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Belle Isle Boulevard Broad Street Commercial Carver Commonwealth Club Downtown East Franklin Street (Block 0-100 Franklin Street) Fan Fan Extension Hollywood Cemetery Jackson Ward Monroe Park Monroe Ward Monument Avenue Near West North Oregon Hill Two Hundred Block West Franklin West Broad Street West Franklin Street West Grace Street

RICHMOND, VA 23220

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23220

Belle Isle · Boulevard · Broad Street Commercial · Carver · Commonwealth Club · Downtown · East Franklin Street (Block 0-100 Franklin Street) · Fan · Fan Extension · Hollywood Cemetery · Jackson Ward · Monroe Park · Monroe Ward · Monument Avenue · Near West · North · Oregon Hill · Two Hundred Block West Franklin · West Broad Street · West Franklin Street · West Grace Street

Market Analysis

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

The RICHMOND, VA real estate market (23220) currently shows 71 active listings, with 31 pending sales. Homes are averaging 46 days on the market before going under contract.

Inventory levels are unchanged compared to last year.

Homes are taking longer to sell, averaging 46 days on market compared to 34 days last year.

The median listing price has fallen 19.2% year-over-year, from $534,948 to $432,250.

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: 33,667  ·  Density: 2,688.1/mi²  ·  Median household income: $51,830

Typical home value: $426,585  ·  Homeownership: 33.1%

Market Overview

Active Listings
71
vs 71 last year
Pending
31
44% pending ratio
Median Price
$432,250
⇩ 19.2% vs $534,948 last year
Average Price
$531,251
⇩ 13.2% vs $611,903 last year
Days on Market
46
⇧ 35.3% vs 34 days last year

Price Per Square Foot

Median $/sqft
$304
⇩ 11.1% vs $342/sqft last year
Median Home Size
1,587 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Days on market: 46 now vs 34 last year

Median & Average Pricing

Year over Year
  • Median: $432,250 (-19.2% YoY)
  • Average: $531,251 (-13.2% 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 11.9 miles — 1,025 listings ($452,590,478 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23220Richmond, VA 232200.0 mi81$42,304,923$449,998$522,283
23221Richmond, VA 232211.7 mi28$19,480,020$625,000$695,715
23222Richmond, VA 232223.2 mi97$33,280,215$349,950$343,095
23224Richmond, VA 232243.5 mi97$31,913,582$299,725$329,006
23223Richmond, VA 232234.5 mi148$57,362,728$359,000$387,586
23228Henrico, VA 232285.6 mi68$23,915,192$337,900$351,694
23229Henrico, VA 232296.6 mi39$22,910,004$449,000$587,436
23294Henrico, VA 232947.2 mi25$10,190,400$399,995$407,616
23236Richmond, VA 232368.6 mi72$35,905,680$464,995$498,690
23237Richmond, VA 2323710.2 mi60$23,676,720$349,950$394,612
23231Henrico, VA 2323110.7 mi114$44,193,354$375,000$387,661
23233Henrico, VA 2323311.3 mi93$61,728,750$567,530$663,750
23114Midlothian, VA 2311411.9 mi103$45,728,910$446,112$443,970

Frequently Asked Questions

How many homes are for sale in RICHMOND, VA 23220?

As of February 2026, there are 71 active listings in RICHMOND, VA (zip code 23220), compared to 71 the prior year.

What is the median home price in RICHMOND, VA 23220?

The median listing price in RICHMOND, VA 23220 is $432,250 as of February 2026, a 19.2% decrease from $534,948 the prior year.

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

Homes in RICHMOND, VA 23220 spend an average of 46 days on the market before going under contract, compared to 34 days the prior year.

Is it a seller's or buyer's market in RICHMOND, VA 23220?

Based on current inventory and days-on-market data as of February 2026, RICHMOND, VA 23220 is currently a Balanced Market. Inventory levels are unchanged compared to last year. Homes are taking longer to sell, averaging 46 days on market compared to 34 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 23220 save an estimated $8,645 compared to a typical 5% commission on the median listing price of $432,250. 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.