ZIP 23228 Housing Market Report
Richmond Metro
Report period: March 2026
23228 Monthly Market Update – March 2026
ZIP 23228 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$349,000
+2.7%
Median DOM (Sales)
15
−6.3%
New Listings (Sales)
7
−78.8%
Median Rent
$1,900
+0.3%
Median DOM (Rental)
14
+16.7%
Total Rental Listings
79
+1.3%
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 (10 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 4 Beds ($425,000 median)
Sales Market Overview
Median Price
$349,000
+2.7%
Median DOM
15
−6.3%
New Listings
7
−78.8%
Inventory
111
+2.8%
- Average Price: $352,761
- Median Price: $349,000
- Price Range: $9,970 – $724,000
- Price per Sq Ft (Avg/Median): $243 / $241
- Square Footage (Avg/Median): 1,533 / 1,440
- Square Footage Range: 750 – 2,929
- Days on Market (Avg/Median): 36 / 15
- Days on Market Range: 1 – 249
- New Listings: 7
- Total Listings: 111
Sales by Property Type
Condo
Avg/Median Price$260,557 / $215,000Range$149,950 – $416,999Price per Sq Ft$204 / $215Sq Ft1,351 / 1,052DOM51 / 53New1Total13
Land
Avg/Median Price$162,123 / $226,500Range$9,970 – $249,900Price per Sq Ft—Sq Ft—DOM140 / 146New0Total3
Single Family
Avg/Median Price$382,395 / $364,500Range$220,000 – $724,000Price per Sq Ft$254 / $256Sq Ft1,571 / 1,460DOM30 / 10New6Total79
Townhouse
Avg/Median Price$317,102 / $294,900Range$189,000 – $450,000Price per Sq Ft$217 / $221Sq Ft1,495 / 1,200DOM32 / 22New0Total16
Sales by Bedroom Count
Studio
Avg:$255,000Median:$255,000Range:$255,000 – $255,000PSF:$223 / $223Sq Ft:1,144 / 1,144DOM:12 / 12New:0Total:1
1 Beds
Avg:$149,950Median:$149,950Range:$149,950 – $149,950PSF:$164 / $164Sq Ft:914 / 914DOM:53 / 53New:0Total:1
2 Beds
Avg:$266,823Median:$260,000Range:$189,000 – $389,950PSF:$246 / $238Sq Ft:1,102 / 1,120DOM:42 / 22New:2Total:19
3 Beds
Avg:$357,493Median:$349,950Range:$200,000 – $724,000PSF:$248 / $247Sq Ft:1,500 / 1,440DOM:26 / 13New:4Total:63
4 Beds
Avg:$443,762Median:$425,000Range:$270,000 – $650,000PSF:$237 / $243Sq Ft:1,935 / 1,849DOM:44 / 9New:1Total:21
5 Beds
Avg:$451,467Median:$400,000Range:$364,500 – $589,900PSF:$182 / $202Sq Ft:2,488 / 2,592DOM:53 / 55New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $255,000 | $255,000 | $255,000 – $255,000 | $223 / $223 | 1,144 / 1,144 | 12 / 12 | 0 | 1 |
| 1 Beds | $149,950 | $149,950 | $149,950 – $149,950 | $164 / $164 | 914 / 914 | 53 / 53 | 0 | 1 |
| 2 Beds | $266,823 | $260,000 | $189,000 – $389,950 | $246 / $238 | 1,102 / 1,120 | 42 / 22 | 2 | 19 |
| 3 Beds | $357,493 | $349,950 | $200,000 – $724,000 | $248 / $247 | 1,500 / 1,440 | 26 / 13 | 4 | 63 |
| 4 Beds | $443,762 | $425,000 | $270,000 – $650,000 | $237 / $243 | 1,935 / 1,849 | 44 / 9 | 1 | 21 |
| 5 Beds | $451,467 | $400,000 | $364,500 – $589,900 | $182 / $202 | 2,488 / 2,592 | 53 / 55 | 0 | 3 |
Rental Market Overview
Median Rent
$1,900
+0.3%
Median DOM
14
+16.7%
New Listings
16
Inventory
79
+1.3%
- Average Rent: $1,891
- Median Rent: $1,900
- Rent Range: $917 – $3,295
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,261 / 1,188
- Square Footage Range: 288 – 2,769
- Days on Market (Avg/Median): 42 / 14
- Days on Market Range: 1 – 334
- New Listings: 16
- Total Listings: 79
Rentals by Property Type
Apartment
$1,320
Median DOM: 120
Inventory: 15
MoM: +0.3%
Condo
$1,900
Median DOM: 8
Inventory: 3
MoM: +0.3%
Single Family
$1,995
Median DOM: 1
Inventory: 33
MoM: +0.3%
Townhouse
$1,995
Median DOM: 23
Inventory: 27
MoM: +0.3%
Apartment
Avg/Median Rent$1,313 / $1,320Range$917 – $1,850Rent per Sq Ft$2 / $2Sq Ft691 / 635DOM130 / 120New0Total15
Condo
Avg/Median Rent$1,943 / $1,900Range$1,480 – $2,450Rent per Sq Ft$2 / $2Sq Ft929 / 912DOM9 / 8New1Total3
Multi-Family
Avg/Median Rent$1,350 / $1,350Range$1,350 – $1,350Rent per Sq Ft$2 / $2Sq Ft630 / 630DOM22 / 22New0Total1
Single Family
Avg/Median Rent$2,093 / $1,995Range$1,400 – $3,295Rent per Sq Ft$2 / $2Sq Ft1,428 / 1,376DOM21 / 1New11Total33
Townhouse
Avg/Median Rent$1,980 / $1,995Range$1,410 – $2,550Rent per Sq Ft$1 / $1Sq Ft1,416 / 1,335DOM40 / 23New4Total27
Rentals by Bedroom Count
Studio
Avg:$1,230Median:$1,230Range:$1,230 – $1,230PSF:$4 / $4Sq Ft:288 / 288DOM:92 / 92New:0Total:1
1 Beds
Avg:$1,318Median:$1,325Range:$917 – $1,540PSF:$2 / $2Sq Ft:696 / 675DOM:160 / 146New:0Total:14
2 Beds
Avg:$1,787Median:$1,750Range:$1,095 – $2,450PSF:$2 / $2Sq Ft:1,052 / 1,120DOM:28 / 21New:2Total:15
3 Beds
Avg:$2,034Median:$1,975Range:$1,400 – $2,680PSF:$1 / $1Sq Ft:1,446 / 1,360DOM:24 / 6New:11Total:42
4 Beds
Avg:$2,366Median:$2,250Range:$2,195 – $2,800PSF:$1 / $1Sq Ft:1,778 / 1,522DOM:27 / 13New:2Total:6
5 Beds
Avg:$3,295Median:$3,295Range:$3,295 – $3,295PSF:$1 / $1Sq Ft:2,290 / 2,290DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,230 | $1,230 | $1,230 – $1,230 | $4 / $4 | 288 / 288 | 92 / 92 | 0 | 1 |
| 1 Beds | $1,318 | $1,325 | $917 – $1,540 | $2 / $2 | 696 / 675 | 160 / 146 | 0 | 14 |
| 2 Beds | $1,787 | $1,750 | $1,095 – $2,450 | $2 / $2 | 1,052 / 1,120 | 28 / 21 | 2 | 15 |
| 3 Beds | $2,034 | $1,975 | $1,400 – $2,680 | $1 / $1 | 1,446 / 1,360 | 24 / 6 | 11 | 42 |
| 4 Beds | $2,366 | $2,250 | $2,195 – $2,800 | $1 / $1 | 1,778 / 1,522 | 27 / 13 | 2 | 6 |
| 5 Beds | $3,295 | $3,295 | $3,295 – $3,295 | $1 / $1 | 2,290 / 2,290 | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Oct 2025
Median Price:$349,900Median DOM:21New:44Total:117
Nov 2025
Median Price:$339,000Median DOM:23New:29Total:106
Dec 2025
Median Price:$339,950Median DOM:35New:20Total:95
Jan 2026
Median Price:$350,000Median DOM:28New:33Total:91
Feb 2026
Median Price:$339,950Median DOM:16New:33Total:108
Mar 2026
Median Price:$349,000Median DOM:15New:7Total:111
6-Month Rental Trend
Oct 2025
Median Rent:$1,850Median DOM:9New:23Total:57
Nov 2025
Median Rent:$1,850Median DOM:18New:21Total:52
Dec 2025
Median Rent:$1,795Median DOM:16New:20Total:56
Jan 2026
Median Rent:$1,850Median DOM:14New:26Total:65
Feb 2026
Median Rent:$1,895Median DOM:12New:27Total:78
Mar 2026
Median Rent:$1,900Median DOM:14New:16Total:79
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. 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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