Weekly Real Estate News
A total of 9,416 homes were sold in Virginia during April, an increase of 1,164 units or 14.1% more than one year earlier, according to data from Virginia Realtors.
The growth in sales was powered by a 19.1% year-over-year increase in new listings, the highest upswing in roughly three years. Virginia’s housing market recorded its fifth straight month of expanded active listings.
“New and active listings rose this month even though overall supply is still low,” said Tom Campbell, the 2024 president for the realtors group. “The housing market remains competitive with a median days on market of just seven days.”
The statewide median sales price was $416,548 in April, rising 6.5% from last year, a $25,548 increase.
“Rising prices are likely to continue as demand for housing is stronger than the increase in supply of listings,” says Virginia Realtors Chief Economist Ryan Price.
