Virginia housing market slowed in November

Virginia’s housing market experienced a modest slowdown during November 2025, which Virginia Realtors attributed to both a seasonal dip and uncertainty stemming from the recent federal government shutdown.

According to a report from the trade association, Virginia saw 7,492 sales close statewide in November, 361 fewer than in November 2024, representing a nearly 5% decline year-over-year. Sales were also down 16.8% from the prior month’s 9,006 closed sales, which the association says demonstrated a seasonal slowdown as the fall homebuying season came to a close.

“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 in a statement.”

The 43-day federal shutdown from Oct. 1 to Nov. 12, 2025, was the longest in U.S. history.

“As delayed data has become available following the shutdown’s end on Nov. 12, we’re gaining a clearer picture of current economic conditions,” Price said.

Year-to-date sales activity through November 2025 was 0.7% higher than at the same time in 2024, which Virginia Realtors attributes to increased activity in summer and fall 2025. The association reports that more than half of Virginia’s counties and cities saw more cumulative sales through November 2025 than the year prior.

Pending sales rose for the ninth consecutive month, with 7,107 pending sales in November 2025 — a 3.6% increase from November 2024’s 6,863. However, pending sales were down from October 2025’s 8,450.

There were 22,978 active listings across Virginia at the end of November 2025, 4,108 more than November 2024’s 18,870, a nearly 22% increase. Homes took an average of 21 days to sell in Virginia in November 2025, up from 16 days in November 2024.

The statewide median sales price rose to $425,000 in November 2025, up $10,000 from a year prior —a 2.4% increase.

Despite home prices increasing, fewer sales led to a 3.1% decline in sold dollar volume, with approximately $4 billion sold in Virginia in November 2025, $100 million less than at the same time in 2024.

“Lower mortgage rates are bringing more buyers off the sidelines,” Virginia Realtors 2026 President Curt Reichstetter said in a statement. “Combined with higher inventory, this could create more opportunities for buyers as the market heads into early 2026.”

Based in Glen Allen, Virginia Realtors represents about 34,000 Realtors and is the state’s largest trade association.