23294 Home Prices & Values

$171,100 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.5% 1-year change
  • 0.8% 1-year forecast

The median home value in 23294 is $171,100. 23294 home values have gone up 0.5% over the past year and Zillow predicts they will rise 0.8% within the next year. The median list price per square foot in 23294 is $120, which is higher than the Richmond Metro average of $118. The median price of homes currently listed in 23294 is $175,000 while the median price of homes that sold is $150,000. The median rent price in 23294 is $1,095, which is lower than the Richmond Metro median of $1,100.

Foreclosures will be a factor impacting home values in the next several years. In 23294 1.8 homes are foreclosed (per 10,000). This is lower than the Richmond Metro value of 3.8 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 23294 is 2.1%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 23294 homeowners underwater on their mortgage is 23.2%, which is higher than Richmond Metro at 22.2%.

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Relative ZHVI
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23294 Market Overview

Data through Jun 30, 2014
  • $171,100 ZHVI
  • 0.8% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $175,000 Median listing price
  • $150,000 Median sale price (May 31, 2014)
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23294 Market Health

Data through Jun 30, 2014
  • 0.5/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 23.2% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 2.1% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

1.8 homes(Apr 30, 2014) 23294
3.8 homes Richmond Metro
4.3 homes United States
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
23059 $357,100 23221 $300,300 23233 $294,900
23226 $253,900 23229 $243,400 23060 $232,400
23227 $177,800 23230 $164,800 23228 $145,200

Listings & Sales

Data through Jun 30, 2014
  • $120 Median list price / sq ft
  • $105 Median sale price / sq ft (May 31, 2014)
  • 27.5% Listings with price cut
41.7%
Sold below listing
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23294 Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,279 23294
$1,303 Richmond Metro
$1,310 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,095 Rent list price
  • $0.99 Rent list price / sq ft
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