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Richmond, VA 23225 Real Estate Market Report

ZIP Code: 23225
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.


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.

Analysis Window
90 Days
Total Properties Analyzed
60
Active Listings
15
Sold Properties
45

Market Metrics

Median Listing Price
$339,950
Median Sold Price
$375,000
Median Price per Sqft
$246/sqft

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.


Rental Market

Median Market Rent
$1,679

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.


Property Taxes

Property Tax Rate
1.04%

Liquidity & Velocity

Median Days on Market
247
Sale-to-List Ratio
100.0%

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.


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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
moderate

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Richmond, VA are averaging 6.4%, reflecting a stable market environment for property owners compared to earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.


Key Findings

  1. The primary market value is the median sold price 375,000, which reflects recent transaction activity; paired with a median days on market of 247, this suggests slower sales velocity rather than rapid turnover.

  2. The median listing price 339,950 sits below the median sold price 375,000, a divergence that may indicate sampling differences or pricing friction between seller expectations and final sale levels, so underwriters should prefer sold-price comps for valuation.

  3. The median price per square foot 246 and median market rent 1,679 both support the view of stable underlying value drivers; combined with rent year-over-year trend being up, this suggests continued rental demand that can underpin long-term price stability.

  4. Market temperature is reported as neutral with price year-over-year trend noted as up and interest rate pressure as moderate (current 30-year fixed mortgage rates averaging 6.4%); this configuration implies a balanced market where pricing is stable but sensitive to rate movement, so consider conservative financing stress tests for acquisitions.


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.

Recent Transactions

2961 Westchester Rd, Richmond, VA 23225
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

4 beds
2 baths
2,707 sqft
$775,000
Mar 1, 2026
$286/sqft/sqft
5411 Dorchester Rd, Richmond, VA 23225
Premium

Sold above market average

3 beds
2 baths
2,084 sqft
$726,250
Feb 1, 2026
$348/sqft/sqft
98 days on market
4009 Dunston Ave, Richmond, VA 23225
Premium

Sold above market average

2 beds
1 baths
760 sqft
$675,000
Mar 1, 2026
$888/sqft/sqft
163 days on market
5607 Jahnke Rd, Richmond, VA 23225
Market Benchmark

Sold at market average

4 beds
2 baths
1,961 sqft
$440,000
Mar 1, 2026
$224/sqft/sqft
107 days on market
5606 Southern Pine Dr, Richmond, VA 23225
Premium

Sold above market average

2 beds
2 baths
1,475 sqft
$435,000
Mar 1, 2026
$295/sqft/sqft
86 days on market
1669 Bilder Ct, Richmond, VA 23225
Market Benchmark

Sold at market average

3 beds
1 baths
1,864 sqft
$434,500
Mar 1, 2026
$233/sqft/sqft
144 days on market
6008 La Veta Dr, Richmond, VA 23225
Value

Sold below market average

3 beds
1 baths
1,008 sqft
$149,901
Mar 1, 2026
$149/sqft/sqft
920 Hill Top Dr, Richmond, VA 23225
Value

Sold below market average

- beds
1 baths
747 sqft
$138,000
Mar 1, 2026
$185/sqft/sqft

Richmond, VA 23225 Real Estate Market Report

ZIP Code: 23225
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.


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.

Analysis Window
90 Days
Total Properties Analyzed
49
Active Listings
4
Sold Properties
45

Market Metrics

Median Listing Price
$297,500
Median Sold Price
$259,000
Median Price per Sqft
$190/sqft

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.


Rental Market

Median Market Rent
$1,050

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.


Property Taxes

Property Tax Rate
0.97%

Liquidity & Velocity

Median Days on Market
360
Sale-to-List Ratio
100.0%

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.


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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
moderate

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Richmond, VA are averaging 6.4%, reflecting a stable market environment for property owners compared to earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.


Key Findings

  1. The primary market value indicator is the $259,000 median sold price, which represents the most recent transactional benchmark for SFR and condo sales and suggests pricing stability given the broader neutral market temperature.

  2. With a 360 median days on market, transaction velocity appears slow relative to typical turnover expectations, which may indicate increased buyer selectivity or pricing friction and suggests sellers should consider targeted pricing or repairs to accelerate offers. moderate interest rate pressure (current mortgage environment noted at 6.4%) may be contributing to this slower velocity.

  3. The $190 median price per square foot, combined with an upward price year-over-year trend, indicates steady per-unit value appreciation; investors and pricing strategists should prioritize comparable per-square-foot justification when setting offers or listing prices. up

  4. Rental fundamentals show a $1,050 median market rent with rent year-over-year trending up, signaling stronger cashflow prospects for landlord-occupied units; however, evaluate acquisition pricing against the measured sales pace to ensure hold-period assumptions remain realistic.


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.

Recent Transactions

2956 Hathaway Rd Apt 1212, Richmond, VA 23225
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2 baths
1,729 sqft
$385,000
Jan 1, 2026
$223/sqft/sqft
1911 days on market
2956 Hathaway Rd Apt 1205, Richmond, VA 23225
Market Benchmark

Sold at market average

3 beds
2 baths
1,729 sqft
$350,000
Dec 1, 2025
$202/sqft/sqft
333 days on market
2956 Hathaway Rd Apt 606, Richmond, VA 23225
Market Benchmark

Sold at market average

3 beds
2 baths
1,729 sqft
$350,000
Jan 1, 2026
$202/sqft/sqft
323 days on market
2956 Hathaway Rd Apt 1204, Richmond, VA 23225
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,561 sqft
$280,000
Dec 1, 2025
$179/sqft/sqft
1848 days on market
2956 Hathaway Rd Apt 1007, Richmond, VA 23225
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,423 sqft
$270,000
Jan 1, 2026
$190/sqft/sqft
591 days on market
2956 Hathaway Rd Apt 210, Richmond, VA 23225
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,561 sqft
$268,000
Jan 1, 2026
$172/sqft/sqft
387 days on market
1508 Stowmarket Ct, Richmond, VA 23225
Value

Sold below market average

2 beds
1 baths
976 sqft
$145,000
Jan 1, 2026
$149/sqft/sqft
189 days on market
1508 Eddystone Ct # B, Richmond, VA 23225
Value

Sold below market average

3 beds
1 baths
1,084 sqft
$142,000
Dec 1, 2025
$131/sqft/sqft
253 days on market

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$612/mo
23225 Avg Rent
23225 Cost to Own
Rent$1,679
Own$2,291

20% down, 6.3% rate, 1.0% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

23225 Avg nightly rate
23225 Avg occupancy (days/year)
Nightly rate$182/night
Occupancy174 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

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