A total of 9,006 closed home sales were recorded in Virginia in October, more than 274 sales or a 3.1% increase from one year earlier.
According to data from Virginia Realtors, there were 25,196 active listings on the market last month, which represents 5,154 more listings than last year, a 25.7% jump. Also rising were home prices, which went up in almost six out of 10 local markets in Virginia. The statewide median sales price was $430,000, a $15,000 or 3.6% increase from October 2024. This resulted in approximately $4.9 billion sold volume throughout Virginia in October, which is about $400 million more than the same time last year, an 8.1% increase.
“Mortgage rates remaining in the low 6% range have encouraged potential buyers and allowed for renewed motivation among some sellers,” said Virginia Realtors Chief Economist Ryan Price. “While the recent government shutdown has restricted insight into some economic trends, rising prices and a cooling labor market continue to pose challenges.”
“Virginia’s housing market is showing strong momentum as we continue into the fall,” added Virginia Realtors 2025 President Lorraine Arora. “With more homes coming onto the market and sales continuing to grow, Virginians are finding more opportunities to buy and sell in communities across the Commonwealth.”
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