Richmond, VA 23222 Real Estate Market Report

ZIP Code: 23222
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The primary market signal is the median sold price at 299,000, which anchors recent transaction value and should be treated as the most reliable indicator of current market worth for SFR and condo properties in ZIP 23222.

2. The gap between the median listing price of 284,995 and the median sold price of 299,000 may indicate pricing friction or seller willingness to accept offers above ask in selected cases; this dynamic appears to signal negotiated outcomes rather than broad discounting.

3. Liquidity appears slower based on the median days on market of 218, which suggests extended marketing periods and moderate sales velocity rather than rapid turnover; elevated inventory relative to sales activity may be contributing to this pacing.

4. Market context shows prices and rents trending up—price YoY trend: up and rent YoY trend: up—while interest rate pressure is moderate (caution); investors and owner-occupiers should factor rising rents (median market rent 1,449) alongside interest-rate sensitivity when evaluating near-term acquisitions.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.