Published October 28, 2026 in Market Update

One Midlothian market is speeding up while another is easing

By Jen Orth, RVA Realtor

Real estate, Midlothian

Midlothian is not one market right now. It is at least two. The Real Estate Data Aggregator counted 504 homes sold across ZIP codes 23112, 23113, and 23114 in the three months ending August 31, 2026. But the story inside that number is where things get interesting.

Realtor.com reported that 20.8% of listings nationwide had price cuts in September, the highest share since October 2022. Midlothian is not immune to that pressure. But it is not uniform either. One part of this corridor is tightening. Another is giving buyers a little more room.

Supply tells the story

ZIP 23114 has 1.6 months of supply, according to the Real Estate Data Aggregator. That is down 0.2 months from the same period a year ago. Fewer choices, faster decisions. ZIP 23113 sits at 2.2 months, up 1.2 months from last year. That is a meaningful shift in the other direction.

ZIP 23114: the tighter side

The Real Estate Data Aggregator shows 139 homes sold in 23114, up 18.8% from the same three months in 2025. Pending sales rose 23.8% in the same period. More activity, tighter supply. Homes are taking a little longer to sell, 25 days at the median, 6 more than last year. But 34.5% still sold above list price.

ZIP 23113: more inventory, more caution

ZIP 23113 tells a more complicated story. The Real Estate Data Aggregator put the median sale price at $777,500, up 10.8% from a year ago. That is real price strength. But homes sold dropped 32.8% and homes for sale rose 55.8%. Supply grew fast. Fewer buyers are closing, even as prices held.

Still, 43.5% of homes in 23113 sold above list price. And the median home went under contract in 14 days, two days faster than last year. The upper end of this market is not stalling. It is just more selective.

ZIP 23112: the middle ground

ZIP 23112 is the largest of the three by volume. The Real Estate Data Aggregator counted 273 homes sold there. The median price dipped 1.4% to $443,500. That is a small move, not a collapse. But it is the only ZIP of the three where prices slipped. Sellers here need to price carefully.

How the three ZIPs compare

The wider picture

Rates are not helping either side. CNBC reported the average 30-year fixed rate at 7.37% as of October 28, 2026. That is elevated. Realtor.com noted rates climbed above 7% for the first time since January 2025. CNBC also reported that the adjustable-rate mortgage share of applications rose to 11.3%, the highest in more than a year. Some buyers are adjusting how they borrow.

One piece of steadiness: CNBC reported that purchase mortgage applications rose 4% for the week ending October 28, 2026. Buyers are still moving, even with rates where they are.

Nationally, the Federal Housing Finance Agency reported U.S. home prices rose 2.4% from August 2025 to August 2026. Midlothian's 23113 outpaced that by a wide margin. Its 23112 came in below it.

One more thing worth knowing: the numbers above cover full ZIP codes. A subdivision off Robious, a street near the Powhite, or a community along 288 can read very differently from the ZIP as a whole. If you want to know what is happening on your specific street, send me your address.