A total of 7,492 closed sales were recorded in Virginia during November, representing 361 fewer than in November 2024 for a nearly 5% decline. According to data from Virginia Realtors, sales also fell 16.8% from October.
At the end of November, there were 22,978 active listings across Virginia, which was 4,108 more than last year, a nearly 22% increase in inventory. Pending sales also rose for the ninth consecutive month.
“The slight slowdown in sales activity we saw in November reflects a combination of typical seasonal patterns and uncertainty caused by the federal government shutdown and ongoing federal employment and contracting cuts in some of our larger regions,” said Virginia Realtors Chief Economist Ryan Price. “As delayed data has become available following the shutdown’s end on November 12, we’re gaining a clearer picture of current economic conditions.”
Home prices were still rising across most of the state, with more than eight out of 10 local markets seeing higher median sales prices compared to last November. The statewide median sales price reached $425,000 in November, up $10,000 for a 2.4% year-over-year increase.
Despite rising home prices, fewer sales led to a slight decline in sold dollar volume. There was approximately $4 billion sold volume throughout Virginia in November, which is about $100 million lower than the same time last year, a 3.1% decrease.
“Lower mortgage rates are bringing more buyers off the sidelines,” added Virginia Realtors 2026 President Curt Reichstetter. “Combined with higher inventory, this could create more opportunities for buyers as the market heads into early 2026.”
