Published October 12, 2026 in Market Update

One part of Glen Allen is much tighter than the other

By Mike Boone

Real estate, DOTW + Market Udates: Glen Allen

Glen Allen covers two ZIP codes: 23059 and 23060. The Real Estate Data Aggregator counted 301 homes sold across both in the three months ending August 31, 2026. That number looks healthy. But the two ZIPs are not moving the same way, and the difference matters if you are pricing a home or writing an offer.

Supply: the sharpest difference between the two

The National Association of Realtors reported national housing supply at 4.9 months. In 23060, the Real Estate Data Aggregator measured just 1.6 months of supply, down 0.2 months from a year before. In 23059, supply came in at 2.8 months, up 1.3 months from the prior year. Both are tight by national standards. But 23060 is tighter, and it is getting tighter while 23059 is loosening.

What is driving the gap

New listings tell a lot of the story. The Real Estate Data Aggregator recorded 155 new listings in 23060 in the three months ending August 31, 2026, down 13.9% from the same period in 2025. In 23059, new listings rose 36.2% to 222. More supply coming into 23059, less coming into 23060. That is why the supply readings diverge.

Speed: both ZIPs move fast

The Real Estate Data Aggregator put median days on market at 18 days in 23059 and 17 days in 23060, both under three weeks. That is 5 days shorter than a year ago in 23059, and 2 days shorter in 23060. Speed is not where the two ZIPs differ. Supply and price pressure are.

In 23060, 41% of homes sold above list price. In 23059, that share was 32.1%, down 8 points from a year ago. The Real Estate Data Aggregator shows the sale-to-list ratio in 23060 at 100.1%, just above asking. In 23059 it came in at 99.9%, just under. Small numbers, but they point in different directions.

Price: 23059 is higher, and it grew faster

The Real Estate Data Aggregator put the median sale price in 23059 at $578,750 for the three months ending August 31, 2026, up 5.2% from the same period in 2025. In 23060, the median was $435,000, up 2.5%. The Virginia Association of Realtors reported a statewide median sold price of $449,000 in August 2026. Both ZIPs sit near or above that state figure.

Rates are still a factor for every buyer

Freddie Mac reported the 30-year fixed rate at 7.40% as of October 8, 2026. The 15-year fixed came in at 6.73%. The Virginia Association of Realtors put the average 30-year rate in Virginia at 7.4% in the second week of August 2026. At those levels, monthly payments are a real constraint. That makes pricing accurately more important, not less.

What this means for sellers

In 23060, inventory fell 26.8% from a year ago. Buyers have fewer choices, and 42.1% of homes went under contract within two weeks. Sellers there have less room to overprice, but they have less competition. In 23059, inventory rose 52.1%. More homes are competing for buyers. The 8-point drop in above-list sales tells you buyers have more options. Pricing needs to reflect that.

What this means for buyers

In 23060, you are likely writing offers quickly. More than 4 in 10 homes sold above list price. In 23059, the pace is nearly as fast, but the above-list share is lower and supply is growing. There may be a little more room to negotiate, depending on the home and the street.