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Chimborazo Park Church Hill Central Church Hill North East Shockoe Bottom St. John's Church Tobacco Row (Shockoe Valley) Union Hill

RICHMOND, VA 23223

Real Estate Market Report  ·  Henrico County
Balanced Market
March 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23223

Chimborazo Park · Church Hill Central · Church Hill North · East · Shockoe Bottom · St. John's Church · Tobacco Row (Shockoe Valley) · Union Hill

Market Analysis

Data as of March 2026. Source: Realtor.com.

The RICHMOND, VA real estate market (23223) currently shows 180 active listings, with 80 pending sales. Homes are averaging 33 days on the market before going under contract.

Inventory has increased compared to last year, with 32 more homes available — giving buyers more choice.

Homes are selling faster, averaging 33 days on market compared to 43 days last year.

The median listing price has fallen 4.2% year-over-year, from $369,900 to $354,450.

Whether you are buying or selling in RICHMOND, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 55,072  ·  Density: 1,275.5/mi²  ·  Median household income: $52,246

Typical home value: $211,479  ·  Homeownership: 43.8%

Market Overview

Active Listings
180
⇧ 21.6% vs 148 last year
Pending
80
44% pending ratio
Median Price
$354,450
⇩ 4.2% vs $369,900 last year
Average Price
$409,019
⇧ 1.1% vs $404,426 last year
Days on Market
33
⇩ 23.3% vs 43 days last year

Price Per Square Foot

Median $/sqft
$237
⇩ 1.3% vs $240/sqft last year
Median Home Size
1,506 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 180 this year vs 148 last year
  • Days on market: 33 now vs 43 last year

Median & Average Pricing

Year over Year
  • Median: $354,450 (-4.2% YoY)
  • Average: $409,019 (+1.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 14.4 miles — 884 listings ($447,397,554 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23223Richmond, VA 232230.0 mi159$62,969,406$354,500$396,034
23219Richmond, VA 232193.2 mi12$6,402,732$389,000$533,561
23220Richmond, VA 232204.5 mi71$37,718,821$432,250$531,251
23221Richmond, VA 232216.1 mi31$21,759,644$657,750$701,924
23230Richmond, VA 232306.5 mi30$17,622,540$528,725$587,418
23150Sandston, VA 231507.6 mi52$17,503,096$324,600$336,598
23226Richmond, VA 232267.8 mi32$31,809,216$669,950$994,038
23116Mechanicsville, VA 231168.4 mi91$51,495,990$554,950$565,890
23234Richmond, VA 232348.6 mi124$42,162,976$321,225$340,024
23235Richmond, VA 2323510.6 mi82$44,485,164$453,738$542,502
23060Glen Allen, VA 2306011.1 mi78$42,343,782$473,688$542,869
23141Quinton, VA 2314112.3 mi77$47,735,842$649,990$619,946
23836Chester, VA 2383614.4 mi45$23,388,345$510,000$519,741

Frequently Asked Questions

How many homes are for sale in RICHMOND, VA 23223?

As of March 2026, there are 180 active listings in RICHMOND, VA (zip code 23223), compared to 148 the prior year.

What is the median home price in RICHMOND, VA 23223?

The median listing price in RICHMOND, VA 23223 is $354,450 as of March 2026, a 4.2% decrease from $369,900 the prior year.

How long do homes stay on the market in RICHMOND, VA?

Homes in RICHMOND, VA 23223 spend an average of 33 days on the market before going under contract, compared to 43 days the prior year.

Is it a seller's or buyer's market in RICHMOND, VA 23223?

Based on current inventory and days-on-market data as of March 2026, RICHMOND, VA 23223 is currently a Balanced Market. Inventory has increased compared to last year, with 32 more homes available — giving buyers more choice. Homes are selling faster, averaging 33 days on market compared to 43 days last year.

How much can I save on real estate commission in RICHMOND, VA?

With SELL123.com's maximum 3% commission, sellers in RICHMOND, VA 23223 save an estimated $7,089 compared to a typical 5% commission on the median listing price of $354,450. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.