Market Intelligence · VA / Richmond

Richmond, VA 23224 Housing Market

The typical home value in Richmond's 23224 ZIP code is $243,565, up 2.4% over the past year. The median list price sits at $289,800, with homes spending a median of 44 days on market as of September 2026.

Updated September 2026Median value$244K

The median home value in Richmond, VA 23224 is $244K as of September 2026, up 2.4% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 23224 range

$224K to $263K

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

+2.4% over 12 months

Sep 2025$238K

Low $238KHigh $245K

Sep 2026$244K

The numbers

What is the 23224 housing market like?

As of September 2026

Typical home value

$244K

2.4%YoY

Median list price

$290K

3.1%MoM

Days on market

15.8%MoM

Homes for sale

8.7%MoM

Price cuts

25.9%

110.7%MoM

New listings

12.5%MoM

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

The outlook

23224 housing market forecast 2027

+3.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23224 to rise 3.1% by September 2027.

Over the 12 months through September 2026, typical home values in 23224 rose 2.4%, per the Zillow Home Value Index.

Will home prices drop in 23224?

Zillow's forecast does not call for a drop: it expects typical home values in 23224 to rise 3.1% by September 2027, after a 2.4% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 23224 home prices compare?

23224$243,565
Richmond$379,332
Virginia$328,255
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Richmond: 14 ZIPs; Virginia: 757 ZIPs; United States: 26,262 ZIPs).

Context

There are 75 homes for sale in 23224, with 36 new listings arriving in September 2026. Nearly a quarter of all listings, at 25.9%, have seen a price cut since posting. The 44-day median time on market reflects a deliberate pace for this area. While underlying home values have climbed, the moderate absorption rate and frequency of price reductions suggest sellers should price carefully and be prepared for negotiation.

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Down payment20% · $48,713

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Common questions

What people ask us.

What is the typical home value in 23224?

The typical home value is $243,565 as of September 2026, up 2.4% from the prior year.

How long do homes stay on the market in 23224?

Homes in this ZIP spend a median of 44 days on market.

What share of listings have had price reductions?

As of September 2026, 25.9% of listings in 23224 have had a price cut.

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