A total of 7,853 homes were sold in in Virginia during November, a 13% year-over-year increase.
According to data from Virginia Realtors, there were 9,031 new listings in November, a 10.3% increase. There were 18,870 active listings on the market throughout Virginia, an increase of more than 12% over the previous year.
The median sales price in Virginia last month was $415,000, up $30,000 from November 2023 but unchanged from October. About three-quarters of all local markets (76%) had median price growth in November.
“For two months in a row now, Virginia has seen double-digit growth in closed sales,” said Virginia Realtors Chief Economist Ryan Price, who noted the 6,863 pending sales statewide in November was a 15.2% year-over-year jump. “This marks a strong ending to what has been an otherwise sluggish 2024 housing market for the commonwealth.”
“Growth in new listings has been consistently stronger than last year as more sellers are choosing to enter the market,” added Virginia Realtors 2025 President Lorraine Arora. “While our inventory of listings has expanded, it’s important to remember we’re looking at an inventory that is still about 40% smaller than it was this time five years ago.”
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