ZIP 23220 Housing Market Report
Richmond Metro
Report period: March 2026
23220 Monthly Market Update – March 2026
ZIP 23220 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$467,550
+3.9%
Median DOM (Sales)
26
−25.7%
New Listings (Sales)
11
−54.2%
Median Rent
$1,695
+1.2%
Median DOM (Rental)
1
−80.0%
Total Rental Listings
321
+25.9%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents moved higher. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (16 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 7 Beds ($829,950 median)
Sales Market Overview
Median Price
$467,550
+3.9%
Median DOM
26
−25.7%
New Listings
11
−54.2%
Inventory
111
0.0%
- Average Price: $573,443
- Median Price: $467,550
- Price Range: $11,000 – $1,999,000
- Price per Sq Ft (Avg/Median): $318 / $318
- Square Footage (Avg/Median): 1,855 / 1,584
- Square Footage Range: 522 – 7,641
- Days on Market (Avg/Median): 45 / 26
- Days on Market Range: 2 – 345
- New Listings: 11
- Total Listings: 111
Sales by Property Type
Condo
Avg/Median Price$367,214 / $324,500Range$174,000 – $649,000Price per Sq Ft$319 / $303Sq Ft1,176 / 1,082DOM46 / 29New5Total34
Land
Avg/Median Price$220,000 / $39,000Range$11,000 – $650,000Price per Sq Ft—Sq Ft—DOM30 / 41New0Total4
Multi-Family
Avg/Median Price$759,350 / $618,000Range$499,900 – $1,319,000Price per Sq Ft$323 / $353Sq Ft2,432 / 2,214DOM32 / 26New0Total5
Single Family
Avg/Median Price$722,419 / $565,000Range$285,000 – $1,999,000Price per Sq Ft$309 / $292Sq Ft2,343 / 2,024DOM42 / 16New3Total32
Townhouse
Avg/Median Price$649,243 / $599,999Range$239,950 – $1,325,000Price per Sq Ft$324 / $326Sq Ft1,982 / 1,890DOM51 / 40New3Total36
Sales by Bedroom Count
1 Beds
Avg:$230,500Median:$225,000Range:$186,000 – $275,000PSF:$308 / $317Sq Ft:784 / 867DOM:24 / 5New:2Total:5
2 Beds
Avg:$389,242Median:$349,950Range:$174,000 – $650,000PSF:$340 / $353Sq Ft:1,153 / 1,146DOM:45 / 31New:3Total:33
3 Beds
Avg:$640,613Median:$599,999Range:$239,950 – $1,750,000PSF:$325 / $326Sq Ft:1,905 / 1,840DOM:50 / 29New:2Total:43
4 Beds
Avg:$768,431Median:$639,950Range:$349,950 – $1,325,000PSF:$289 / $276Sq Ft:2,567 / 2,814DOM:45 / 17New:3Total:21
5 Beds
Avg:$918,700Median:$587,400Range:$587,400 – $1,250,000PSF:$285 / $232Sq Ft:3,114 / 2,528DOM:42 / 10New:0Total:2
6 Beds
Avg:$1,211,975Median:$424,950Range:$424,950 – $1,999,000PSF:$198 / $134Sq Ft:5,408 / 3,175DOM:48 / 4New:1Total:2
7 Beds
Avg:$829,950Median:$829,950Range:$829,950 – $829,950PSF:$229 / $229Sq Ft:3,627 / 3,627DOM:26 / 26New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $230,500 | $225,000 | $186,000 – $275,000 | $308 / $317 | 784 / 867 | 24 / 5 | 2 | 5 |
| 2 Beds | $389,242 | $349,950 | $174,000 – $650,000 | $340 / $353 | 1,153 / 1,146 | 45 / 31 | 3 | 33 |
| 3 Beds | $640,613 | $599,999 | $239,950 – $1,750,000 | $325 / $326 | 1,905 / 1,840 | 50 / 29 | 2 | 43 |
| 4 Beds | $768,431 | $639,950 | $349,950 – $1,325,000 | $289 / $276 | 2,567 / 2,814 | 45 / 17 | 3 | 21 |
| 5 Beds | $918,700 | $587,400 | $587,400 – $1,250,000 | $285 / $232 | 3,114 / 2,528 | 42 / 10 | 0 | 2 |
| 6 Beds | $1,211,975 | $424,950 | $424,950 – $1,999,000 | $198 / $134 | 5,408 / 3,175 | 48 / 4 | 1 | 2 |
| 7 Beds | $829,950 | $829,950 | $829,950 – $829,950 | $229 / $229 | 3,627 / 3,627 | 26 / 26 | 0 | 1 |
Rental Market Overview
Median Rent
$1,695
+1.2%
Median DOM
1
−80.0%
New Listings
149
Inventory
321
+25.9%
- Average Rent: $1,923
- Median Rent: $1,695
- Rent Range: $800 – $4,995
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,205 / 947
- Square Footage Range: 352 – 5,100
- Days on Market (Avg/Median): 31 / 1
- Days on Market Range: 1 – 364
- New Listings: 149
- Total Listings: 321
Rentals by Property Type
Apartment
$1,495
Median DOM: 12
Inventory: 147
MoM: +1.2%
Condo
$1,695
Median DOM: 1
Inventory: 55
MoM: +1.2%
Single Family
$2,250
Median DOM: 1
Inventory: 96
MoM: +1.2%
Townhouse
$2,699
Median DOM: 16
Inventory: 16
MoM: +1.2%
Apartment
Avg/Median Rent$1,628 / $1,495Range$800 – $4,000Rent per Sq Ft$2 / $2Sq Ft926 / 785DOM48 / 12New46Total147
Condo
Avg/Median Rent$1,700 / $1,695Range$1,095 – $3,250Rent per Sq Ft$2 / $2Sq Ft1,000 / 732DOM4 / 1New43Total55
Multi-Family
Avg/Median Rent$1,955 / $1,900Range$1,150 – $2,895Rent per Sq Ft$1 / $2Sq Ft2,107 / 1,328DOM62 / 61New1Total7
Single Family
Avg/Median Rent$2,410 / $2,250Range$925 – $4,995Rent per Sq Ft$2 / $2Sq Ft1,509 / 1,408DOM18 / 1New54Total96
Townhouse
Avg/Median Rent$2,475 / $2,699Range$900 – $4,761Rent per Sq Ft$2 / $1Sq Ft1,776 / 1,748DOM66 / 16New5Total16
Rentals by Bedroom Count
Studio
Avg:$1,199Median:$1,200Range:$1,025 – $1,442PSF:$2 / $2Sq Ft:579 / 470DOM:9 / 1New:10Total:14
1 Beds
Avg:$1,368Median:$1,300Range:$800 – $2,500PSF:$2 / $2Sq Ft:680 / 675DOM:49 / 3New:37Total:104
2 Beds
Avg:$1,798Median:$1,675Range:$1,050 – $3,400PSF:$2 / $2Sq Ft:1,118 / 920DOM:25 / 1New:47Total:105
3 Beds
Avg:$2,514Median:$2,395Range:$1,150 – $4,995PSF:$2 / $2Sq Ft:1,786 / 1,550DOM:31 / 2New:25Total:60
4 Beds
Avg:$2,825Median:$2,800Range:$2,150 – $3,500PSF:$2 / $2Sq Ft:1,727 / 1,657DOM:18 / 1New:19Total:25
5 Beds
Avg:$3,700Median:$3,800Range:$2,295 – $4,000PSF:$2 / $2Sq Ft:2,260 / 2,280DOM:5 / 1New:11Total:13
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,199 | $1,200 | $1,025 – $1,442 | $2 / $2 | 579 / 470 | 9 / 1 | 10 | 14 |
| 1 Beds | $1,368 | $1,300 | $800 – $2,500 | $2 / $2 | 680 / 675 | 49 / 3 | 37 | 104 |
| 2 Beds | $1,798 | $1,675 | $1,050 – $3,400 | $2 / $2 | 1,118 / 920 | 25 / 1 | 47 | 105 |
| 3 Beds | $2,514 | $2,395 | $1,150 – $4,995 | $2 / $2 | 1,786 / 1,550 | 31 / 2 | 25 | 60 |
| 4 Beds | $2,825 | $2,800 | $2,150 – $3,500 | $2 / $2 | 1,727 / 1,657 | 18 / 1 | 19 | 25 |
| 5 Beds | $3,700 | $3,800 | $2,295 – $4,000 | $2 / $2 | 2,260 / 2,280 | 5 / 1 | 11 | 13 |
6-Month Sales Trend
Oct 2025
Median Price:$487,500Median DOM:33New:38Total:143
Nov 2025
Median Price:$474,850Median DOM:42New:26Total:129
Dec 2025
Median Price:$440,000Median DOM:53New:16Total:109
Jan 2026
Median Price:$425,000Median DOM:45New:40Total:112
Feb 2026
Median Price:$449,995Median DOM:35New:24Total:111
Mar 2026
Median Price:$467,550Median DOM:26New:11Total:111
6-Month Rental Trend
Oct 2025
Median Rent:$1,595Median DOM:3New:123Total:272
Nov 2025
Median Rent:$1,600Median DOM:10New:97Total:260
Dec 2025
Median Rent:$1,600Median DOM:13New:84Total:228
Jan 2026
Median Rent:$1,604Median DOM:9New:93Total:210
Feb 2026
Median Rent:$1,675Median DOM:5New:123Total:255
Mar 2026
Median Rent:$1,695Median DOM:1New:149Total:321
Key Market Takeaways
Median sale prices moved higher this month while inventory remained stable. Days on market declined, signaling improving buyer activity. Rental pricing increased, 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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