ZIP 23005 Housing Market Report
Richmond Metro
Report period: March 2026
23005 Monthly Market Update – March 2026
ZIP 23005 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$389,999
0.0%
Median DOM (Sales)
47
−13.0%
New Listings (Sales)
8
−46.7%
Median Rent
$1,825
−1.4%
Median DOM (Rental)
24
+33.3%
Total Rental Listings
17
−15.0%
Month-over-Month Movement
Median sale prices were flat. Days on market improved. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (27 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 5 Beds ($1,649,000 median)
Sales Market Overview
Median Price
$389,999
0.0%
Median DOM
47
−13.0%
New Listings
8
−46.7%
Inventory
83
−3.5%
- Average Price: $500,539
- Median Price: $389,999
- Price Range: $70,000 – $2,200,000
- Price per Sq Ft (Avg/Median): $270 / $271
- Square Footage (Avg/Median): 1,987 / 1,628
- Square Footage Range: 829 – 6,586
- Days on Market (Avg/Median): 75 / 47
- Days on Market Range: 2 – 363
- New Listings: 8
- Total Listings: 83
Sales by Property Type
Condo
Avg/Median Price$325,338 / $330,000Range$255,000 – $380,000Price per Sq Ft$280 / $281Sq Ft1,166 / 1,156DOM122 / 64New2Total26
Land
Avg/Median Price$247,539 / $279,000Range$70,000 – $399,950Price per Sq Ft—Sq Ft—DOM64 / 47New0Total9
Single Family
Avg/Median Price$662,736 / $549,000Range$315,000 – $2,200,000Price per Sq Ft$266 / $259Sq Ft2,501 / 2,109DOM51 / 27New6Total45
Townhouse
Avg/Median Price$344,983 / $355,000Range$314,950 – $365,000Price per Sq Ft$251 / $236Sq Ft1,397 / 1,544DOM70 / 80New0Total3
Sales by Bedroom Count
1 Beds
Avg:$277,983Median:$269,900Range:$255,000 – $295,000PSF:$300 / $297Sq Ft:929 / 960DOM:146 / 51New:1Total:6
2 Beds
Avg:$348,707Median:$340,000Range:$300,000 – $498,000PSF:$277 / $277Sq Ft:1,255 / 1,256DOM:94 / 64New:1Total:21
3 Beds
Avg:$479,382Median:$499,990Range:$315,000 – $750,000PSF:$263 / $263Sq Ft:1,849 / 1,748DOM:51 / 23New:4Total:24
4 Beds
Avg:$691,096Median:$599,900Range:$325,000 – $1,430,000PSF:$259 / $235Sq Ft:2,693 / 2,520DOM:65 / 42New:1Total:20
5 Beds
Avg:$1,666,333Median:$1,649,000Range:$1,150,000 – $2,200,000PSF:$295 / $260Sq Ft:5,633 / 5,885DOM:98 / 118New:1Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $277,983 | $269,900 | $255,000 – $295,000 | $300 / $297 | 929 / 960 | 146 / 51 | 1 | 6 |
| 2 Beds | $348,707 | $340,000 | $300,000 – $498,000 | $277 / $277 | 1,255 / 1,256 | 94 / 64 | 1 | 21 |
| 3 Beds | $479,382 | $499,990 | $315,000 – $750,000 | $263 / $263 | 1,849 / 1,748 | 51 / 23 | 4 | 24 |
| 4 Beds | $691,096 | $599,900 | $325,000 – $1,430,000 | $259 / $235 | 2,693 / 2,520 | 65 / 42 | 1 | 20 |
| 5 Beds | $1,666,333 | $1,649,000 | $1,150,000 – $2,200,000 | $295 / $260 | 5,633 / 5,885 | 98 / 118 | 1 | 3 |
Rental Market Overview
Median Rent
$1,825
−1.4%
Median DOM
24
+33.3%
New Listings
1
Inventory
17
−15.0%
- Average Rent: $1,908
- Median Rent: $1,825
- Rent Range: $995 – $2,995
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,280 / 1,050
- Square Footage Range: 516 – 3,300
- Days on Market (Avg/Median): 69 / 24
- Days on Market Range: 1 – 316
- New Listings: 1
- Total Listings: 17
Rentals by Property Type
Apartment
$1,461
Median DOM: 185
Inventory: 5
MoM: −1.4%
Condo
—
Median DOM: —
Inventory: —
MoM: −1.4%
Single Family
$2,450
Median DOM: 1
Inventory: 7
MoM: −1.4%
Townhouse
$1,850
Median DOM: 29
Inventory: 5
MoM: −1.4%
Apartment
Avg/Median Rent$1,341 / $1,461Range$995 – $1,705Rent per Sq Ft$2 / $2Sq Ft698 / 700DOM176 / 185New0Total5
Single Family
Avg/Median Rent$2,288 / $2,450Range$1,250 – $2,995Rent per Sq Ft$1 / $1Sq Ft1,785 / 1,765DOM14 / 1New1Total7
Townhouse
Avg/Median Rent$1,943 / $1,850Range$1,750 – $2,395Rent per Sq Ft$2 / $2Sq Ft1,156 / 1,050DOM37 / 29New0Total5
Rentals by Bedroom Count
1 Beds
Avg:$1,335Median:$1,461Range:$1,000 – $1,544PSF:$2 / $2Sq Ft:607 / 560DOM:167 / 185New:0Total:3
2 Beds
Avg:$1,714Median:$1,750Range:$1,250 – $1,895PSF:$2 / $2Sq Ft:1,036 / 1,050DOM:56 / 24New:0Total:7
3 Beds
Avg:$2,122Median:$2,300Range:$995 – $2,799PSF:$2 / $1Sq Ft:1,413 / 1,580DOM:67 / 84New:1Total:4
4 Beds
Avg:$2,648Median:$2,500Range:$2,450 – $2,995PSF:$1 / $1Sq Ft:2,348 / 1,921DOM:1 / 1New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,335 | $1,461 | $1,000 – $1,544 | $2 / $2 | 607 / 560 | 167 / 185 | 0 | 3 |
| 2 Beds | $1,714 | $1,750 | $1,250 – $1,895 | $2 / $2 | 1,036 / 1,050 | 56 / 24 | 0 | 7 |
| 3 Beds | $2,122 | $2,300 | $995 – $2,799 | $2 / $1 | 1,413 / 1,580 | 67 / 84 | 1 | 4 |
| 4 Beds | $2,648 | $2,500 | $2,450 – $2,995 | $1 / $1 | 2,348 / 1,921 | 1 / 1 | 0 | 3 |
6-Month Sales Trend
Oct 2025
Median Price:$469,000Median DOM:36New:30Total:122
Nov 2025
Median Price:$410,000Median DOM:46New:16Total:97
Dec 2025
Median Price:$399,950Median DOM:69New:11Total:88
Jan 2026
Median Price:$380,000Median DOM:57New:25Total:86
Feb 2026
Median Price:$389,999Median DOM:54New:15Total:86
Mar 2026
Median Price:$389,999Median DOM:47New:8Total:83
6-Month Rental Trend
Oct 2025
Median Rent:$1,795Median DOM:1New:5Total:13
Nov 2025
Median Rent:$1,795Median DOM:7New:7Total:15
Dec 2025
Median Rent:$1,750Median DOM:14New:10Total:16
Jan 2026
Median Rent:$1,750Median DOM:23New:5Total:17
Feb 2026
Median Rent:$1,850Median DOM:18New:7Total:20
Mar 2026
Median Rent:$1,825Median DOM:24New:1Total:17
Key Market Takeaways
Median sale prices held steady this month while inventory compressed. Days on market declined, signaling improving buyer activity. Rental pricing eased, 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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