RICHMOND— According to the February 2026 Virginia Home Sales Report released by the Virginia Association of REALTORS, home sales across the Commonwealth continued to climb in February. A combination of improving inventory conditions and lower mortgage rates helped fuel buyer activity before global economic uncertainty began to unsettle financial markets.
There were 6,581 homes sold in February, an increase of 452 sales compared to last year, a 7.4% gain. Sales rose nearly 12% over January. The Association says that more than half of Virginia’s local markets (59%) recorded higher sales than the same time last year.
The association added that home prices saw modest growth last month. The statewide median sales price was $410,000, up 1.6% from February 2025. Nearly six out of ten local markets (57%) posted year‑over‑year price increases. The average sold‑to‑list price ratio was 99.2%—up from January but slightly below last year’s level.
REALTORS also noted that inventory conditions continued to improve across Virginia. There were 10,384 new listings in February, a 6.3% increase from last year. Active listings rose to 19,601, up over 9% from a year ago. About 71% of local markets had more active listings than last February, reflecting both an increase in seller activity and longer market times. The statewide median days on market rose to 23 days, up from 17 days last year.
Pending sales also strengthened. There were 7,115 pending sales in February, a 5% increase from last year. Year‑to‑date pending sales are up 9.3%, supported by lower mortgage rates earlier in the year.
“February’s data shows that Virginia’s housing market entered 2026 with solid momentum,” said Virginia REALTORS Chief Economist Ryan Price. “Higher inventory, steady buyer interest, and softer price growth were setting the stage for a busier spring season. However, the recent geopolitical tensions stemming from the Iran war have already pushed mortgage rates upward and created volatility in the bond market. How high mortgage rates climb will play a major role in determining whether the spring market maintains its pace or slows.”
Despite the emerging uncertainty, REALTORS across Virginia continue to report strong engagement from buyers and sellers who have been waiting for improved conditions.
“Even with the economic headwinds, we’re still seeing encouraging signs as we head into spring,” said Virginia REALTORS 2026 President Curt Reichstetter. “Inventory is growing, buyers have more options, and many local markets are experiencing renewed activity. REALTORS are working closely with clients to navigate these shifting conditions, and there’s still a lot of optimism about opportunities ahead.”
Read the full February 2026 Virginia Home Sales Report for detailed market trends and insights.
