Virginia sees home sales rise in major markets

Home sales rose year-over-year in Northern Virginia, Central Virginia and Hampton Roads in September, which experts say is a sign of a stable and more predictable market.

Northern Virginia

The Northern Virginia Association of Realtors reports that there were 1,351 homes sold in September, a 9.5% increase over September 2024. Pending sales increased 4.28% year-over-year to 1,438. The total sales volume was $1.21 billion, a 14.6% increase compared with September of last year. According to NVAR, this increase in sold volume underscores “steady demand” despite shifting prices and interest rates.

The association says the median sales price dipped to $715,000, down 1.4% from last year. NVAR described the dip as “modest easing in prices” tied to expanding inventory and buyers having more breathing room in a market that used to be more intensely competitive.

“The increase in sales volume tells us that buyers are re-engaging as more listings become available,” NVAR CEO Ryan McLaughlin said in a statement. “After several years of constrained inventory, the market is opening up — and when buyers see more options, they feel more confident making a move. That’s good news for the health and stability of our regional market.”

The association reported active listings jumping 40.5% year-over-year, with 2,660 properties listed in September.

Homes spent an average of 28 days on the market, up 40% from last year, which the association attributes to buyers taking more time to evaluate their options.

“This is what a maturing market looks like,” McLaughlin added. “Buyers are more intentional, and sellers are more strategic. The next several months will test how both sides adjust to these new dynamics — but ultimately, balance benefits everyone.”

The September numbers reflect a steady transition in Northern Virginia’s housing market, highlighting a period of adjustment that may set the tone for the months ahead.

NVAR reports home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church, and the towns of Vienna, Herndon and Clifton.

Hampton Roads

According to the Real Estate Information Network (REIN), Hampton Roads saw improvement across the board compared with last year, with increases in pending sales, settled sales and selling prices. September saw 2,118 closed sales, down from 2,243 in August, but up 9.57% from the 1,933 sold in September 2024.

In September, the months’ supply of inventory (MSI) — a measure of how many months there would be homes on the market if no new inventory were added — was 2.63, down from 2.77 in August but up from 2.31 during September 2024.

Active residential listings fell to 5,472 from 5,709 in August, but increased year-over-year by 17.9% from 4,641.

“After many months of inventory gains, the number of homes for sale actually fell during September,” Barbara Wolcott with Berkshire Hathaway HomeServices RW Towne Realty, president of REIN’s board of directors, said in a statement. “It probably shouldn’t be a surprise though. Mortgage rates had been falling for a while, tempting buyers to get back in the market.”

She noted that while the median selling price for September was $365,000, up 4.3% from last year, it was down slightly when compared to $370,000 in August.

September’s pending sales stood at 2,270, up from 2,212 in August, and up 13.67% from 1,997 in September 2024.

Homes spent a median of 27 days on the market in September, up from 25 days in both August and September 2024.

Founded in 1969, REIN is a regional multiple listing service that covers an area stretching from Williamsburg east to Virginia Beach and south across the North Carolina border.

Central Virginia

Central Virginia also saw its sales increase year-over-year in September. The Central Virginia Regional Multiple Listing Service divides its data between single-family homes and condos and townhomes.

In the region, there were 1,271 closed single-family home sales in September, up 2.3% from the 1,243 sold at the same point in 2024. For condo/townhomes, there were 244 sales, up 8% from September 2024’s 226.

Pending sales for single-family homes increased 8.9% year-over-year from 1,360 in September 2024 to 1,422 in September 2025. For condo/townhomes, however, there were 249 pending sales last month — a 3.5% dip from September 2024.

Single-family homes spent 33 days on the market in September — up 17.9% from the 28 days on the market the previous year. Meanwhile, condo/townhomes spent 38 days on the market, up 18.8% from the 32 reported in September 2024.

The median sales price for single-family homes was almost unchanged — $400,000 in September of this year compared to $399,995 in September 2024. But the median sales price for condo/townhomes dipped 7%, from $388,000 in September 2024 to $360,705 this year.

Single-family homes for sale in September totaled 2,944, a 6% year-over-year rise from 2,778 units, while the number of condo/townhome units for sale totaled 740, a 31% year-over-year rise from September 2024’s 565 units.

The CVR MLS includes data for the cities of Richmond, Petersburg, Hopewell and Colonial Heights and the counties of Amelia, Charles City, Chesterfield, Dinwiddie, Goochland, Hanover, Henrico, King & Queen, King William, New Kent, Powhatan and Prince George.