ZIP 23221 Housing Market Report
Richmond Metro
Report period: March 2026
23221 Monthly Market Update – March 2026
ZIP 23221 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$610,000
−2.4%
Median DOM (Sales)
12
0.0%
New Listings (Sales)
2
−88.9%
Median Rent
$1,535
0.0%
Median DOM (Rental)
22
−15.4%
Total Rental Listings
100
+13.6%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Multi-Family (2 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($1,075,000 median)
Sales Market Overview
Median Price
$610,000
−2.4%
Median DOM
12
0.0%
New Listings
2
−88.9%
Inventory
48
+2.1%
- Average Price: $681,705
- Median Price: $610,000
- Price Range: $204,500 – $1,750,000
- Price per Sq Ft (Avg/Median): $365 / $355
- Square Footage (Avg/Median): 1,914 / 1,656
- Square Footage Range: 480 – 4,362
- Days on Market (Avg/Median): 54 / 12
- Days on Market Range: 2 – 350
- New Listings: 2
- Total Listings: 48
Sales by Property Type
Condo
Avg/Median Price$283,691 / $285,000Range$204,500 – $364,950Price per Sq Ft$372 / $368Sq Ft768 / 750DOM35 / 12New1Total12
Multi-Family
Avg/Median Price$695,000 / $695,000Range$695,000 – $695,000Price per Sq Ft$426 / $426Sq Ft1,632 / 1,632DOM2 / 2New0Total1
Single Family
Avg/Median Price$866,713 / $774,999Range$419,950 – $1,750,000Price per Sq Ft$360 / $353Sq Ft2,452 / 2,306DOM33 / 8New1Total26
Townhouse
Avg/Median Price$676,444 / $695,000Range$479,000 – $795,000Price per Sq Ft$363 / $332Sq Ft1,918 / 2,131DOM145 / 73New0Total9
Sales by Bedroom Count
1 Beds
Avg:$249,058Median:$229,900Range:$204,500 – $295,000PSF:$372 / $355Sq Ft:675 / 655DOM:60 / 47New:0Total:6
2 Beds
Avg:$385,494Median:$315,000Range:$275,000 – $695,000PSF:$386 / $380Sq Ft:988 / 828DOM:19 / 8New:1Total:8
3 Beds
Avg:$648,666Median:$599,950Range:$419,950 – $1,395,000PSF:$366 / $358Sq Ft:1,798 / 1,702DOM:88 / 38New:0Total:19
4 Beds
Avg:$972,173Median:$895,000Range:$649,000 – $1,320,000PSF:$342 / $329Sq Ft:2,902 / 2,885DOM:20 / 7New:1Total:11
5 Beds
Avg:$1,281,250Median:$1,075,000Range:$950,000 – $1,750,000PSF:$371 / $353Sq Ft:3,457 / 3,133DOM:46 / 9New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $249,058 | $229,900 | $204,500 – $295,000 | $372 / $355 | 675 / 655 | 60 / 47 | 0 | 6 |
| 2 Beds | $385,494 | $315,000 | $275,000 – $695,000 | $386 / $380 | 988 / 828 | 19 / 8 | 1 | 8 |
| 3 Beds | $648,666 | $599,950 | $419,950 – $1,395,000 | $366 / $358 | 1,798 / 1,702 | 88 / 38 | 0 | 19 |
| 4 Beds | $972,173 | $895,000 | $649,000 – $1,320,000 | $342 / $329 | 2,902 / 2,885 | 20 / 7 | 1 | 11 |
| 5 Beds | $1,281,250 | $1,075,000 | $950,000 – $1,750,000 | $371 / $353 | 3,457 / 3,133 | 46 / 9 | 0 | 4 |
Rental Market Overview
Median Rent
$1,535
0.0%
Median DOM
22
−15.4%
New Listings
28
Inventory
100
+13.6%
- Average Rent: $1,765
- Median Rent: $1,535
- Rent Range: $950 – $5,994
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,063 / 850
- Square Footage Range: 526 – 2,935
- Days on Market (Avg/Median): 53 / 22
- Days on Market Range: 1 – 324
- New Listings: 28
- Total Listings: 100
Rentals by Property Type
Apartment
$1,495
Median DOM: 42
Inventory: 68
MoM: 0.0%
Condo
$1,195
Median DOM: 1
Inventory: 11
MoM: 0.0%
Single Family
$2,200
Median DOM: 1
Inventory: 18
MoM: 0.0%
Townhouse
$1,595
Median DOM: 119
Inventory: 3
MoM: 0.0%
Apartment
Avg/Median Rent$1,676 / $1,495Range$1,050 – $5,994Rent per Sq Ft$2 / $2Sq Ft970 / 800DOM66 / 42New12Total68
Condo
Avg/Median Rent$1,423 / $1,195Range$1,100 – $1,975Rent per Sq Ft$2 / $2Sq Ft878 / 800DOM31 / 1New5Total11
Single Family
Avg/Median Rent$2,270 / $2,200Range$950 – $3,550Rent per Sq Ft$2 / $2Sq Ft1,334 / 1,222DOM5 / 1New11Total18
Townhouse
Avg/Median Rent$2,015 / $1,595Range$1,250 – $3,200Rent per Sq Ft$2 / $2Sq Ft1,018 / 800DOM155 / 119New0Total3
Rentals by Bedroom Count
1 Beds
Avg:$1,372Median:$1,380Range:$950 – $2,095PSF:$2 / $2Sq Ft:715 / 700DOM:59 / 37New:10Total:44
2 Beds
Avg:$1,713Median:$1,695Range:$1,250 – $2,400PSF:$2 / $2Sq Ft:1,031 / 1,000DOM:58 / 32New:12Total:39
3 Beds
Avg:$2,645Median:$2,490Range:$2,000 – $3,550PSF:$2 / $2Sq Ft:1,438 / 1,258DOM:16 / 3New:4Total:12
4 Beds
Avg:$3,524Median:$3,300Range:$2,395 – $5,994PSF:$2 / $1Sq Ft:2,285 / 2,400DOM:50 / 6New:2Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,372 | $1,380 | $950 – $2,095 | $2 / $2 | 715 / 700 | 59 / 37 | 10 | 44 |
| 2 Beds | $1,713 | $1,695 | $1,250 – $2,400 | $2 / $2 | 1,031 / 1,000 | 58 / 32 | 12 | 39 |
| 3 Beds | $2,645 | $2,490 | $2,000 – $3,550 | $2 / $2 | 1,438 / 1,258 | 16 / 3 | 4 | 12 |
| 4 Beds | $3,524 | $3,300 | $2,395 – $5,994 | $2 / $1 | 2,285 / 2,400 | 50 / 6 | 2 | 5 |
6-Month Sales Trend
Oct 2025
Median Price:$649,000Median DOM:14New:23Total:81
Nov 2025
Median Price:$639,950Median DOM:19New:10Total:62
Dec 2025
Median Price:$614,950Median DOM:55New:5Total:40
Jan 2026
Median Price:$650,000Median DOM:51New:13Total:37
Feb 2026
Median Price:$625,000Median DOM:12New:18Total:47
Mar 2026
Median Price:$610,000Median DOM:12New:2Total:48
6-Month Rental Trend
Oct 2025
Median Rent:$1,585Median DOM:22New:23Total:79
Nov 2025
Median Rent:$1,600Median DOM:34New:16Total:68
Dec 2025
Median Rent:$1,595Median DOM:56New:15Total:56
Jan 2026
Median Rent:$1,595Median DOM:24New:30Total:75
Feb 2026
Median Rent:$1,535Median DOM:26New:30Total:88
Mar 2026
Median Rent:$1,535Median DOM:22New:28Total:100
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market were unchanged, signaling steady 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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