A total of 6,129 homes sold in Virginia during February, a reduction of 604 transactions or a 9% year-over-year decline.
According to Virginia Realtors, there were 17,529 active listings on the market statewide, more than 3,100 additional listings from one year earlier for a 21.6% surge. The February median sales price in Virginia was $403,500, which is nearly $19,000 higher than it was a year ago, a 4.9% increase. However, there was about $3.1 billion of sold volume statewide in February, about $148 million less than one year earlier for a 4.6% decline.
Going forward, Virginia Realtors noted a wild card in the state’s housing market involves the restructuring of the federal government workforce.
“The impacts of federal job cuts on housing markets around the state are being monitored closely, and it’s still early to tell what the full scope could be,” said the organization in a statement. “The markets with the largest federal employment footprint, Northern Virginia and Hampton Roads, continue to show patterns that have been underway for quite some time, tight supply and strong price growth. Transaction volume in both of these markets has been slower in 2025 (through February), but the same is true for most regions around Virginia. There is a lot of uncertainty looming, and the spring market could be the first concrete gauge that we have on potential impacts to the housing market from the shifting federal employment landscape.”
