October 21, 2025
Market Overview
Sales Up: 8,783 homes sold in September — up 8.9% from last year, continuing the upward trend since June.
Median Price: $420,000 (+0.2% year over year).
Sold Volume: $4.7 billion statewide — a 13.1% increase from 2024.
Inventory Growth: 24,759 active listings (+25.3%), reflecting both more new listings and slower sales pace.
Days on Market: 20 days (median), up from 14 last year — still a fast-moving market.
Economic & Mortgage Trends
Mortgage Rates: Average 30-year fixed = 6.27% (as of Oct 16), down from the upper 6s earlier this year — helping boost buyer activity.
Job Market: Virginia added 7,200 jobs in August (4.28 million total). Healthcare and administrative services led growth, while federal and finance sectors saw declines.
Unemployment: 3.6%, still below the national rate of 4.3%.
What to Watch
Rate-sensitive buyers are returning as rates stabilize in the low 6% range.
Expanded inventory is giving buyers more choices — a welcome shift from the tight markets of recent years.
Economic uncertainty and federal layoffs may soften activity later this year.
Key takeaway: Virginia’s market is showing renewed momentum — sales and listings are up, prices are steady, and buyers are re-engaging as rates ease.