RICHMOND — Virginia’s housing market experienced a modest slowdown in November, according to the November 2025 Virginia Home Sales Report released by Virginia Realtors.
According to the report, there were 7,492 closed sales across the commonwealth last month — 361 fewer than in November 2024, representing a nearly 5% decline. Sales also fell 16.8% from October, signaling 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,” says Virginia Realtors Chief Economist Ryan Price. “As delayed data has become available following the shutdown’s end on November 12, we’re gaining a clearer picture of current economic conditions.”
Home prices continued to rise across most of Virginia, according to the trade association, with more than eight out of 10 local markets seeing higher median sales prices compared to last November. The statewide median sales price reached $425,000 in November, up $10,000 from a year ago — a 2.4% increase.
Despite rising home prices, fewer sales led to a slight decline in sold dollar volume, it added. There was approximately $4.0 billion sold volume throughout Virginia in November. This is about $100 million lower than the same time last year, a 3.1% decrease.
At the end of November, there were 22,978 active listings across Virginia — 4,108 more than last year, a nearly 22% increase in inventory, Virginia Realtors said. Pending sales also rose for the ninth consecutive month.
“Lower mortgage rates are bringing more buyers off the sidelines,” says Virginia Realtors 2026 President Curt Reichstetter. “Combined with higher inventory, this could create more opportunities for buyers as the market heads into early 2026.”
Read the full November 2025 Virginia Home Sales Report for detailed market trends and insights.
