Key Takeaways

• Home sales activity in Virginia rebounded in June, with sales levels increasing for the first time since January. There were 10,775 closed sales across the commonwealth in June, 757 more sales than a year ago, a 7.6% increase.
• Home prices continued their upward trajectory in most local markets. The median sales price in Virginia was $446,144 in June 2025, up by almost $15,000 since last year, increasing by 3.4%.
• A combination of higher sales levels along with rising home prices led to a significant increase in sold dollar volume. There was approximately $6.1 billion sold volume throughout Virginia in June. This is almost $700 million more than the same time last year, a 13.0% increase.
• At the end of June, there were 23,755 active listings on the market across Virginia. This represents 5,415 more listings than last year, which is a 29.5% jump in inventory levels.

Outlook

The housing market in June 2025 saw higher inventory levels paired with higher sales levels and continued price growth. Here are some key trends to watch over the coming months:

• Higher inventory levels are likely to provide much needed supply-side relief to Virginia’s housing market.
• Mortgage rates continuing to stay stable in the upper 6% range would give potential buyers more predictability about their possible housing costs while they are in the home-buying process.
• Hesitations due to higher prices and economic uncertainty could negatively impact housing market decisions and keep potential buyers on the sidelines over the next few months.

You can view the full June 2025 Virginia Home Sales Report here.