Published October 4, 2026 in Market Update

Midlothian is splitting into different speed markets

By Jen Orth, RVA Realtor

Real estate, Midlothian

The Federal Housing Finance Agency reported U.S. prices up 2.6% from July 2025 to July 2026. That is a useful headline. It is not your Midlothian number. The Real Estate Data Aggregator counted homes across four ZIP codes here for the three months ending July 31, 2026, and the spread is wide enough to matter.

The spread, in plain numbers

Those four ZIP codes cover most of what people call Midlothian. They are not the same market right now.

Where prices climbed

The Real Estate Data Aggregator counted 113 homes sold in ZIP 23113 for the three months ending July 31, 2026. The median sale price there was $778,500, up 10.5% from the same period a year before. Nearly half of homes, 49.6%, sold above list price. The median time on market was 13 days, unchanged from a year ago. Homes there are selling fast and above asking, even as fewer homes changed hands.

ZIP 23238 is a similar story. The Real Estate Data Aggregator counted 120 homes sold there in the same period. The median sale price was $525,000, up 1%. Homes averaged 102.9% of list price. More than half, 51.7%, sold above asking. Supply dropped, down to 1.2 months. Fewer homes available, buyers still competing.

Where prices pulled back

ZIP 23112 tells a different story. The Real Estate Data Aggregator counted 292 homes sold there, the most of any ZIP in this market. But the median sale price was $437,000, down 4% from a year before. New listings rose 11.2%. Supply crept up 0.4 months. Homes still sold in a median of 15 days, and 41.4% sold above list. The market is not frozen. Prices just softened.

ZIP 23114 sits in the middle. The Real Estate Data Aggregator counted 141 homes sold, up 30.6% from a year before. The median sale price was $499,950, up 8.7%. But homes took a median of 20 days to sell, 6 days longer than the year before. More supply, more sales, but a little more patience required.

What the broader picture shows

Across all four ZIP codes together, the Real Estate Data Aggregator counted 666 homes sold in the three months ending July 31, 2026, down 4.6% from a year before. New listings rose 3.9%, to 728. Homes for sale rose 10.8%, to 390. Pending sales fell 4.3%, to 629. More supply coming in, fewer deals closing. That is the Midlothian picture in total.

The Federal Housing Finance Agency put the national year-over-year price gain at 2.6% as of July 2026. Midlothian ranged from down 4% to up 10.5% in the same window. The national number is a starting point, not a plan.

One more thing worth knowing

Mortgage rates climbed above 7% for the first time since January 2025, according to Realtor.com. That matters for buyers across the board. It does not change which ZIP code a home sits in, but it does shape what buyers can afford and how they negotiate. A home priced well for its ZIP still has the best chance.

Richmond is also seeing new housing come to market in other forms. The Richmond Times-Dispatch reported on October 3, 2026 that a 190-unit apartment building is planned for Shockoe Bottom. And on October 4, 2026, the same paper noted that the Forest Hill neighborhood holds approximately 700 architecturally diverse homes. Neither is in Midlothian, but both are reminders that the broader RVA market is active and varied, and that buyers have options across the metro.