Virginia Housing Market Update (Fall 2025)
The Virginia real estate market is settling into a healthier rhythm this fall. Buyers and sellers are stepping back into the process with more confidence as inventory rises and mortgage rates ease. With steadier conditions across the state, clients can approach their decisions with greater clarity and fewer surprises.
According to the Virginia REALTORS September 2025 Home Sales Report, sales are increasing, price growth is moderate, and more homes are available. These changes help create an environment that feels more organized and approachable than the fast-paced markets of recent years.
Sales Improve Across the State
In September, Virginia recorded 8,783 closed sales, an 8.9% increase compared to last year. Buyers are re-engaging, and the statewide median price of about $420,000 shows steady conditions without dramatic swings.
A 13% increase in total sold dollar volume reflects healthier activity and a pace that allows clients to make thoughtful choices.
Inventory Is Finally Expanding
One of the most encouraging trends is the growth in available homes. Virginia ended September with 24,759 active listings, which is 25% higher than last year. Virginia Business also notes meaningful increases in most regions.
Key highlights:
Northern Virginia inventory up 42%
Hampton Roads up 16.9%
More choice often leads to calmer experiences for buyers and sellers. Homes in Northern Virginia now spend about 27 days on the market, a change that supports more measured decision-making.
Regional Overview
Northern Virginia
Northern Virginia remains one of the strongest parts of the state, supported by a diverse economy and steady housing demand.
Sales up 7.5%
Sales volume up 16.5%
Median price: $750,000, a gain of almost 5%
Hampton Roads
The Hampton Roads region follows a calmer pattern.
Sales: slightly lower than last year
Median price: about $362,000, a 2.3% increase
Months of supply: 2.7, compared with 2.3 one year earlier
Central Virginia
The Richmond area shows mixed results.
Single-family sales: modest decline
Townhome and condo sales: slight increase
Pending sales: trending upward heading into the end of the year
Mortgage Rates Are Trending in a Better Direction
After reaching the 7% range earlier this year, the average 30-year fixed rate has eased to about 6.17%, according to Fox Business. This shift gives many buyers a clearer path forward and is helping increase activity across the state.
Looking Toward 2026
Virginia is expected to carry this balanced momentum into the new year. Steady pricing, more listings, and improving mortgage conditions create an environment that supports thoughtful buying and selling decisions without unnecessary pressure.
