Market Intelligence · VA / Richmond

Richmond, VA 23227 Housing Market

Homes in Richmond 23227 have a typical value of $392,587, up 1.6% over the past year. The median list price stands at $382,738, with homes spending a median of 30 days on market as of September 2026.

Updated September 2026Median value$393K

The median home value in Richmond, VA 23227 is $393K as of September 2026, up 1.6% 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 23227 range

$361K to $424K

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

+1.6% over 12 months

Sep 2025$387K

Low $387KHigh $393K

Sep 2026$393K

The numbers

What is the 23227 housing market like?

As of September 2026

Typical home value

$393K

1.6%YoY

Median list price

$383K

1.1%MoM

Days on market

21.1%MoM

Homes for sale

31.3%MoM

Price cuts

10.4%

12.3%MoM

New listings

8.3%MoM

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

The outlook

23227 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23227 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 23227 rose 1.6%, per the Zillow Home Value Index.

Will home prices drop in 23227?

Zillow's forecast does not call for a drop: it expects typical home values in 23227 to rise 2.0% by September 2027, after a 1.6% 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 23227 home prices compare?

23227$392,587
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

The market has 42 homes for sale and drew 26 new listings in September 2026. With a median days on market of 30, inventory is moving at a steady pace. However, 10.4% of listings have seen a price cut, suggesting sellers are adjusting expectations in a market that continues to shift. For homeowners considering a sale, the modest appreciation combined with visible price reductions indicates a balanced environment where timing and pricing strategy matter significantly.

Monthly payment

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Home price

Down payment20% · $78,517

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Common questions

What people ask us.

What is the typical home value in 23227?

The typical home value in Richmond 23227 is $392,587, up 1.6% over the past year as of September 2026.

How many homes are for sale in 23227?

There are 42 homes for sale in 23227 as of September 2026, with 26 new listings added that month.

How long do homes typically stay on the market in 23227?

The median days on market is 30 as of September 2026.

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