A total of 10,362 closed sales were recorded statewide in Virginia during July, up by 1.8% from one year before. According to data from the Virginia Association of Realtors (VAR), this was the smallest year-over-year increase recorded so far in 2026.
Despite the mild activity in July, VAR added that home sales during the first seven months of the year were nearly 5% ahead of 2025 levels.
Last month also recorded 8,754 pending transactions statewide, down 4.7% from one year ago. It marked the first year-over-year drop in pending sales in 18 months. Virginia had 28,357 active listings at the end of July, an increase of 13.4% from the prior year and the largest inventory gain for 2026. New listings also rose sharply, increasing 9.1%. July ended with 3.1 months of supply statewide.
Home prices continued to trend upward in most regions of the state. The statewide median sales price reached $448,000, a gain of $13,000 (or 3%) from July 2025. Sold dollar volume also increased, climbing to approximately $5.8 billion statewide.
VAR Chief Economist Ryan Price observed, “July’s data points to a housing market that remains active but is becoming increasingly sensitive to borrowing costs. Mortgage rates moved higher throughout the month, and we saw the first decline in pending sales in a year and a half. Even so, inventory growth continues to be a bright spot, providing buyers with more choices than they’ve had in several years while helping to support a healthier balance between supply and demand.”
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