ZIP 23227 Housing Market Report
Richmond Metro
Report period: March 2026
23227 Monthly Market Update – March 2026
ZIP 23227 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$379,500
+0.1%
Median DOM (Sales)
20
+33.3%
New Listings (Sales)
11
−65.6%
Median Rent
$1,295
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
72
−5.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Land (6 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($499,950 median)
Sales Market Overview
Median Price
$379,500
+0.1%
Median DOM
20
+33.3%
New Listings
11
−65.6%
Inventory
92
+3.4%
- Average Price: $399,843
- Median Price: $379,500
- Price Range: $9,950 – $679,995
- Price per Sq Ft (Avg/Median): $234 / $232
- Square Footage (Avg/Median): 1,806 / 1,608
- Square Footage Range: 1,011 – 4,443
- Days on Market (Avg/Median): 54 / 20
- Days on Market Range: 2 – 355
- New Listings: 11
- Total Listings: 92
Sales by Property Type
Condo
Avg/Median Price$451,162 / $375,000Range$370,000 – $634,700Price per Sq Ft$237 / $228Sq Ft1,957 / 1,753DOM49 / 19New0Total4
Land
Avg/Median Price$104,975 / $9,950Range$9,950 – $200,000Price per Sq Ft—Sq Ft—DOM28 / 6New0Total2
Multi-Family
Avg/Median Price$359,900 / $359,900Range$359,900 – $359,900Price per Sq Ft$156 / $156Sq Ft2,306 / 2,306DOM10 / 10New1Total1
Single Family
Avg/Median Price$434,854 / $429,000Range$199,500 – $679,995Price per Sq Ft$238 / $239Sq Ft1,950 / 1,692DOM29 / 10New7Total48
Townhouse
Avg/Median Price$365,894 / $368,990Range$323,835 – $409,990Price per Sq Ft$231 / $230Sq Ft1,594 / 1,525DOM92 / 26New3Total37
Sales by Bedroom Count
2 Beds
Avg:$392,778Median:$375,000Range:$348,990 – $449,950PSF:$263 / $242Sq Ft:1,522 / 1,642DOM:45 / 19New:0Total:5
3 Beds
Avg:$379,420Median:$369,900Range:$199,500 – $634,700PSF:$239 / $233Sq Ft:1,617 / 1,525DOM:70 / 26New:6Total:57
4 Beds
Avg:$454,581Median:$469,000Range:$299,950 – $679,995PSF:$220 / $225Sq Ft:2,198 / 2,061DOM:30 / 15New:3Total:24
5 Beds
Avg:$518,712Median:$499,950Range:$359,900 – $650,000PSF:$200 / $163Sq Ft:2,614 / 2,417DOM:9 / 8New:2Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $392,778 | $375,000 | $348,990 – $449,950 | $263 / $242 | 1,522 / 1,642 | 45 / 19 | 0 | 5 |
| 3 Beds | $379,420 | $369,900 | $199,500 – $634,700 | $239 / $233 | 1,617 / 1,525 | 70 / 26 | 6 | 57 |
| 4 Beds | $454,581 | $469,000 | $299,950 – $679,995 | $220 / $225 | 2,198 / 2,061 | 30 / 15 | 3 | 24 |
| 5 Beds | $518,712 | $499,950 | $359,900 – $650,000 | $200 / $163 | 2,614 / 2,417 | 9 / 8 | 2 | 4 |
Rental Market Overview
Median Rent
$1,295
0.0%
Median DOM
1
0.0%
New Listings
29
Inventory
72
−5.3%
- Average Rent: $1,743
- Median Rent: $1,295
- Rent Range: $775 – $5,200
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,190 / 997
- Square Footage Range: 525 – 2,995
- Days on Market (Avg/Median): 28 / 1
- Days on Market Range: 1 – 254
- New Listings: 29
- Total Listings: 72
Rentals by Property Type
Apartment
$1,175
Median DOM: 35
Inventory: 20
MoM: 0.0%
Condo
$1,150
Median DOM: 1
Inventory: 22
MoM: 0.0%
Single Family
$2,495
Median DOM: 1
Inventory: 24
MoM: 0.0%
Townhouse
$2,250
Median DOM: 33
Inventory: 6
MoM: 0.0%
Apartment
Avg/Median Rent$1,254 / $1,175Range$775 – $1,770Rent per Sq Ft$2 / $1Sq Ft759 / 748DOM73 / 35New2Total20
Condo
Avg/Median Rent$1,212 / $1,150Range$850 – $2,800Rent per Sq Ft$1 / $1Sq Ft900 / 900DOM1 / 1New17Total22
Single Family
Avg/Median Rent$2,572 / $2,495Range$850 – $5,200Rent per Sq Ft$1 / $1Sq Ft1,819 / 1,780DOM12 / 1New10Total24
Townhouse
Avg/Median Rent$1,999 / $2,250Range$1,150 – $2,500Rent per Sq Ft$1 / $2Sq Ft1,362 / 1,471DOM70 / 33New0Total6
Rentals by Bedroom Count
1 Beds
Avg:$1,082Median:$1,045Range:$775 – $1,636PSF:$2 / $2Sq Ft:808 / 625DOM:7 / 1New:8Total:18
2 Beds
Avg:$1,250Median:$1,250Range:$995 – $1,695PSF:$1 / $1Sq Ft:889 / 885DOM:30 / 1New:11Total:27
3 Beds
Avg:$2,311Median:$2,200Range:$1,150 – $5,200PSF:$1 / $1Sq Ft:1,457 / 1,509DOM:49 / 10New:5Total:16
4 Beds
Avg:$3,208Median:$2,995Range:$2,595 – $5,200PSF:$1 / $1Sq Ft:2,116 / 1,920DOM:13 / 1New:5Total:11
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,082 | $1,045 | $775 – $1,636 | $2 / $2 | 808 / 625 | 7 / 1 | 8 | 18 |
| 2 Beds | $1,250 | $1,250 | $995 – $1,695 | $1 / $1 | 889 / 885 | 30 / 1 | 11 | 27 |
| 3 Beds | $2,311 | $2,200 | $1,150 – $5,200 | $1 / $1 | 1,457 / 1,509 | 49 / 10 | 5 | 16 |
| 4 Beds | $3,208 | $2,995 | $2,595 – $5,200 | $1 / $1 | 2,116 / 1,920 | 13 / 1 | 5 | 11 |
6-Month Sales Trend
Oct 2025
Median Price:$384,990Median DOM:31New:27Total:95
Nov 2025
Median Price:$379,900Median DOM:32New:31Total:102
Dec 2025
Median Price:$379,900Median DOM:40New:10Total:84
Jan 2026
Median Price:$378,990Median DOM:33New:28Total:74
Feb 2026
Median Price:$378,990Median DOM:15New:32Total:89
Mar 2026
Median Price:$379,500Median DOM:20New:11Total:92
6-Month Rental Trend
Oct 2025
Median Rent:$1,350Median DOM:1New:44Total:89
Nov 2025
Median Rent:$1,295Median DOM:1New:35Total:74
Dec 2025
Median Rent:$1,350Median DOM:1New:35Total:68
Jan 2026
Median Rent:$1,350Median DOM:1New:37Total:71
Feb 2026
Median Rent:$1,295Median DOM:1New:43Total:76
Mar 2026
Median Rent:$1,295Median DOM:1New:29Total:72
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market lengthened, signaling slower 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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