ZIP 23238 Housing Market Report
Richmond Metro
Report period: May 2026
23238 Monthly Market Update – May 2026
ZIP 23238 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$520,000
−1.0%
Median DOM (Sales)
8
0.0%
New Listings (Sales)
13
−78.3%
Median Rent
$1,900
−4.8%
Median DOM (Rental)
14
−26.3%
Total Rental Listings
32
+3.2%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (8 DOM)
- Fastest renting: Apartment (4 DOM)
- Strongest bedroom: 7 Beds ($1,570,000 median)
Sales Market Overview
Median Price
$520,000
−1.0%
Median DOM
8
0.0%
New Listings
13
−78.3%
Inventory
118
+6.3%
- Average Price: $799,499
- Median Price: $520,000
- Price Range: $173,000 – $6,950,000
- Price per Sq Ft (Avg/Median): $283 / $250
- Square Footage (Avg/Median): 2,613 / 2,249
- Square Footage Range: 878 – 7,815
- Days on Market (Avg/Median): 22 / 8
- Days on Market Range: 1 – 174
- New Listings: 13
- Total Listings: 118
Sales by Property Type
Condo
Avg/Median Price$276,973 / $232,900Range$174,500 – $525,000Price per Sq Ft$208 / $203Sq Ft1,376 / 1,345DOM22 / 19New1Total15
Land
Avg/Median Price$600,000 / $250,000Range$250,000 – $950,000Price per Sq Ft—Sq Ft—DOM97 / 20New0Total2
Single Family
Avg/Median Price$1,037,577 / $640,000Range$324,900 – $6,950,000Price per Sq Ft$313 / $267Sq Ft3,167 / 2,874DOM21 / 8New7Total76
Townhouse
Avg/Median Price$405,217 / $333,000Range$173,000 – $719,950Price per Sq Ft$238 / $233Sq Ft1,671 / 1,397DOM20 / 9New5Total25
Sales by Bedroom Count
1 Beds
Avg:$173,750Median:$173,000Range:$173,000 – $174,500PSF:$196 / $195Sq Ft:886 / 878DOM:35 / 20New:0Total:2
2 Beds
Avg:$319,135Median:$300,000Range:$199,950 – $569,000PSF:$251 / $247Sq Ft:1,252 / 1,172DOM:14 / 14New:1Total:10
3 Beds
Avg:$575,803Median:$409,950Range:$219,950 – $6,950,000PSF:$294 / $257Sq Ft:1,775 / 1,604DOM:18 / 8New:7Total:49
4 Beds
Avg:$862,551Median:$610,000Range:$260,000 – $2,895,000PSF:$267 / $243Sq Ft:3,043 / 2,735DOM:21 / 7New:3Total:36
5 Beds
Avg:$1,428,146Median:$999,500Range:$499,950 – $3,399,000PSF:$313 / $257Sq Ft:4,277 / 4,228DOM:34 / 8New:1Total:13
6 Beds
Avg:$2,039,990Median:$1,550,000Range:$1,250,000 – $3,950,000PSF:$338 / $305Sq Ft:5,812 / 5,274DOM:19 / 14New:1Total:5
7 Beds
Avg:$1,570,000Median:$1,570,000Range:$1,570,000 – $1,570,000PSF:$207 / $207Sq Ft:7,594 / 7,594DOM:26 / 26New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $173,750 | $173,000 | $173,000 – $174,500 | $196 / $195 | 886 / 878 | 35 / 20 | 0 | 2 |
| 2 Beds | $319,135 | $300,000 | $199,950 – $569,000 | $251 / $247 | 1,252 / 1,172 | 14 / 14 | 1 | 10 |
| 3 Beds | $575,803 | $409,950 | $219,950 – $6,950,000 | $294 / $257 | 1,775 / 1,604 | 18 / 8 | 7 | 49 |
| 4 Beds | $862,551 | $610,000 | $260,000 – $2,895,000 | $267 / $243 | 3,043 / 2,735 | 21 / 7 | 3 | 36 |
| 5 Beds | $1,428,146 | $999,500 | $499,950 – $3,399,000 | $313 / $257 | 4,277 / 4,228 | 34 / 8 | 1 | 13 |
| 6 Beds | $2,039,990 | $1,550,000 | $1,250,000 – $3,950,000 | $338 / $305 | 5,812 / 5,274 | 19 / 14 | 1 | 5 |
| 7 Beds | $1,570,000 | $1,570,000 | $1,570,000 – $1,570,000 | $207 / $207 | 7,594 / 7,594 | 26 / 26 | 0 | 1 |
Rental Market Overview
Median Rent
$1,900
−4.8%
Median DOM
14
−26.3%
New Listings
4
Inventory
32
+3.2%
- Average Rent: $2,322
- Median Rent: $1,900
- Rent Range: $1,185 – $5,850
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,457 / 1,360
- Square Footage Range: 558 – 3,065
- Days on Market (Avg/Median): 60 / 14
- Days on Market Range: 1 – 349
- New Listings: 4
- Total Listings: 32
Rentals by Property Type
Apartment
$1,544
Median DOM: 4
Inventory: 12
MoM: −4.8%
Condo
$1,900
Median DOM: 74
Inventory: 3
MoM: −4.8%
Single Family
$3,000
Median DOM: 7
Inventory: 9
MoM: −4.8%
Townhouse
$2,000
Median DOM: 14
Inventory: 8
MoM: −4.8%
Apartment
Avg/Median Rent$1,703 / $1,544Range$1,185 – $2,800Rent per Sq Ft$2 / $2Sq Ft935 / 740DOM14 / 4New1Total12
Condo
Avg/Median Rent$1,875 / $1,900Range$1,725 – $2,000Rent per Sq Ft$1 / $2Sq Ft1,276 / 1,298DOM59 / 74New0Total3
Single Family
Avg/Median Rent$3,385 / $3,000Range$1,850 – $5,850Rent per Sq Ft$2 / $1Sq Ft2,217 / 2,088DOM42 / 7New2Total9
Townhouse
Avg/Median Rent$2,222 / $2,000Range$1,795 – $2,899Rent per Sq Ft$1 / $1Sq Ft1,454 / 1,360DOM97 / 14New1Total8
Rentals by Bedroom Count
1 Beds
Avg:$1,443Median:$1,388Range:$1,185 – $1,759PSF:$2 / $2Sq Ft:689 / 715DOM:—New:0Total:6
2 Beds
Avg:$1,991Median:$1,850Range:$1,395 – $2,850PSF:$2 / $2Sq Ft:1,233 / 1,088DOM:22 / 4New:3Total:10
3 Beds
Avg:$2,097Median:$1,900Range:$1,795 – $2,899PSF:$1 / $1Sq Ft:1,392 / 1,360DOM:64 / 14New:0Total:8
4 Beds
Avg:$2,910Median:$2,800Range:$2,490 – $3,395PSF:$1 / $1Sq Ft:2,258 / 2,077DOM:67 / 6New:1Total:6
5 Beds
Avg:$5,750Median:$5,650Range:$5,650 – $5,850PSF:$2 / $2Sq Ft:2,708 / 2,352DOM:153 / 101New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,443 | $1,388 | $1,185 – $1,759 | $2 / $2 | 689 / 715 | — | 0 | 6 |
| 2 Beds | $1,991 | $1,850 | $1,395 – $2,850 | $2 / $2 | 1,233 / 1,088 | 22 / 4 | 3 | 10 |
| 3 Beds | $2,097 | $1,900 | $1,795 – $2,899 | $1 / $1 | 1,392 / 1,360 | 64 / 14 | 0 | 8 |
| 4 Beds | $2,910 | $2,800 | $2,490 – $3,395 | $1 / $1 | 2,258 / 2,077 | 67 / 6 | 1 | 6 |
| 5 Beds | $5,750 | $5,650 | $5,650 – $5,850 | $2 / $2 | 2,708 / 2,352 | 153 / 101 | 0 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$549,900Median DOM:38New:18Total:91
Jan 2026
Median Price:$567,000Median DOM:31New:24Total:78
Feb 2026
Median Price:$569,950Median DOM:17New:18Total:67
Mar 2026
Median Price:$525,000Median DOM:12New:34Total:77
Apr 2026
Median Price:$525,000Median DOM:8New:60Total:111
May 2026
Median Price:$520,000Median DOM:8New:13Total:118
6-Month Rental Trend
Dec 2025
Median Rent:$1,850Median DOM:17New:13Total:39
Jan 2026
Median Rent:$1,844Median DOM:20New:10Total:36
Feb 2026
Median Rent:$1,775Median DOM:24New:8Total:36
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:14New:4Total:32
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market were unchanged, signaling steady 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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