Published November 4, 2026 in Market Update

Midlothian prices are not moving in one direction

By Jen Orth, RVA Realtor

Real estate, Midlothian

The Federal Housing Finance Agency reported that U.S. house prices rose 2.4% from August 2025 to August 2026. That number is real. It just does not describe Midlothian. The Real Estate Data Aggregator counted homes across three ZIP codes here, and each one told a different story.

Three ZIP codes, three different directions

ZIP 23113 was up 10.8%. ZIP 23114 was up 5.6%. ZIP 23112 was down 1.4%. Those are not rounding differences. They are three separate markets that share a name.

What the prices actually were

The spread between 23113 and 23112 is $334,000 at the median. Pricing a home, or setting a budget, depends on which ZIP you mean.

Speed is also different by ZIP

In 23113, the Real Estate Data Aggregator put the median days on market at 14, two days shorter than the same period last year. In 23114, it was 25 days, six days longer. In 23112, it was 17 days, three days longer. Sellers in 23113 are seeing the quickest pace. The other two ZIPs are taking a little more time than they did a year ago.

Nearly 44 in 100 homes in 23112 went under contract within two weeks, even as the median price there dipped. Speed and price do not always move together.

More homes are coming to market

Across all three ZIPs combined, the Real Estate Data Aggregator counted 554 new listings in the three months ending August 31, 2026. That is up 8% from the same period in 2025. Homes for sale across the three ZIPs together rose 15%, to 330. More choices for buyers does not automatically mean lower prices, as 23113 shows.

Fewer homes sold overall, down 12.7%, while pending sales held nearly flat, up 1.4%. That gap is worth watching. It suggests some sellers and buyers are still finding each other, even as the total closed count fell.

The national picture adds one more layer

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. Rates at that level affect what buyers can afford, and that pressure shows up differently depending on price point. A $777,500 median and a $443,500 median do not feel the same rate environment the same way.

Realtor.com also reported that 20.8% of listings nationally took a price cut in September 2026, the highest share since October 2022. That is a national number. In 23113, the Real Estate Data Aggregator shows homes still selling at 101% of list price on average. In 23114 and 23112, the average was 100%. Midlothian sellers, on balance, are still getting their price.

One more thing worth saying: these are ZIP code numbers. One street, one subdivision, or one price range can read very differently from the ZIP as a whole. Brandermill, Woodlake, Salisbury, Hallsley, and Magnolia Green each have their own rhythm. If you want to know what is happening on your specific street, that is a different conversation than what the ZIP code shows.