ZIP 23238 Housing Market Report
Richmond Metro
Report period: March 2026
23238 Monthly Market Update – March 2026
ZIP 23238 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$575,950
+1.1%
Median DOM (Sales)
14
−17.6%
New Listings (Sales)
4
−77.8%
Median Rent
$1,800
+1.4%
Median DOM (Rental)
32
+33.3%
Total Rental Listings
35
−2.8%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Condo (6 DOM)
- Fastest renting: Single Family (5 DOM)
- Strongest bedroom: 5 Beds ($980,000 median)
Sales Market Overview
Median Price
$575,950
+1.1%
Median DOM
14
−17.6%
New Listings
4
−77.8%
Inventory
63
−6.0%
- Average Price: $764,583
- Median Price: $575,950
- Price Range: $187,900 – $3,399,000
- Price per Sq Ft (Avg/Median): $264 / $248
- Square Footage (Avg/Median): 2,781 / 2,434
- Square Footage Range: 999 – 6,841
- Days on Market (Avg/Median): 38 / 14
- Days on Market Range: 2 – 350
- New Listings: 4
- Total Listings: 63
Sales by Property Type
Condo
Avg/Median Price$207,962 / $199,000Range$187,900 – $225,000Price per Sq Ft$184 / $167Sq Ft1,145 / 1,090DOM28 / 6New0Total4
Land
Avg/Median Price$280,000 / $250,000Range$250,000 – $310,000Price per Sq Ft—Sq Ft—DOM64 / 15New0Total2
Single Family
Avg/Median Price$978,727 / $680,000Range$349,000 – $3,399,000Price per Sq Ft$279 / $252Sq Ft3,368 / 2,985DOM37 / 14New2Total40
Townhouse
Avg/Median Price$448,691 / $410,000Range$249,950 – $699,999Price per Sq Ft$248 / $258Sq Ft1,782 / 1,942DOM37 / 19New2Total17
Sales by Bedroom Count
2 Beds
Avg:$309,144Median:$287,500Range:$187,900 – $599,950PSF:$225 / $225Sq Ft:1,358 / 1,127DOM:30 / 12New:0Total:9
3 Beds
Avg:$508,303Median:$435,000Range:$219,950 – $945,000PSF:$251 / $260Sq Ft:1,978 / 1,942DOM:30 / 14New:2Total:19
4 Beds
Avg:$923,317Median:$600,000Range:$349,000 – $1,980,000PSF:$285 / $243Sq Ft:3,080 / 2,778DOM:45 / 11New:2Total:21
5 Beds
Avg:$1,345,818Median:$980,000Range:$585,000 – $3,399,000PSF:$279 / $223Sq Ft:4,659 / 4,394DOM:43 / 17New:0Total:11
6 Beds
Avg:$975,000Median:$975,000Range:$975,000 – $975,000PSF:$252 / $252Sq Ft:3,875 / 3,875DOM:6 / 6New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $309,144 | $287,500 | $187,900 – $599,950 | $225 / $225 | 1,358 / 1,127 | 30 / 12 | 0 | 9 |
| 3 Beds | $508,303 | $435,000 | $219,950 – $945,000 | $251 / $260 | 1,978 / 1,942 | 30 / 14 | 2 | 19 |
| 4 Beds | $923,317 | $600,000 | $349,000 – $1,980,000 | $285 / $243 | 3,080 / 2,778 | 45 / 11 | 2 | 21 |
| 5 Beds | $1,345,818 | $980,000 | $585,000 – $3,399,000 | $279 / $223 | 4,659 / 4,394 | 43 / 17 | 0 | 11 |
| 6 Beds | $975,000 | $975,000 | $975,000 – $975,000 | $252 / $252 | 3,875 / 3,875 | 6 / 6 | 0 | 1 |
Rental Market Overview
Median Rent
$1,800
+1.4%
Median DOM
32
+33.3%
New Listings
5
Inventory
35
−2.8%
- Average Rent: $2,098
- Median Rent: $1,800
- Rent Range: $1,195 – $5,850
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,296 / 1,248
- Square Footage Range: 558 – 3,065
- Days on Market (Avg/Median): 43 / 32
- Days on Market Range: 1 – 288
- New Listings: 5
- Total Listings: 35
Rentals by Property Type
Apartment
$1,464
Median DOM: 16
Inventory: 10
MoM: +1.4%
Condo
$1,775
Median DOM: 49
Inventory: 3
MoM: +1.4%
Single Family
$1,800
Median DOM: 5
Inventory: 10
MoM: +1.4%
Townhouse
$1,995
Median DOM: 32
Inventory: 12
MoM: +1.4%
Apartment
Avg/Median Rent$1,515 / $1,464Range$1,195 – $2,300Rent per Sq Ft$2 / $2Sq Ft818 / 780DOM16 / 16New0Total10
Condo
Avg/Median Rent$1,807 / $1,775Range$1,695 – $1,950Rent per Sq Ft$2 / $2Sq Ft1,179 / 1,090DOM46 / 49New0Total3
Single Family
Avg/Median Rent$2,828 / $1,800Range$1,400 – $5,850Rent per Sq Ft$2 / $1Sq Ft1,793 / 1,428DOM33 / 5New2Total10
Townhouse
Avg/Median Rent$2,048 / $1,995Range$1,695 – $2,899Rent per Sq Ft$2 / $2Sq Ft1,310 / 1,360DOM52 / 32New3Total12
Rentals by Bedroom Count
1 Beds
Avg:$1,375Median:$1,338Range:$1,195 – $1,539PSF:$2 / $2Sq Ft:719 / 735DOM:—New:0Total:7
2 Beds
Avg:$1,708Median:$1,700Range:$1,400 – $2,000PSF:$2 / $2Sq Ft:1,063 / 1,009DOM:31 / 43New:2Total:11
3 Beds
Avg:$2,087Median:$1,995Range:$1,650 – $2,899PSF:$1 / $1Sq Ft:1,407 / 1,380DOM:49 / 16New:2Total:12
4 Beds
Avg:$2,823Median:$2,775Range:$2,695 – $3,000PSF:$1 / $1Sq Ft:2,147 / 2,088DOM:14 / 5New:1Total:3
5 Beds
Avg:$5,750Median:$5,650Range:$5,650 – $5,850PSF:$2 / $2Sq Ft:2,708 / 2,352DOM:97 / 40New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,375 | $1,338 | $1,195 – $1,539 | $2 / $2 | 719 / 735 | — | 0 | 7 |
| 2 Beds | $1,708 | $1,700 | $1,400 – $2,000 | $2 / $2 | 1,063 / 1,009 | 31 / 43 | 2 | 11 |
| 3 Beds | $2,087 | $1,995 | $1,650 – $2,899 | $1 / $1 | 1,407 / 1,380 | 49 / 16 | 2 | 12 |
| 4 Beds | $2,823 | $2,775 | $2,695 – $3,000 | $1 / $1 | 2,147 / 2,088 | 14 / 5 | 1 | 3 |
| 5 Beds | $5,750 | $5,650 | $5,650 – $5,850 | $2 / $2 | 2,708 / 2,352 | 97 / 40 | 0 | 2 |
6-Month Sales Trend
Oct 2025
Median Price:$539,950Median DOM:17New:27Total:108
Nov 2025
Median Price:$525,000Median DOM:28New:25Total:101
Dec 2025
Median Price:$549,900Median DOM:38New:18Total:91
Jan 2026
Median Price:$567,000Median DOM:31New:24Total:78
Feb 2026
Median Price:$569,950Median DOM:17New:18Total:67
Mar 2026
Median Price:$575,950Median DOM:14New:4Total:63
6-Month Rental Trend
Oct 2025
Median Rent:$1,950Median DOM:2New:12Total:32
Nov 2025
Median Rent:$1,900Median DOM:14New:16Total:35
Dec 2025
Median Rent:$1,850Median DOM:17New:13Total:39
Jan 2026
Median Rent:$1,844Median DOM:20New:10Total:36
Feb 2026
Median Rent:$1,775Median DOM:24New:8Total:36
Mar 2026
Median Rent:$1,800Median DOM:32New:5Total:35
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market declined, signaling improving buyer activity. Rental pricing increased, 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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