ZIP 23231 Housing Market Report
Richmond Metro
Report period: March 2026
23231 Monthly Market Update – March 2026
ZIP 23231 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$354,993
+1.5%
Median DOM (Sales)
28
−30.0%
New Listings (Sales)
22
−43.6%
Median Rent
$1,650
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
101
−1.0%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (19 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($448,950 median)
Sales Market Overview
Median Price
$354,993
+1.5%
Median DOM
28
−30.0%
New Listings
22
−43.6%
Inventory
171
+6.9%
- Average Price: $351,926
- Median Price: $354,993
- Price Range: $25,000 – $975,000
- Price per Sq Ft (Avg/Median): $232 / $222
- Square Footage (Avg/Median): 1,742 / 1,716
- Square Footage Range: 688 – 4,150
- Days on Market (Avg/Median): 64 / 28
- Days on Market Range: 1 – 358
- New Listings: 22
- Total Listings: 171
Sales by Property Type
Condo
Avg/Median Price$452,486 / $410,000Range$299,900 – $687,000Price per Sq Ft$321 / $301Sq Ft1,440 / 1,507DOM48 / 27New2Total14
Land
Avg/Median Price$144,218 / $94,950Range$25,000 – $700,000Price per Sq Ft—Sq Ft—DOM162 / 83New2Total22
Single Family
Avg/Median Price$368,016 / $367,900Range$142,900 – $975,000Price per Sq Ft$221 / $208Sq Ft1,763 / 1,719DOM50 / 19New17Total130
Townhouse
Avg/Median Price$565,940 / $579,900Range$320,000 – $769,900Price per Sq Ft$270 / $267Sq Ft2,059 / 2,094DOM61 / 54New1Total5
Sales by Bedroom Count
1 Beds
Avg:$372,980Median:$300,000Range:$299,900 – $555,000PSF:$342 / $336Sq Ft:1,135 / 893DOM:32 / 22New:1Total:5
2 Beds
Avg:$347,600Median:$275,000Range:$142,900 – $687,000PSF:$285 / $290Sq Ft:1,220 / 1,095DOM:47 / 30New:5Total:27
3 Beds
Avg:$353,777Median:$325,000Range:$159,950 – $975,000PSF:$234 / $237Sq Ft:1,523 / 1,440DOM:47 / 16New:9Total:70
4 Beds
Avg:$446,668Median:$439,900Range:$300,000 – $699,900PSF:$191 / $183Sq Ft:2,378 / 2,260DOM:57 / 42New:4Total:38
5 Beds
Avg:$477,468Median:$448,950Range:$385,000 – $537,900PSF:$178 / $175Sq Ft:2,710 / 2,449DOM:83 / 24New:0Total:8
7 Beds
Avg:$199,000Median:$199,000Range:$199,000 – $199,000PSF:$87 / $87Sq Ft:2,300 / 2,300DOM:5 / 5New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $372,980 | $300,000 | $299,900 – $555,000 | $342 / $336 | 1,135 / 893 | 32 / 22 | 1 | 5 |
| 2 Beds | $347,600 | $275,000 | $142,900 – $687,000 | $285 / $290 | 1,220 / 1,095 | 47 / 30 | 5 | 27 |
| 3 Beds | $353,777 | $325,000 | $159,950 – $975,000 | $234 / $237 | 1,523 / 1,440 | 47 / 16 | 9 | 70 |
| 4 Beds | $446,668 | $439,900 | $300,000 – $699,900 | $191 / $183 | 2,378 / 2,260 | 57 / 42 | 4 | 38 |
| 5 Beds | $477,468 | $448,950 | $385,000 – $537,900 | $178 / $175 | 2,710 / 2,449 | 83 / 24 | 0 | 8 |
| 7 Beds | $199,000 | $199,000 | $199,000 – $199,000 | $87 / $87 | 2,300 / 2,300 | 5 / 5 | 1 | 1 |
Rental Market Overview
Median Rent
$1,650
0.0%
Median DOM
1
0.0%
New Listings
38
Inventory
101
−1.0%
- Average Rent: $1,686
- Median Rent: $1,650
- Rent Range: $646 – $3,800
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,099 / 900
- Square Footage Range: 450 – 3,310
- Days on Market (Avg/Median): 24 / 1
- Days on Market Range: 1 – 316
- New Listings: 38
- Total Listings: 101
Rentals by Property Type
Apartment
$1,200
Median DOM: 65
Inventory: 10
MoM: 0.0%
Condo
$1,095
Median DOM: 1
Inventory: 23
MoM: 0.0%
Single Family
$1,850
Median DOM: 1
Inventory: 55
MoM: 0.0%
Townhouse
$1,295
Median DOM: 22
Inventory: 13
MoM: 0.0%
Apartment
Avg/Median Rent$1,243 / $1,200Range$646 – $1,950Rent per Sq Ft$2 / $2Sq Ft722 / 661DOM134 / 65New0Total10
Condo
Avg/Median Rent$1,121 / $1,095Range$895 – $1,295Rent per Sq Ft$2 / $2Sq Ft651 / 600DOM2 / 1New17Total23
Single Family
Avg/Median Rent$1,913 / $1,850Range$965 – $2,800Rent per Sq Ft$2 / $2Sq Ft1,242 / 1,044DOM15 / 1New16Total55
Townhouse
Avg/Median Rent$2,067 / $1,295Range$995 – $3,800Rent per Sq Ft$2 / $2Sq Ft1,448 / 1,624DOM30 / 22New5Total13
Rentals by Bedroom Count
1 Beds
Avg:$1,407Median:$1,499Range:$895 – $1,950PSF:$2 / $2Sq Ft:652 / 650DOM:49 / 1New:2Total:18
2 Beds
Avg:$1,375Median:$1,195Range:$646 – $3,000PSF:$2 / $2Sq Ft:830 / 846DOM:15 / 1New:21Total:40
3 Beds
Avg:$2,066Median:$1,900Range:$1,577 – $3,800PSF:$2 / $2Sq Ft:1,337 / 1,100DOM:30 / 6New:11Total:31
4 Beds
Avg:$2,157Median:$2,150Range:$1,695 – $2,795PSF:$1 / $1Sq Ft:1,972 / 1,777DOM:5 / 1New:3Total:11
5 Beds
Avg:$2,200Median:$2,200Range:$2,200 – $2,200PSF:$1 / $1Sq Ft:1,716 / 1,716DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,407 | $1,499 | $895 – $1,950 | $2 / $2 | 652 / 650 | 49 / 1 | 2 | 18 |
| 2 Beds | $1,375 | $1,195 | $646 – $3,000 | $2 / $2 | 830 / 846 | 15 / 1 | 21 | 40 |
| 3 Beds | $2,066 | $1,900 | $1,577 – $3,800 | $2 / $2 | 1,337 / 1,100 | 30 / 6 | 11 | 31 |
| 4 Beds | $2,157 | $2,150 | $1,695 – $2,795 | $1 / $1 | 1,972 / 1,777 | 5 / 1 | 3 | 11 |
| 5 Beds | $2,200 | $2,200 | $2,200 – $2,200 | $1 / $1 | 1,716 / 1,716 | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Oct 2025
Median Price:$349,999Median DOM:44New:60Total:207
Nov 2025
Median Price:$338,000Median DOM:51New:33Total:196
Dec 2025
Median Price:$335,000Median DOM:62New:20Total:152
Jan 2026
Median Price:$340,000Median DOM:49New:46Total:146
Feb 2026
Median Price:$349,900Median DOM:40New:39Total:160
Mar 2026
Median Price:$354,993Median DOM:28New:22Total:171
6-Month Rental Trend
Oct 2025
Median Rent:$1,295Median DOM:1New:75Total:103
Nov 2025
Median Rent:$1,295Median DOM:1New:82Total:116
Dec 2025
Median Rent:$1,577Median DOM:1New:74Total:120
Jan 2026
Median Rent:$1,650Median DOM:1New:63Total:110
Feb 2026
Median Rent:$1,650Median DOM:1New:44Total:102
Mar 2026
Median Rent:$1,650Median DOM:1New:38Total:101
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving 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.
230052303023047230592306023063230692307523083231032311123112231132311423116231202312423139231402314623150231732321923220232212322223223232242322523226+12 more
← Back to Richmond Metro