Key Takeaways

• In November, home sales activity was slower than the previous year, likely due to a combination of the beginning of holiday season along with overall economic uncertainty surrounding the federal government shutdown. There were 7,492 closed sales across the Commonwealth, 361 fewer sales than a year ago, a 4.6% decline.
• Home prices went up in more than eight out of 10 local markets in Virginia. The statewide median sales price was $425,000 in November 2025, going up $10,000 since last year, increasing by 2.4%.
• Despite rising home prices, fewer sales led to a slight decline in sold dollar volume. 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 on the market across Virginia. This represents 4,108 more listings than last year, which is a 21.8% jump in inventory levels.

Outlook

Virginia’s housing market in November 2025 saw a slight decline in sales activity due to the beginning of holiday season and the impact of the federal government shutdown. Here are some key trends to watch over the coming months:

• The holiday season and beginning of the winter months are likely to lead to lower sales activity over the next couple of months.
• At the same time, higher inventory options and lower mortgage rates will offer more options and opportunities for buyers.
• Persistent economic uncertainty and a slower job market continued to pose a risk to consumer sentiment and is likely to negatively impact Virginia residents’ big purchase decisions such as buying a home.

Read the full November 2025 Virginia Home Sales Report for detailed market trends and insights.