Published November 1, 2026 in Market Update

More listings are showing up, but contracts have not kept pace

By Don Reid

Real estate, Chesterfield County $350k - $650k

If you own a home in Chesterfield County and are watching the market right now, you are probably thinking or wanting one thing: to know whether buyers are still showing up. Let's look at what the numbers actually say for the three months ending August 31, 2026.

Here is the core question: are more listings helping buyers, hurting sellers, or somewhere in between? The Real Estate Data Aggregator counted 718 homes for sale across the seven ZIP codes in this range, up 4.4% from the same period in 2025. At the same time, pending sales across those same ZIPs fell 2.1% to 1,021. More supply, fewer contracts. That gap is the story.

Nationally, Realtor.com reported that active listings grew 5.5%, topping 1.16 million homes for sale. Chesterfield County's 4.4% inventory gain is close to that national pace. But the national picture also showed 20.8% of listings with a price reduction in September, the highest share since October 2022, according to Realtor.com. More homes sitting means more sellers adjusting. That context matters here too.

Listings grow, buyer urgency fades. That combination is what shapes pricing power right now. Let's break it down by area, because the ZIP codes tell very different stories.

Some areas are moving fast. Others are asking buyers to wait.

ZIP 23235, a Chesterfield-area ZIP that carries a Richmond mailing address, was the tightest market the Real Estate Data Aggregator measured. The median sale price there was $450,000, up 2.9% from 2025. Homes sat for just 10 days at the median, five days shorter than the year before. Half of all homes sold above list price. Months of supply sat at just 1.2. That is a market where well-priced homes are still moving quickly.

ZIP 23236, also carrying a Richmond mailing address, showed similar energy. The Real Estate Data Aggregator put the median sale price at $401,750, up 2.4%. Homes sold climbed 28.9% year over year. More than half, 50.8%, went under contract within two weeks. Supply dropped to 1.5 months.

Let's compare those to ZIP 23832, the Chesterfield ZIP. The Real Estate Data Aggregator counted a median sale price of $430,000, up 4.9%. But homes took 25 days at the median, eight days longer than a year ago. Only 31.8% went under contract within two weeks, down 8.5 points. The sale-to-list ratio slipped to 99.8%, and the share selling above list fell 9.5 points to 31.9%. Prices moved up, but buyer competition cooled noticeably.

Midlothian: more listings, more time to decide

ZIP 23112, the larger Midlothian ZIP, had the most new listings of any ZIP in this group. The Real Estate Data Aggregator counted 319 new listings, up 13.9%. Homes for sale rose 8.6% to 189. Pending sales were actually up 5.4% to 274, which is a brighter sign than the countywide number suggests. The median sale price was $443,500, down 1.4% from a year ago. That small dip is worth noting. It is not a sharp drop, but it is the only ZIP here where the median moved backward.

ZIP 23114, another Midlothian ZIP, was a different picture. The Real Estate Data Aggregator showed homes sold up 18.8% to 139, and pending sales up 23.8%. The median sale price was $475,000, up 5.6%. Supply stayed lean at 1.6 months. That ZIP absorbed more listings and kept pace.

Moseley: faster sales, but fewer contracts

ZIP 23120, covering Moseley, had the highest median sale price in this $350k to $650k story. The Real Estate Data Aggregator put it at $639,112, up 2.3%. Homes sold in a median of 26 days, which was actually 10 days shorter than the year before. That is a real improvement in pace. But pending sales fell 24.3% to 112, and the share selling above list dropped 5.5 points to 24.4%. Fewer buyers are competing, even as the ones who do buy are moving faster.

ZIP 23113: prices up, but far fewer deals

ZIP 23113, the higher-priced Midlothian ZIP, sits mostly above this $350k to $650k range. Its median sale price was $777,500, up 10.8%, per the Real Estate Data Aggregator. But homes sold fell 32.8% to 92, and pending sales dropped 25.2%. Supply jumped 1.2 months to 2.2. Prices rose, but the pool of buyers thinned sharply. That is a market where the price is still strong but the pace has slowed.

Let's bring this back to the big question: are more listings helping buyers, hurting sellers, or somewhere in between? The honest answer is both, depending on where you are. In 23235 and 23236, sellers are still getting strong results. In 23832 and 23120, buyers have more room to compare and take their time.

What the wider market adds

Mortgage rates are part of this picture. Realtor.com reported that rates surged above 7% for the first time since January 2025. When borrowing costs rise, some buyers pause. That can slow contract activity even when inventory grows. The Federal Housing Finance Agency reported that U.S. house prices rose 2.4% from August 2025 to August 2026, so the broader price trend is still positive, just not fast.

Now, let's recap