RICHMOND — July’s housing market was similar to that of June, with closed sales and pending sales totals higher than last year, and price levels still climbing, though at a slower pace, according to the July 2025 Virginia Home Sales Report released by Virginia Realtors.
A little more than half — 54% — of the local city and county markets around Virginia had more sales activity compared to July 2024. In July, sold volume reached about $5.6 billion statewide, a more than 6% increase from last year.
There was a surge in new listings last month, much of which occurred in Northern Virginia and Hampton Roads, Virginia Realtors said. In total, there were 13,898 listings came onto the market across the commonwealth in July, an influx of 1,459 listings compared to last year — an upswing of nearly 12%.
“Virginia’s housing market has seen a big jump in listings for much of the past two years, but the trend has accelerated in 2025,” says Virginia Realtors 2025 President Lorraine Arora. “This trend is likely to continue. Buyers now have more options and even though the overall months of supply remains tight, the market is shifting more into balance.”
Virginia Realtors said price levels continue to climb, but the rate of growth has slowed in many local markets around Virginia. In July, the statewide median sales price was $435,000. This is $9,000 higher than a year ago, an increase of just over 2%.
“Home prices are still rising, but there are some early signs that some local markets are nearing a pivot as active listings surge,” says Virginia Realtors Chief Economist Ryan Price. “In the months ahead, price growth will likely be modest, and in some local markets, we could even see prices edge down.”
Homes are staying on the market longer in Virginia, according to the report.. The statewide median days on market was 15 in July 2025. This is five days longer than a year ago, and more than double the amount of time homes stayed on the market two years ago. The increase in supply is likely keeping homes on the market longer, though 15 days is still relatively fast compared to historical averages.
The Virginia Home Sales Report is published by Virginia Realtors. Click here to view the full July 2025 Virginia Home Sales Report.
