A total of 8,388 homes were sold in Virginia during March, an increase of 679 sales compared to last year, an 8.8% gain. This marks the third consecutive month of year‑over‑year growth.
March sales also rose 27.5% from February, while year-to-date sales were up by 6.4%.
According to the Virginia Association of Realtors (VAR), there were 10,121 pending sales in March, a 7.3% year-over-year increase. Month‑to‑month, pending sales surged 42.2%.
There were 14,846 new listings in March, up 6.7% from last year. Active listings rose to 20,979, up 6.3% from one year ago and marking the highest March inventory level since 2020. More than two-thirds (68%) of local markets had more active listings than last March. The statewide median days on market was 16 days, four days slower than last year.
The statewide median sales price was $425,000, up 1.7% from March 2025. More than half of Virginia’s local markets (55%) recorded higher median prices than one year ago, though price growth softened as inventory expands.
“March’s numbers confirm that Virginia’s housing market is building real momentum in 2026,” said VAR Chief Economist Ryan Price. “Sales are rising, inventory is expanding, and buyers are responding to improved conditions. While mortgage rates remain sensitive to global events and inflation pressures, the underlying demand in Virginia is still very strong. How rates move in the coming weeks will be a key factor in determining whether this pace continues through late spring.”
Photo: Famartin / Wikimedia Commons
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