Published October 5, 2026 in Market Update

Higher mortgage rates did not stop fast contracts in the Near West End

By Mike Boone

Real estate, DOTW + Market Udates: Richmond City + Near West End

Freddie Mac put the 30-year fixed rate at 7.28% as of October 1, 2026. That is the highest it has been since January 2025, according to Realtor.com. Rates at that level slow buyers in many markets. In parts of the Near West End, they did not.

The Real Estate Data Aggregator counted homes sold, days on market, and contract speed across Richmond-area ZIP codes for the three months ending July 31, 2026. The numbers below cover the Near West End ZIPs: 23221, 23226, 23230, and 23228. Each one tells a different story.

ZIP 23221: The tightest market in the group

The Real Estate Data Aggregator counted 83 homes sold in ZIP 23221 in the three months ending July 31, 2026. That is up 29.7% from the same period in 2025. Only 0.8 months of supply remained. The median sale price came in at $705,000, down 7.5% from a year before. More homes sold, and they sold faster, but the middle price pulled back. That tells you the mix of what sold shifted, not that prices collapsed.

The Real Estate Data Aggregator found that 62% of homes in ZIP 23221 went under contract within two weeks of listing. That share rose 14.9 points from a year before. The average sale price came in at 107% of list price, up 4.1 points year over year. More than 66% of homes sold above list price, a jump of 22.5 points. With only 21 homes for sale and 71 pending sales counted, demand was clearly outrunning supply.

ZIP 23226: Strong competition, rising list prices

ZIP 23226 ran close behind. The Real Estate Data Aggregator counted 110 homes sold, up 13.4% from a year before. The median sale price held at $680,000, nearly flat year over year at up 0.1%. The average sale came in at 107.4% of list price, up 3.5 points. Nearly 61% of homes sold above list price.

The Real Estate Data Aggregator found 56% of ZIP 23226 homes went under contract within two weeks. That share slipped 3.8 points from a year before, a small dip in an otherwise competitive picture. Months of supply sat at just 0.7. New listings rose 29.1%, yet inventory stayed tight because buyers absorbed them quickly.

ZIP 23230: Fast contracts, but fewer pending sales

ZIP 23230 had the fastest contracts by days. The Real Estate Data Aggregator counted a median of 11 days on market. The median sale price was $507,605, up 2.5% from a year before. Nearly 58% of homes went under contract within two weeks, up 3.3 points year over year.

Not every signal pointed the same direction here. Pending sales fell 13.6% from a year before, and the share of homes that sold above list price dropped 16.5 points to 34.7%. The average sale-to-list ratio was still 101.4%, so sellers were not losing ground on price. But the pool of active buyers appears smaller than it was a year ago.

ZIP 23228: Steady volume, slightly slower speed

ZIP 23228 is the most affordable of the four. The Real Estate Data Aggregator counted 127 homes sold at a median of $352,500, up 0.9% from a year before. More than 55% of homes went under contract within two weeks, though that share slipped 3.9 points. Nearly 49% of homes sold above list price, up 5.3 points. Pending sales rose 20.2%, a sign that demand held.

How the four Near West End ZIPs compare

What the national picture adds

Nationally, the National Association of Realtors reported existing-home sales fell 2.0% in August 2026. Months of supply nationally grew to 4.9 months, the highest in over ten years. The Near West End numbers above sit well below that. The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Median prices in 23221 and 23226 ran well ahead of that pace.

These are ZIP-level numbers. One street, one block, or one price range inside a ZIP can read very differently from the whole. If your home is in 23221, 23226, 23230, or 23228, I can tell you where your specific address sits relative to what actually sold.