Published September 30, 2026 in Market Update

One part of the Far West End is easing while others stay tight

By Jen Orth, RVA Realtor

Real estate, Far West End

The Far West End looks like one market on a map. It is not. The Real Estate Data Aggregator counted homes across five ZIP codes for the three months ending July 31, 2026, and the numbers read very differently from one pocket to the next. That matters whether you are pricing a home to sell or deciding what to offer.

The supply gap is the story

Months of supply is the clearest signal of how tight a market is. Low supply means buyers compete. Higher supply means sellers have to work harder. The Real Estate Data Aggregator found a 1.3-month gap between the tightest and loosest ZIP codes here.

ZIP 23294 sits at 1 month of supply, down a full month from a year ago, according to the Real Estate Data Aggregator. That is the tightest reading in the Far West End. ZIP 23059, which covers much of the Wyndham area and neighborhoods off Pouncey Tract, sits at 2.3 months. That is up 1 month from a year ago. Same general market, very different conditions.

What tighter supply looks like on the ground

In ZIP 23294, the Real Estate Data Aggregator counted 63.5% of homes going under contract within two weeks of listing. That is the highest two-week contract rate of any ZIP in the Far West End. Homes for sale there fell 21.7% from a year ago, while homes sold jumped 47.2%. Prices dipped a little, down 1.1% to a median of $370,000, but demand is clearly outrunning supply.

Where more choices are showing up

ZIP 23059 tells a different story. The Real Estate Data Aggregator found 137 homes for sale there, up 65.1% from a year ago. New listings rose 53.5% to 241. Homes sold actually fell 5.2%. The median sale price dipped to $570,000, down 0.9%. Buyers in this ZIP have more options than they did a year ago, and sellers need to price carefully.

The middle of the market

ZIPs 23233 and 23238, covering Short Pump, Twin Hickory, and nearby neighborhoods, sit at 1.2 months of supply each. Both are tight. The Real Estate Data Aggregator shows 23238 with a sale-to-list ratio of 102.9%, meaning homes there sold above asking on average. More than half of homes in 23238, exactly 51.7%, sold above list price. That ratio held steady from a year ago.

ZIP 23060, which includes Glen Allen neighborhoods off Broad and along 295, sits at 1.6 months of supply. Homes there sold in a median of 15 days, 2 days faster than a year ago, per the Real Estate Data Aggregator. The median sale price rose 2.6% to $441,250. Homes sold fell 16.6%, but that came alongside a 9% drop in new listings, so the market stayed reasonably balanced.

New construction is still coming

Richmond BizSense reported new building permits in the area as of September 30, 2026. A new single-family home permit came in at $585,000. A 12-unit apartment building permit was valued at $680,000. The largest was a $137,000,000 commercial construction permit for Peanut Building #2. New supply, both residential and commercial, keeps arriving even as some pockets stay very tight on existing homes.

The Far West End as a whole

Across all five ZIPs together, the Real Estate Data Aggregator counted 670 homes sold in the three months ending July 31, 2026, up 1.7% from a year ago. Homes for sale rose 10.6% to 345. New listings climbed 9.4% to 709. Pending sales edged down 2.4%. The broad picture is a market that is adding inventory while still moving homes. But that broad picture hides the real differences between ZIP codes.

For context, the Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026, and 0.3% from June to July on a seasonally adjusted basis. The Far West End's tighter ZIPs are outpacing that national pace. ZIP 23059 is closer to the national trend, and that is worth knowing if you are pricing there.

One more thing worth saying: the numbers above cover full ZIP codes. A street off Gaskins reads differently from one off Pouncey Tract, even when they share a ZIP. If you want to know what is happening on your specific block, that is a different and more useful conversation.