23487 — Isle of Wight County, Virginia Market Snapshot
Housing market data for zip code 23487 in Isle of Wight County, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
16 sales in 2026 (year to date)
Median Sale Price
$355,000
Days to Sell
23
Homes Sold
16
Inventory
31
Sale-to-List
99.5%
New Listings
39
Price/SqFt
$206
Pending Sales
24
Conforming Loan Available
Most homebuyers in 23487 can comfortably use conventional financing. The median home price of $355,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
Homes in 23487 are moving quickly at 23 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 23487 (99.5% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23487 can comfortably use conventional financing. The median home price of $355,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23487 are set at the county level.
2026 Loan Limits — Isle of Wight County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23487
To purchase the median home at $355,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,870.
Monthly Payment
$2,870
Income Required
$122,996
Principal & Interest
$2,187/mo
Down Payment (5%)
$17,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23487.
Estimated Monthly Payment
$2,347
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