Virginia sees home sales increase in December

Virginia’s housing market ended on a strong note in 2025, reversing course after an otherwise sluggish year.

According to Virginia Realtors’ report released Jan. 21, 8,482 homes were sold throughout Virginia in December 2025, a 13.2% increase from November 2025 and a 7.3% increase from December 2024, representing 575 additional sales. The association said this increase was likely a reflection of buyers taking advantage of more listings on the market and a continued decline of mortgage rates, which were in the low 6% range for a 30-year fixed mortgage in December 2025.

“With mortgage rates settling into a more predictable range, we’re seeing early signs that the lock‑in effect is easing,” Virginia Realtors  President Curt Reichstetter, a Richmond-area broker, said in a statement. “That shift could open the door for more move‑up buyers and bring fresh momentum into the market.”

There were 5,778 pending sales in December 2025, down 15.9% from November 2025 but up 2.3% from December 2024.

About 63% of local city and county markets had more sales in December 2025 than in December 2024. The Martinsville area, the greater Piedmont region and the Eastern Shore had some of the strongest sales gains last month. In contrast, sales activity slowed in the Winchester, Prince William and Richmond regions.

The statewide median sales price in Virginia rose $1,510 year-over-year in December 2025 to $415,000, a less than 1% increase. Virginia Realtors said home prices are continuing to rise in most regions of Virginia, but the pace of growth is slowing significantly. The slowdown was reflected in the statewide sold‑to‑list price ratio, which was 99% in December 2025, down from 99.4% in December 2024 and 99.2% in November 2025.

The state had 6,745 new listings hit the market in December 2025, a 1.8% increase from the same time in 2024. In total, Virginia had 19,631 active listings on the market at the end of December 2025, which is 2,450 more than a year prior, a 14.3% gain and the state’s highest December inventory level since 2019.

When looking at 2025 as a whole, Virginia saw new listings rise by more than 14,000 compared to 2024, a 10.7% jump and the largest annual increase in more than a decade.

As inventory expands, homes are taking longer to sell, Virginia Realtors reported. Residences remained on the market a median of 24 days in December, five days longer than in December 2024, and the median days on market for the full year was 15 days, compared to 12 in 2024.

“Recent trends — like a lower sold‑to‑list ratio and rising days on market — show Virginia continuing to move toward a more balanced market,” Virginia Realtors Chief Economist Ryan Price said in a statement. “Even so, most localities still remain in sellers’ market territory.”

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