Key Takeaways

• Home sales activity decreased in September for the second consecutive month. There were 8,410 closed sales across the Commonwealth, 373 fewer sales compared to a year ago, a 4.2% decline.
• The median sales price across Virginia remained unchanged from last year, but price trends varied widely across different regions. The statewide median sales price was $420,000 in September, the same as last year.
• Sold dollar volume declined mostly due to a drop in sales activity. There was approximately $4.4 billion of sold volume throughout Virginia in September. This is about $200 million lower than the same time last year, a 5.2% decrease.
• Listings activity remains strong. By the end of September, there were 30,001 active listings on the market across Virginia. This represents 5,074 more listings than last year, a 20.4% jump in inventory levels.

Outlook

Virginia’s housing market is starting to feel the impact of the upward trajectory in mortgage rates in September with fewer sales and homes staying on the market for longer. Here are some key trends to watch as we head into the fall market:

• As bond markets grapple with economic uncertainty and geopolitical tensions, mortgage rates are likely to continue feeling its impact and trend higher. If the mortgage rate trends of the past couple months remain, Virginia is likely to witness a slower fall market than last year.
• With high inventory levels and moderating home sales pace, price growth could continue to soften as we close out the year, albeit with variations across the different regions within the Commonwealth.

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