Published October 18, 2026 in Market Update

Low supply is still shaping this market

By Jen Orth, RVA Realtor

Real estate, Manakin Sabot & Oilville

The three months ending August 31, 2026 told a clear story in Manakin-Sabot and Oilville. Fewer homes came to market. The ones that did sold well. That is the short version. Here is what the numbers actually show.

New listings dropped sharply

The Real Estate Data Aggregator counted 34 new listings in ZIP 23103 during the three months ending August 31, 2026. That is down 27.7% from the same three months in 2025. Nationally, Realtor.com reported 1.16 million active listings in September 2026. This market is moving in the opposite direction.

At 2.2 months of supply, there is not much to choose from. Buyers who wait for more options may keep waiting.

Prices moved up, and so did sales volume

The Real Estate Data Aggregator recorded a median sale price of $900,000 in ZIP 23103 for the three months ending August 31, 2026. That is up 22.4% from the same period in 2025. Forty-five homes sold, up 50% from a year ago. More sales, higher prices, fewer listings. That combination does not leave much room for buyers to wait and see.

For context, the Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. The 22.4% gain the Real Estate Data Aggregator recorded here is well above that national pace.

Homes sold fast, and many sold over list

The Real Estate Data Aggregator put the median days on market at 21 days in ZIP 23103. That is 3 days shorter than a year ago. Four in 10 homes sold above list price. The average sale came in at 104% of list, up 3.3 points from the prior year.

Not every home moved in two weeks. The Real Estate Data Aggregator shows 32% went under contract within two weeks of listing. That is down 28 points from a year ago. So speed is not guaranteed. Preparation still matters.

Oilville (ZIP 23129): a quieter picture

The Real Estate Data Aggregator counted 1 home sold in ZIP 23129 during the three months ending August 31, 2026. That sale closed at 96% of list price. No homes sold above list. One pending sale was recorded. With only one transaction, it is hard to draw broad conclusions for Oilville from this period alone.

Across both ZIPs together, the Real Estate Data Aggregator counted 46 homes sold and 26 pending sales for the three months ending August 31, 2026.

Rates are adding pressure for buyers

Realtor.com reported mortgage rates climbed above 7% for the first time since January 2025. Fannie Mae, as reported by CNBC, forecast the average 30-year fixed rate at 7.4% for the fourth quarter of 2026 and 7.5% for all of 2027. Higher rates narrow what buyers can afford. In a market with limited supply, that tension is real.

Nationally, Realtor.com noted that 20.8% of listings took a price cut in September 2026, the highest share since October 2022. That is not the story in ZIP 23103, where the average home sold at 104% of list. But it is worth knowing what is happening elsewhere, especially if you are comparing this market to others.

One more thing worth saying: a single street in Manakin-Sabot or Oilville can read very differently from the ZIP code as a whole. Lot size, road access off 288 or Broad Street Road, and condition all shift the picture. The numbers above are a starting point, not the whole story for your specific property.