ZIP 23120 Housing Market Report
Richmond Metro
Report period: March 2026
23120 Monthly Market Update – March 2026
ZIP 23120 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$549,950
−2.7%
Median DOM (Sales)
20
−13.0%
New Listings (Sales)
39
−36.1%
Median Rent
$2,750
0.0%
Median DOM (Rental)
9
−71.9%
Total Rental Listings
29
+26.1%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market improved. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Townhouse (6 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($799,950 median)
Sales Market Overview
Median Price
$549,950
−2.7%
Median DOM
20
−13.0%
New Listings
39
−36.1%
Inventory
149
+3.5%
- Average Price: $607,517
- Median Price: $549,950
- Price Range: $175,000 – $1,695,000
- Price per Sq Ft (Avg/Median): $236 / $234
- Square Footage (Avg/Median): 2,639 / 2,433
- Square Footage Range: 1,112 – 6,034
- Days on Market (Avg/Median): 40 / 20
- Days on Market Range: 1 – 335
- New Listings: 39
- Total Listings: 149
Sales by Property Type
Condo
Avg/Median Price$415,655 / $349,990Range$280,500 – $629,801Price per Sq Ft$264 / $259Sq Ft1,572 / 1,333DOM31 / 26New0Total14
Land
Avg/Median Price$200,000 / $175,000Range$175,000 – $225,000Price per Sq Ft—Sq Ft—DOM68 / 20New0Total2
Single Family
Avg/Median Price$724,190 / $653,365Range$230,000 – $1,695,000Price per Sq Ft$235 / $231Sq Ft3,122 / 3,052DOM50 / 32New15Total89
Townhouse
Avg/Median Price$451,092 / $447,500Range$378,999 – $558,172Price per Sq Ft$228 / $227Sq Ft2,002 / 1,835DOM22 / 6New24Total44
Sales by Bedroom Count
2 Beds
Avg:$401,996Median:$349,990Range:$280,500 – $599,790PSF:$263 / $263Sq Ft:1,526 / 1,333DOM:40 / 30New:1Total:14
3 Beds
Avg:$480,888Median:$462,920Range:$230,000 – $689,800PSF:$242 / $242Sq Ft:2,001 / 1,955DOM:28 / 7New:21Total:51
4 Beds
Avg:$649,413Median:$599,950Range:$394,777 – $1,125,000PSF:$232 / $222Sq Ft:2,790 / 2,714DOM:36 / 24New:13Total:51
5 Beds
Avg:$875,407Median:$699,990Range:$479,990 – $1,695,000PSF:$223 / $208Sq Ft:3,883 / 3,691DOM:42 / 16New:4Total:27
6 Beds
Avg:$802,706Median:$799,950Range:$675,000 – $899,000PSF:$184 / $184Sq Ft:4,363 / 4,156DOM:205 / 218New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $401,996 | $349,990 | $280,500 – $599,790 | $263 / $263 | 1,526 / 1,333 | 40 / 30 | 1 | 14 |
| 3 Beds | $480,888 | $462,920 | $230,000 – $689,800 | $242 / $242 | 2,001 / 1,955 | 28 / 7 | 21 | 51 |
| 4 Beds | $649,413 | $599,950 | $394,777 – $1,125,000 | $232 / $222 | 2,790 / 2,714 | 36 / 24 | 13 | 51 |
| 5 Beds | $875,407 | $699,990 | $479,990 – $1,695,000 | $223 / $208 | 3,883 / 3,691 | 42 / 16 | 4 | 27 |
| 6 Beds | $802,706 | $799,950 | $675,000 – $899,000 | $184 / $184 | 4,363 / 4,156 | 205 / 218 | 0 | 4 |
Rental Market Overview
Median Rent
$2,750
0.0%
Median DOM
9
−71.9%
New Listings
11
Inventory
29
+26.1%
- Average Rent: $2,771
- Median Rent: $2,750
- Rent Range: $1,399 – $3,995
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 2,303 / 2,000
- Square Footage Range: 609 – 4,542
- Days on Market (Avg/Median): 30 / 9
- Days on Market Range: 1 – 149
- New Listings: 11
- Total Listings: 29
Rentals by Property Type
Apartment
$1,399
Median DOM: 43
Inventory: 2
MoM: 0.0%
Condo
$2,000
Median DOM: 1
Inventory: 2
MoM: 0.0%
Single Family
$2,850
Median DOM: 9
Inventory: 17
MoM: 0.0%
Townhouse
$2,500
Median DOM: 9
Inventory: 8
MoM: 0.0%
Apartment
Avg/Median Rent$1,800 / $1,399Range$1,399 – $2,200Rent per Sq Ft$2 / $1Sq Ft1,104 / 609DOM96 / 43New0Total2
Condo
Avg/Median Rent$2,150 / $2,000Range$2,000 – $2,300Rent per Sq Ft$2 / $2Sq Ft1,316 / 1,298DOM5 / 1New1Total2
Single Family
Avg/Median Rent$3,047 / $2,850Range$1,995 – $3,995Rent per Sq Ft$1 / $1Sq Ft2,742 / 2,438DOM31 / 9New6Total17
Townhouse
Avg/Median Rent$2,583 / $2,500Range$2,250 – $2,995Rent per Sq Ft$1 / $1Sq Ft1,918 / 1,856DOM14 / 9New4Total8
Rentals by Bedroom Count
1 Beds
Avg:$1,399Median:$1,399Range:$1,399 – $1,399PSF:$2 / $2Sq Ft:609 / 609DOM:149 / 149New:0Total:1
2 Beds
Avg:$2,188Median:$2,200Range:$2,000 – $2,300PSF:$2 / $1Sq Ft:1,438 / 1,333DOM:14 / 1New:1Total:4
3 Beds
Avg:$2,678Median:$2,700Range:$2,425 – $2,850PSF:$1 / $1Sq Ft:2,054 / 1,989DOM:29 / 10New:5Total:13
4 Beds
Avg:$2,956Median:$2,900Range:$1,995 – $3,995PSF:$1 / $1Sq Ft:2,568 / 2,438DOM:3 / 1New:3Total:6
5 Beds
Avg:$3,620Median:$3,500Range:$3,400 – $3,960PSF:$1 / $1Sq Ft:3,081 / 3,099DOM:38 / 33New:1Total:3
6 Beds
Avg:$3,400Median:$3,400Range:$3,400 – $3,400PSF:$1 / $1Sq Ft:4,540 / 4,539DOM:74 / 1New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,399 | $1,399 | $1,399 – $1,399 | $2 / $2 | 609 / 609 | 149 / 149 | 0 | 1 |
| 2 Beds | $2,188 | $2,200 | $2,000 – $2,300 | $2 / $1 | 1,438 / 1,333 | 14 / 1 | 1 | 4 |
| 3 Beds | $2,678 | $2,700 | $2,425 – $2,850 | $1 / $1 | 2,054 / 1,989 | 29 / 10 | 5 | 13 |
| 4 Beds | $2,956 | $2,900 | $1,995 – $3,995 | $1 / $1 | 2,568 / 2,438 | 3 / 1 | 3 | 6 |
| 5 Beds | $3,620 | $3,500 | $3,400 – $3,960 | $1 / $1 | 3,081 / 3,099 | 38 / 33 | 1 | 3 |
| 6 Beds | $3,400 | $3,400 | $3,400 – $3,400 | $1 / $1 | 4,540 / 4,539 | 74 / 1 | 1 | 2 |
6-Month Sales Trend
Oct 2025
Median Price:$577,000Median DOM:33New:54Total:180
Nov 2025
Median Price:$565,490Median DOM:35New:52Total:156
Dec 2025
Median Price:$539,000Median DOM:36New:47Total:143
Jan 2026
Median Price:$549,950Median DOM:21New:54Total:130
Feb 2026
Median Price:$565,490Median DOM:23New:61Total:144
Mar 2026
Median Price:$549,950Median DOM:20New:39Total:149
6-Month Rental Trend
Oct 2025
Median Rent:$2,650Median DOM:19New:10Total:24
Nov 2025
Median Rent:$2,700Median DOM:37New:6Total:22
Dec 2025
Median Rent:$2,700Median DOM:41New:6Total:22
Jan 2026
Median Rent:$2,750Median DOM:25New:11Total:30
Feb 2026
Median Rent:$2,750Median DOM:32New:5Total:23
Mar 2026
Median Rent:$2,750Median DOM:9New:11Total:29
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing remained stable, 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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