Published November 1, 2026 in Market Update

More listings are showing up in Henrico, but demand is still keeping pace

By Don Reid

Real estate, Henrico County $651k - $1.2M

If you own a home in Henrico County and you have been watching more for-sale signs appear on your street, you are probably thinking one thing: is the market softening? Let's look at what the numbers actually say for the three months ending August 31, 2026.

The Real Estate Data Aggregator counted 456 homes for sale across the Henrico ZIP codes in this report. That is up 10.7% from the same three months in 2025. More supply usually means buyers get more options. But here is what makes this market different right now: pending sales rose at the same time.

The Real Estate Data Aggregator recorded 809 pending sales across these ZIP codes, up 2.4% from a year ago. More listings bring more comparisons. Steady pending sales show that buyers are still moving. That combination is worth paying attention to if you are thinking about pricing or timing a sale.

Is the Henrico market softening or holding?

That is the question this market keeps raising. Let's look at what is happening ZIP by ZIP, because the answer is not the same everywhere.

Realtor.com reported that active listings grew 5.5% nationally through September 2026, topping 1.16 million homes for sale across the country. Henrico's 10.7% inventory gain, counted by the Real Estate Data Aggregator, is running nearly double that national pace. More supply locally, but demand here is also outpacing the national picture.

Where homes are moving fastest

Let's start with the ZIP codes where buyers are acting quickly. The Real Estate Data Aggregator shows that in ZIP 23229, the median home sold in just 11 days. Nearly 6 in 10 homes there, 59.5% to be exact, went under contract within two weeks of listing. Pending sales in 23229 were up 15.6% from a year ago, and the median sale price rose 12.8% to $544,500.

In ZIP 23294, the Real Estate Data Aggregator counted 55.6% of homes going under contract within two weeks. That is the second-highest share in this group. The median sale price there came in at $366,000, up 4.6% from a year before.

Where inventory climbed the most

Let's look at where the supply picture changed the most. ZIP 23059, also in Glen Allen, saw homes for sale jump 52.1% from a year ago, according to the Real Estate Data Aggregator. New listings there rose 36.2%. That is a big shift. Median days on market fell 5 days to 18, so buyers are still engaging. But the share of homes that sold above list price dropped 8 points to 32.1%. More choice, a little less urgency.

ZIP 23233, in the Short Pump area, also saw inventory grow, up 29.7% per the Real Estate Data Aggregator. Days on market stretched to 23, which is 11 days longer than a year ago. That is the biggest time increase in this group. Prices still rose 6.9% to a median of $555,950, and pending sales climbed 11.4%. Sellers are getting their prices, but buyers are taking a bit more time to decide.

Where things are a little quieter

Let's be honest about ZIP 23238. The Real Estate Data Aggregator counted 95 homes sold there, down 24% from a year ago. Pending sales fell 25.7%. The median sale price dipped 2.6% to $510,000. That is the only ZIP in this group where prices moved lower. Homes still averaged 102% of list price when they did sell, and the median sat at just 13 days on market. So the homes that sold, sold well. Fewer of them just chose to sell.

ZIP 23060, also in Glen Allen, saw homes sold fall 16.8% and new listings drop 13.9%. Inventory there actually shrank 26.8%. Less supply, but also fewer buyers closing. The median price still rose 2.5% to $435,000, and 42.1% of homes went under contract within two weeks. Not a troubled ZIP, just a quieter one.

What the national picture adds

Nationally, the Federal Housing Finance Agency reported that U.S. home prices rose 2.4% from August 2025 to August 2026. That lines up with what the Real Estate Data Aggregator is showing across most of these Henrico ZIP codes. Realtor.com also noted that mortgage rates surged above 7% for the first time since January 2025. Higher rates slow some buyers. That makes the Henrico pending sales gain of 2.4%, counted by the Real Estate Data Aggregator, a meaningful signal that local demand is holding.

Realtor.com also reported that 20.8% of listings nationally had their price reduced in September 2026, the highest share since October 2022. That is a national number, not a Henrico one. But it is a reminder that pricing still matters. Buyers have more to compare.

Now, let's recap

So, is the Henrico market softening or holding? The short answer: it depends on the ZIP. More inventory brings more comparison for buyers. Steady pending sales show sellers still have real demand to work with. One street can read very differently from the ZIP code average, though. If your home sits in 23059 versus 23229, the picture is not the same.