RICHMOND– According to the March 2026 Virginia Home Sales Report released by the Virginia Association of REALTORS®, Virginia’s housing market continued its upward trajectory in March, closing out the strongest first quarter since 2022.
Sales activity, pending sales, and new listings all rose above last year’s levels as more buyers and sellers returned to the market.
According to the Virginia Association of REALTORS®, there were 8,388 homes sold in March, an increase of 679 sales compared to last year, an 8.8% gain. This marks the third consecutive month of year‑over‑year growth. Year‑to‑date sales are up 6.4%, reflecting a meaningful shift from the slower 2025 market. March sales also rose 27.5% from February, consistent with typical seasonal patterns.
Home prices posted modest growth. The statewide median sales price was $425,000, up 1.7% from March 2025. More than half of Virginia’s local markets (55%) recorded higher median prices than a year ago, though price growth has softened as inventory expands.
Inventory conditions continued to improve across the Commonwealth, according to the Virginia Association of REALTORS®. There were 14,846 new listings in March, up 6.7% from last year. Active listings rose to 20,979, up 6.3% from a year ago and marking the highest March inventory level since 2020. About 68% of local markets had more active listings than last March. The statewide median days on market was 16 days, four days slower than last year.
Pending sales also strengthened. There were 10,121 pending sales in March, a 7.3% increase from last year. Month‑to‑month, pending sales surged 42.2%, outpacing typical seasonal trends and signaling strong buyer engagement heading into spring.
“March’s numbers confirm that Virginia’s housing market is building real momentum in 2026,” said Virginia REALTORS® Chief Economist Ryan Price. “Sales are rising, inventory is expanding, and buyers are responding to improved conditions. While mortgage rates remain sensitive to global events and inflation pressures, the underlying demand in Virginia is still very strong. How rates move in the coming weeks will be a key factor in determining whether this pace continues through late spring.”
Despite economic uncertainty and fluctuating mortgage rates, REALTORS® across the state report active buyers, more confident sellers, and renewed energy in many local markets. “We’re seeing a spring market that feels more balanced than in recent years,” said Virginia REALTORS® 2026 President Curt Reichstetter. “With more listings coming online and steady buyer interest, many communities are experiencing a healthier level of activity. REALTORS® are helping clients navigate these shifting conditions, and there is optimism as we move further into the spring season.”
Read the full March 2026 Virginia Home Sales Report for detailed market trends and insights.
