A total of 6,581 homes were sold in Virginia during February, an increase of 452 transactions from one year earlier, which created a 7.4% gain. On a month-over-month measurement, sales were up by nearly 12%. There were 7,115 pending sales in February, a 5% increase from last year.
According to data from the Virginia Association of Realtors, 10,384 new listings were recorded last month, a 6.3% increase from February 2025, while active listings rose to 19,601, up over 9% year-over-year. Roughly 71% of local markets had more active listings than last February.
The statewide median days on the market rose to 23 days, up from 17 days last year.
The statewide median sales price was $410,000, up 1.6% from February 2025. Nearly six out of ten local markets (57%) posted year‑over‑year price increases. The average sold‑to‑list price ratio was 99.2%, up from January but slightly below last year’s level.
“February’s data shows that Virginia’s housing market entered 2026 with solid momentum,” said Chief Economist Ryan Price. “Higher inventory, steady buyer interest, and softer price growth were setting the stage for a busier spring season. However, the recent geopolitical tensions stemming from the Iran war have already pushed mortgage rates upward and created volatility in the bond market. How high mortgage rates climb will play a major role in determining whether the spring market maintains its pace or slows.”
Photo: Famartin / Wikimedia Commons
