ZIP 23116 Housing Market Report
Richmond Metro
Report period: March 2026
23116 Monthly Market Update – March 2026
ZIP 23116 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$570,000
+0.9%
Median DOM (Sales)
30
−11.8%
New Listings (Sales)
10
−61.5%
Median Rent
$2,400
0.0%
Median DOM (Rental)
23
0.0%
Total Rental Listings
14
−12.5%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (23 DOM)
- Fastest renting: Single Family (8 DOM)
- Strongest bedroom: 5 Beds ($710,000 median)
Sales Market Overview
Median Price
$570,000
+0.9%
Median DOM
30
−11.8%
New Listings
10
−61.5%
Inventory
112
−4.3%
- Average Price: $576,645
- Median Price: $570,000
- Price Range: $219,999 – $2,295,000
- Price per Sq Ft (Avg/Median): $236 / $232
- Square Footage (Avg/Median): 2,526 / 2,424
- Square Footage Range: 1,082 – 7,980
- Days on Market (Avg/Median): 62 / 30
- Days on Market Range: 1 – 364
- New Listings: 10
- Total Listings: 112
Sales by Property Type
Condo
Avg/Median Price$432,720 / $434,900Range$370,000 – $474,516Price per Sq Ft$274 / $266Sq Ft1,598 / 1,579DOM92 / 63New1Total10
Land
Avg/Median Price$511,666 / $395,000Range$219,999 – $920,000Price per Sq Ft—Sq Ft—DOM68 / 77New1Total3
Single Family
Avg/Median Price$621,363 / $599,000Range$280,000 – $2,295,000Price per Sq Ft$230 / $219Sq Ft2,767 / 2,688DOM55 / 23New7Total78
Townhouse
Avg/Median Price$488,367 / $490,000Range$349,950 – $631,900Price per Sq Ft$238 / $232Sq Ft2,070 / 1,967DOM74 / 26New1Total21
Sales by Bedroom Count
2 Beds
Avg:$451,562Median:$434,900Range:$370,000 – $519,900PSF:$285 / $269Sq Ft:1,605 / 1,579DOM:139 / 134New:0Total:8
3 Beds
Avg:$486,020Median:$464,212Range:$280,000 – $729,000PSF:$248 / $241Sq Ft:1,990 / 1,827DOM:56 / 25New:4Total:40
4 Beds
Avg:$585,159Median:$589,500Range:$375,000 – $749,000PSF:$222 / $214Sq Ft:2,691 / 2,604DOM:64 / 21New:4Total:42
5 Beds
Avg:$841,078Median:$710,000Range:$499,950 – $2,295,000PSF:$225 / $212Sq Ft:3,697 / 3,428DOM:31 / 12New:1Total:16
6 Beds
Avg:$653,983Median:$669,950Range:$617,000 – $675,000PSF:$189 / $174Sq Ft:3,560 / 3,543DOM:86 / 109New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $451,562 | $434,900 | $370,000 – $519,900 | $285 / $269 | 1,605 / 1,579 | 139 / 134 | 0 | 8 |
| 3 Beds | $486,020 | $464,212 | $280,000 – $729,000 | $248 / $241 | 1,990 / 1,827 | 56 / 25 | 4 | 40 |
| 4 Beds | $585,159 | $589,500 | $375,000 – $749,000 | $222 / $214 | 2,691 / 2,604 | 64 / 21 | 4 | 42 |
| 5 Beds | $841,078 | $710,000 | $499,950 – $2,295,000 | $225 / $212 | 3,697 / 3,428 | 31 / 12 | 1 | 16 |
| 6 Beds | $653,983 | $669,950 | $617,000 – $675,000 | $189 / $174 | 3,560 / 3,543 | 86 / 109 | 0 | 3 |
Rental Market Overview
Median Rent
$2,400
0.0%
Median DOM
23
0.0%
New Listings
3
Inventory
14
−12.5%
- Average Rent: $2,470
- Median Rent: $2,400
- Rent Range: $1,495 – $3,750
- Rent per Sq Ft (Avg/Median): $1 / $2
- Square Footage (Avg/Median): 1,761 / 1,562
- Square Footage Range: 764 – 3,401
- Days on Market (Avg/Median): 28 / 23
- Days on Market Range: 1 – 76
- New Listings: 3
- Total Listings: 14
Rentals by Property Type
Apartment
$1,699
Median DOM: —
Inventory: 1
MoM: 0.0%
Condo
—
Median DOM: —
Inventory: —
MoM: 0.0%
Single Family
$2,400
Median DOM: 8
Inventory: 9
MoM: 0.0%
Townhouse
$2,400
Median DOM: 59
Inventory: 4
MoM: 0.0%
Apartment
Avg/Median Rent$1,699 / $1,699Range$1,699 – $1,699Rent per Sq Ft$2 / $2Sq Ft899 / 899DOM—New0Total1
Single Family
Avg/Median Rent$2,576 / $2,400Range$1,495 – $3,750Rent per Sq Ft$1 / $1Sq Ft1,886 / 1,564DOM18 / 8New3Total9
Townhouse
Avg/Median Rent$2,425 / $2,400Range$2,400 – $2,500Rent per Sq Ft$1 / $2Sq Ft1,696 / 1,562DOM57 / 59New0Total4
Rentals by Bedroom Count
2 Beds
Avg:$1,597Median:$1,495Range:$1,495 – $1,699PSF:$2 / $2Sq Ft:832 / 764DOM:23 / 23New:0Total:2
3 Beds
Avg:$2,374Median:$2,400Range:$2,000 – $2,500PSF:$1 / $2Sq Ft:1,630 / 1,562DOM:32 / 36New:2Total:8
4 Beds
Avg:$3,099Median:$2,750Range:$2,400 – $3,750PSF:$1 / $1Sq Ft:2,489 / 2,079DOM:22 / 22New:1Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $1,597 | $1,495 | $1,495 – $1,699 | $2 / $2 | 832 / 764 | 23 / 23 | 0 | 2 |
| 3 Beds | $2,374 | $2,400 | $2,000 – $2,500 | $1 / $2 | 1,630 / 1,562 | 32 / 36 | 2 | 8 |
| 4 Beds | $3,099 | $2,750 | $2,400 – $3,750 | $1 / $1 | 2,489 / 2,079 | 22 / 22 | 1 | 4 |
6-Month Sales Trend
Oct 2025
Median Price:$529,900Median DOM:30New:44Total:152
Nov 2025
Median Price:$534,950Median DOM:34New:29Total:150
Dec 2025
Median Price:$535,000Median DOM:47New:17Total:117
Jan 2026
Median Price:$565,000Median DOM:38New:35Total:107
Feb 2026
Median Price:$565,000Median DOM:34New:26Total:117
Mar 2026
Median Price:$570,000Median DOM:30New:10Total:112
6-Month Rental Trend
Oct 2025
Median Rent:$2,600Median DOM:5New:11Total:18
Nov 2025
Median Rent:$2,600Median DOM:14New:7Total:21
Dec 2025
Median Rent:$2,650Median DOM:28New:8Total:23
Jan 2026
Median Rent:$2,400Median DOM:23New:5Total:19
Feb 2026
Median Rent:$2,400Median DOM:23New:6Total:16
Mar 2026
Median Rent:$2,400Median DOM:23New:3Total:14
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market declined, signaling improving buyer activity. Rental pricing remained stable, 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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