Published October 20, 2026 in Market Update

Prices here are rising faster than the national trend

By Jen Orth, RVA Realtor

Real estate, Manakin Sabot & Oilville

The Federal Housing Finance Agency reported that U.S. house prices rose 2.6% from July 2025 to July 2026. The Real Estate Data Aggregator counted the Manakin Sabot median at $900,000 for the three months ending August 31, 2026, up 22.4% from the same period a year before. That gap is wide. For owners, it is a useful benchmark when setting expectations. For buyers, it explains why this market can still feel expensive even when national headlines look calm.

More homes sold, fewer came to market

The Real Estate Data Aggregator counted 45 homes sold in ZIP 23103 in the three months ending August 31, 2026. That is up 50% from the same three months in 2025. At the same time, new listings fell 27.7%, to just 34. Inventory slipped too, down 5.9% to 32 homes for sale. Supply sat at 2.2 months, down 1.3 months from a year before. More buyers, fewer choices. That combination tends to push prices up, and it did.

Sellers are getting more than they asked

The Real Estate Data Aggregator found that homes in ZIP 23103 sold at an average of 104% of list price in the three months ending August 31, 2026. That is up 3.3 points from a year before. Four in ten homes sold above list price, up 10 points from 2025. Homes went under contract in a median of 21 days. That is a fast market by any measure, though not every home moved at the same pace.

A note on Oilville

The Real Estate Data Aggregator recorded just 1 home sold in ZIP 23129 (Oilville) in the three months ending August 31, 2026. That single sale closed at 96% of list price, and no homes sold above list. One sale is not enough to draw conclusions about prices or pace. The story for Oilville this period comes from that single data point, and nothing more should be read into it.

Rates are a real factor right now

Nationally, mortgage rates climbed above 7% for the first time since January 2025, according to Realtor.com. Realtor.com also reported that 20.8% of listings nationally took a price cut in September 2026, the highest share since October 2022. Manakin Sabot did not follow that script. Prices here rose sharply. But buyers in this market are still borrowing at those same elevated rates, which shapes what they can offer and how long they can wait.

One thing worth keeping in mind: ZIP code numbers tell a broad story. A home off Manakin Road reads differently from one near the river. The street, the lot, and the condition all shape the real number for your specific property.