $2 / $1 | 1,208 / 1,026 | 15 / 9 | 1 | 10 |
| 3 Beds | $2,753 | $2,875 | $2,000 – $3,350 | $2 / $2 | 1,802 / 2,058 | 32 / 3 | 1 | 7 |
| 4 Beds | $3,798 | $2,995 | $2,895 – $6,300 | $1 / $1 | 3,023 / 2,445 | 19 / 13 | 1 | 4 |
| 5 Beds | $5,850 | $5,850 | $5,850 – $5,850 | $2 / $2 | 2,352 / 2,352 | 192 / 192 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$525,000Median DOM:12New:34Total:77
Apr 2026
Median Price:$525,000Median DOM:8New:60Total:111
May 2026
Median Price:$550,000Median DOM:8New:43Total:128
Jun 2026
Median Price:$589,500Median DOM:11New:32Total:111
Jul 2026
Median Price:$585,000Median DOM:18New:32Total:101
Aug 2026
Median Price:$549,950Median DOM:21New:4Total:91
6-Month Rental Trend
Mar 2026
Median Rent:$1,889Median DOM:36New:7Total:30
Apr 2026
Median Rent:$1,995Median DOM:19New:7Total:31
May 2026
Median Rent:$1,900Median DOM:21New:5Total:29
Jun 2026
Median Rent:$1,795Median DOM:13New:9Total:25
Jul 2026
Median Rent:$1,850Median DOM:9New:11Total:30
Aug 2026
Median Rent:$1,850Median DOM:13New:3Total:30
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market lengthened, signaling slower 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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