A total of 5,881 homes were sold in Virginia during January, a 2.1% increase from the 5,758 transactions recorded one year earlier.
According to the Virginia Association of Realtors (VAR), pending sales last month surged 14.4% to 6,723 deals, compared to the 5,879 deals from January 2025. New listings also continue to climb, with 10,071 homes coming onto the market, nearly 7% more than the 9,431 listings from one year earlier. And there were 19,207 active listings on the market, up by 9.4% from the 17,549 one year before.
The statewide median sales price $397,790 remained essentially flat, dipping by a scant 0.3% from the $399,000 price in January 2025.
“We saw a notable jump in pending sales this month, which is a strong indicator that more buyers are stepping back into the market,” said VAR’s Chief Economist Ryan Price. “With inventory expanding and mortgage rates holding steady in the low 6% range throughout January, conditions have improved for buyers. Price growth has softened, days on market are rising, and the average sold to list price ratio just hit a six-year low—all signs of a market offering more options and breathing room than we’ve seen in recent years.”
“More listings and more buyers are what we want to see as we head toward spring,” added VAR’s 2026 President Curt Reichstetter. “Realtors across the Commonwealth are reporting renewed energy from clients who feel they finally have choices again. This early momentum positions us for a busier, more balanced spring market than we saw last year.”
Photo by Famartin / Wikimedia Commons
