Is Rice, VA 23966 a buyer’s or seller’s market?
Rice is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Rice housing market right now
In the three months ending August 31, 2026, 50% of homes in Rice, VA 23966 sold above their list price, the typical home went under contract in 32 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 67%, homes sold more slowly (5 days then) and the median sale price rose 27% to $469,797. Overall, Rice is less competitive than a year ago, which gives buyers more room.
Within Prince Edward County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Meherrin 23954 (0% sold over asking) or Green Bay 23942 (0% sold over asking).
Run the numbers for 23966
Nearby markets
Cullen 23934Seller’s market $121 /sq ftGreen Bay 23942Buyer’s market $192 /sq ftMeherrin 23954Balanced $151 /sq ftProspect 23960Seller’s market $210 /sq ft Browse all markets →Towns like Rice nearby
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Questions about Rice real estate
Is Rice a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Rice, VA 23966 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Rice?
The typical home went under contract in 32 days in the latest three months.
Do homes in Rice sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 100.6% of the list price.
What are property taxes in Rice?
About 0.43% of a home’s value a year in Prince Edward County, or roughly $1,720 on a $400,000 home.
What is the median home price in Rice?
The median sale price was $469,797 in the three months ending August 31, 2026, about $169 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology