Published October 12, 2026 in Market Update

Western Henrico still has far less supply than the broader market

By Mike Boone

Real estate, DOTW + Market Udates: Western Henrico

As of October 12, 2026, the gap between western Henrico and the broader market is hard to ignore. The National Association of Realtors counted 4.9 months of supply nationally, the highest in over ten years. The Real Estate Data Aggregator counted 0.7 months of supply in both 23229 and 23226, and no ZIP code in western Henrico reached 2.0 months. For buyers, less supply means less room to wait. For owners, a well-prepared listing still enters a market with limited competition.

That national figure puts things in context. The National Association of Realtors reported 4.9 months of supply at the end of August 2026. Every western Henrico ZIP code sits well below that. The tightest are 23229 and 23226, both at 0.7 months. The loosest is 23230, at 2.0 months. Even 23230 is less than half the national reading.

The Near West End: 23229 and 23226

These two ZIPs are the tightest in the area. The Real Estate Data Aggregator counted 38 homes for sale in 23229 and 23 in 23226. Both ZIPs held 0.7 months of supply, each down 0.3 months from a year earlier. In 23229, the median sale price reached $544,500, up 12.8% from the same three months in 2025. In 23226, the median was $650,000, though that slipped 5.9% from a year before. Prices can move in different directions even when supply is equally tight.

In 23229, more than half of homes sold above list price. The Real Estate Data Aggregator put that share at 53.5%. In 23226, it was 55.9%. Both ZIPs saw buyers go to contract quickly: 59.5% of 23229 homes and 61.3% of 23226 homes went under contract within two weeks of listing.

Short Pump and the West End: 23233 and 23238

These two ZIPs tell different stories. The Real Estate Data Aggregator counted 1.7 months of supply in 23233 and 1.4 months in 23238. Both are still far below the national reading. But 23233 saw median days on market rise to 23 days, up 11 days from a year earlier. That is worth noting. Homes still sold, but buyers in 23233 had a little more time to decide.

In 23238, homes sold above list price 45.3% of the time, and the median sale price was $510,000. That median dipped 2.6% from a year earlier. Homes sold in 23238 also fell 24% year over year, the sharpest drop in the area. Supply tightened anyway, down 16% in homes for sale. Fewer homes came to market, fewer sold.

The north Henrico ZIPs: 23227, 23228, 23294, and 23230

These four ZIPs cover a wide range of price points. The Real Estate Data Aggregator put median sale prices at $385,000 in 23227, $350,000 in 23228, $366,000 in 23294, and $500,000 in 23230. Supply ranged from 1.4 months in 23227 and 23228 to 2.0 months in 23230. Even 23230, the loosest ZIP in the group, is well below the national figure of 4.9 months.

In 23228, the share of homes that sold above list price rose 7.8 points year over year to 40.2%. That is a meaningful shift. In 23227, the sale-to-list ratio slipped to 98.8%, the only ZIP in this group where the average sale came in below list price. Pricing carefully matters more in 23227 than in the ZIPs to the south and west.

In 23294, the Real Estate Data Aggregator counted 55.6% of homes going under contract within two weeks of listing. That is the second-highest two-week contract rate in all of western Henrico, behind only 23226 at 61.3%. Supply in 23294 held at 1.2 months, down 0.1 months from a year earlier.

What the broader market adds

Nationally, conditions are looser. The National Association of Realtors reported that existing-home sales decreased 2.0% in August 2026. VAR reported 8,985 closed sales statewide that month and a statewide median sold price of $449,000. Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026, and the 15-year at 6.73%. Rates at that level affect what buyers can afford, and that matters even in a tight market.

Nationally, active listings rose 6.7% from a year ago, the fastest pace since February, according to Realtor.com. Western Henrico has not followed that trend. The Real Estate Data Aggregator shows homes for sale falling in 23229, 23226, 23238, and 23227 year over year. Only 23233, 23228, 23294, and 23230 added inventory, and none by enough to change the overall picture.

These numbers cover the three months ending August 31, 2026. One street can read very differently from the ZIP code around it. If you want to know what the data shows for your specific address, reach out.