Key Takeaways

• There was a modest uptick in sales activity statewide to start the year. There were 5,881 home sales in Virginia in January 2026, outpacing last January by 123 sales, or 2.1%. Activity fell sharply from December, but in line with seasonal patterns.
• Home prices were essentially flat compared to a year ago at the state level, though price trends varied widely by region. The median statewide sales price in January was $397,790, inching down 0.3%, or about $1,200 from last January.
• The uptick in sales led to a small increase in sold dollar volume in Virginia’s housing market. There was about $3 billion of sold volume statewide in January, up 1.4% from a year ago, a gain of about $40.7 million.
• The supply of active listings continues to expand but the pace has moderated. There were 19,207 active listings at the end of January 2026 across Virginia, up 9.4% from this time last year, an additional 1,658 listings.

Outlook

The 2026 housing market is now underway. Here are a couple of trends to watch as we approach the spring market:

• Current market conditions are pointing towards a busier spring market ahead compared to last year. The spring market might start a bit earlier this year, as pending sales rose sharply in January, and more listings continue to hit the market. Couple these trends with mortgage rates that have hovered in the low-6% range since the start of 2026, and this could translate into more activity in the market in the coming months.
• Home price growth has softened as buyers have more options to choose from. The statewide median price has been relatively flat over the past couple months, and in some parts of the state the median price has dipped. Most parts of Virginia continue to see the median price climb, but the pace has slowed. This trend will likely continue if more listings continue to hit the market.

Read the full January 2026 Virginia Home Sales Report for detailed market trends and insights.