Richmond, VA 23226 Real Estate Market Report

ZIP Code: 23226
Report Date: May 2026
Market Temperature: HOT
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

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.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Richmond, VA are 6.4% compared to 5.7% for typical loans originated in early 2026.

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

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Key Findings

1. The primary market value signal is the median sold price, with a 504,475 median sold price serving as the most reliable indicator of recent transaction activity and underlying neighborhood valuation (use sold-price comps for pricing guidance).

2. There is a notable gap between seller expectations and recent transactions—the 1,199,999 median listing price sits well above median sold prices, which may indicate pricing friction and suggests sellers should align list strategies to recent sold-price comps to avoid extended time on market.

3. Liquidity appears constrained in the analyzed sample with slower transaction velocity: the 305 median days on market suggests properties may require longer marketing windows and more targeted pricing or concessions to convert buyers (slower sales velocity).

4. Market-level momentum is positive: prices are trending up and the market temperature is hot, while interest rate pressure is moderate (current comparison: 30-year fixed ~6.4% vs 5.7% for early-2026 originations), indicating buyers face some financing headwinds but demand remains strong—consider prioritizing competitively priced, well-condition listings to capture active buyers (hot market).

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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.

Richmond, VA 23226 Real Estate Market Report

ZIP Code: 23226
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo 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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Richmond, VA are 6.4% compared to 5.7% for typical loans originated in early 2026.

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

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Key Findings

1. The neighborhood's primary market indicator, the median sold price, is $650,000, with a median price per square foot of $373, suggesting recent transaction values remain elevated in desirable pockets of 23226 and supporting the broader upward price trend. up

2. Liquidity appears slower: the median days on market is 374, which points to slower sales velocity despite the market temperature being described as hot and the price year-over-year trend being up — this combination may indicate pricing friction or that higher-priced transactions are taking longer to close.

3. Inventory conditions show elevated supply relative to sales activity and moderate transaction volume, which may suggest sellers need realistic pricing to convert list-to-sold outcomes; interpret recent sales as representative transactions rather than rapid turnover.

4. Rental and financing context: the median market rent is $1,695, with rent year-over-year trend up, while interest rate pressure is moderate. Current 30-year fixed mortgage rates for properties in Richmond, VA are 6.4% compared to 5.7% for typical loans originated in early 2026, which may temper some buyer urgency and affects affordability calculations.

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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.