Market Intelligence · VA / Richmond

Richmond, VA 23221 Housing Market

The typical home value in Richmond's 23221 ZIP code is $655,867, up 2.9% over the past year as of 2026-08-01. Sellers are listing at a median price of $699,950, and homes are spending a median of 46 days on the market.

Updated August 2026Median value$656K

The median home value in Richmond, VA 23221 is $656K as of August 2026, up 2.9% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 23221 range

$603K to $708K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+2.9% over 12 months

Typical home value in 23221 over the last 12 months: $638K in Aug 2025 to $656K in Aug 2026 (+2.9%).

Aug 2025$638K

Aug 2026$656K

The numbers

What is the 23221 housing market like?

Typical home value

$656K

Up2.9%YoY

Median list price

$700K

Up6.2%MoM

Days on market

46

Up39.4%MoM

Homes for sale

19

Down13.6%MoM

Price cuts

7.5%

Up22.8%MoM

New listings

16

Flat0.0%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 23221 home prices compare?

  • 23221$655,867
  • Richmond$382,345
  • Virginia$330,987
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Richmond: 14 ZIPs; Virginia: 757 ZIPs; United States: 26,265 ZIPs).

Context

Inventory in 23221 is thin, with 19 homes for sale and 16 new listings as of 2026-08-01. The median list price of $699,950 sits above the typical home value of $655,867, which suggests sellers are aiming high relative to what homes are actually worth in the area. Homes are taking a median of 46 days to sell, so buyers have some time to decide. Only 7.5% of listings have had a price cut, meaning most sellers are holding their asking prices so far. For a seller, the value trend is positive, but pricing too far above the market could mean a longer wait.

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