11/02/2026
🔥 𝗣𝗢𝗪𝗛𝗔𝗧𝗔𝗡 𝗥𝗘𝗔𝗟 𝗘𝗦𝗧𝗔𝗧𝗘: 𝗧𝗛𝗘 𝗡𝗨𝗠𝗕𝗘𝗥 𝗜'𝗩𝗘 𝗕𝗘𝗘𝗡 𝗪𝗔𝗧𝗖𝗛𝗜𝗡𝗚 𝗝𝗨𝗦𝗧 𝗗𝗥𝗢𝗣𝗣𝗘𝗗 𝗔𝗚𝗔𝗜𝗡! 👀📉
We've been following the Powhatan, VA 23139 real estate market week after week, and this week's numbers are telling an interesting story!
The Market Action Index has dropped AGAIN, inventory remains elevated, and more than one-third of listings have experienced price reductions.
📊 𝗛𝗘𝗥𝗘'𝗦 𝗧𝗛𝗜𝗦 𝗪𝗘𝗘𝗞'𝗦 𝗣𝗢𝗪𝗛𝗔𝗧𝗔𝗡 𝗠𝗔𝗥𝗞𝗘𝗧 𝗦𝗡𝗔𝗣𝗦𝗛𝗢𝗧:
💰 𝗠𝗲𝗱𝗶𝗮𝗻 𝗟𝗶𝘀𝘁 𝗣𝗿𝗶𝗰𝗲: $637,475
🏷️ 𝗠𝗲𝗱𝗶𝗮𝗻 𝗡𝗲𝘄 𝗟𝗶𝘀𝘁𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲: $530,000
📐 𝗣𝗿𝗶𝗰𝗲 𝗣𝗲𝗿 𝗦𝗾𝘂𝗮𝗿𝗲 𝗙𝗼𝗼𝘁: $253
⏳ 𝗔𝘃𝗲𝗿𝗮𝗴𝗲 𝗗𝗮𝘆𝘀 𝗼𝗻 𝗠𝗮𝗿𝗸𝗲𝘁: 88
📅 𝗠𝗲𝗱𝗶𝗮𝗻 𝗗𝗮𝘆𝘀 𝗼𝗻 𝗠𝗮𝗿𝗸𝗲𝘁: 60
📉 𝗣𝗿𝗶𝗰𝗲 𝗗𝗲𝗰𝗿𝗲𝗮𝘀𝗲𝗱: 35%
📈 𝗣𝗿𝗶𝗰𝗲 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱: 0%
🔄 𝗥𝗲𝗹𝗶𝘀𝘁𝗲𝗱: 16%
🏡 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆: 122 homes
🏠 𝗠𝗲𝗱𝗶𝗮𝗻 𝗥𝗲𝗻𝘁: $2,100
🔥 𝗠𝗔𝗥𝗞𝗘𝗧 𝗔𝗖𝗧𝗜𝗢𝗡 𝗜𝗡𝗗𝗘𝗫: 𝟯𝟮
Last week: 34 ⬇️
Last month: 35 ⬇️
𝗦𝗢… 𝗪𝗛𝗔𝗧 𝗗𝗢 𝗧𝗛𝗘𝗦𝗘 𝗡𝗨𝗠𝗕𝗘𝗥𝗦 𝗔𝗖𝗧𝗨𝗔𝗟𝗟𝗬 𝗠𝗘𝗔𝗡? 🤔
The Market Action Index has continued its downward trend, falling from 35 last month to 32 today.
Meanwhile, inventory has dipped slightly from 124 homes last week to 122 this week.
And here's another number worth watching:
👀 𝗧𝗛𝗘 𝗠𝗘𝗗𝗜𝗔𝗡 𝗟𝗜𝗦𝗧 𝗣𝗥𝗜𝗖𝗘 𝗜𝗦 𝗡𝗢𝗪 $𝟲𝟯𝟳,𝟰𝟳𝟱!
That's down from $649,900 last week—a $12,425 difference in just one week.
Now, that does NOT mean individual home values dropped by that amount. Median list prices reflect the homes currently available for sale, and changes in inventory can influence that number.
But when you combine a declining Market Action Index with 35% of listings experiencing price reductions, it's worth paying attention.
𝗔𝗡𝗗 𝗛𝗘𝗥𝗘'𝗦 𝗧𝗛𝗘 𝗜𝗡𝗧𝗘𝗥𝗘𝗦𝗧𝗜𝗡𝗚 𝗣𝗔𝗥𝗧… 👀
The market gauge STILL indicates a 𝗦𝗹𝗶𝗴𝗵𝘁 𝗦𝗲𝗹𝗹𝗲𝗿'𝘀 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲.
However, the direction of the MAI suggests that the balance between supply and demand has been shifting toward buyers.
🏡 𝗕𝗨𝗬𝗘𝗥𝗦: More negotiating opportunities may be emerging, particularly on homes that have been sitting longer or have already experienced price reductions.
💰 𝗦𝗘𝗟𝗟𝗘𝗥𝗦: The market isn't necessarily working against you, but pricing your home based on yesterday's conditions can be costly. Strategic pricing, professional presentation, and effective marketing matter.
👀 𝗪𝗛𝗔𝗧 𝗔𝗠 𝗜 𝗪𝗔𝗧𝗖𝗛𝗜𝗡𝗚 𝗡𝗘𝗫𝗧?
Whether the MAI continues falling toward the Buyer's Market zone or begins a sustained upward shift.
If demand strengthens relative to available inventory, we may begin seeing greater price stability. If the index continues declining, additional pricing pressure could follow.
📍 𝗣𝗼𝘄𝗵𝗮𝘁𝗮𝗻 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗶𝘀 𝗵𝘆𝗽𝗲𝗿-𝗹𝗼𝗰𝗮𝗹. The overall market numbers don't tell you exactly what your home is worth. Acreage, location, condition, property type, and price range all matter.
Whether you're buying or selling a home in Powhatan County or Central Virginia, understanding the numbers behind the market can help you make more informed decisions.
👀 𝗜'𝗹𝗹 𝗸𝗲𝗲𝗽 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿𝘀. 𝗬𝗼𝘂 𝗸𝗲𝗲𝗽 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁.
Curious what these changes could mean for YOUR home or your home search? Send me a message! 📲🏡
Bree Cox | Associate Broker®
C21 Realty at Home
📱 804-386-2947 - Cell
☎️ 804-924-7225 - Office