A total of 10,940 closed sales were recorded in Virginia in May, 291 more than one year ago for a 2.7% bump-up.
According to data from the Virginia Association of Realtors (VAR), pending sales were up 3.5% from May 2025. At the end of last month, there were 25,871 active listings across Virginia, nearly a 10% jump from last year, while new listings were 6% higher from May 2025.
The statewide median sales price was $452,060, up 2.7% from one year before. Nearly six out of 10 local markets posted year‑over‑year price gains, with a median of 10 days on market statewide. Sold dollar volume also increased in May, reaching approximately $6.3 billion statewide, an 8.6% year-over-year increase.
“Virginia’s housing market continues to show resilience this spring, with rising sales activity supported by improving inventory conditions,” said Ryan Price, VAR’s chief economist. “Mortgage rates remain stubborn due to a combination of economic and global factors, yet buyer demand has held steady. The increase in available listings is giving buyers more choices and contributing to the momentum we’ve seen since the start of the year.”
Photo: Famartin / Wikimedia Commons
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