Virginia Home Sales Climb in March, Marking Strong Start to 2026

Virginia’s housing market gained momentum in March, closing out the strongest first quarter the state has seen since 2022. New data shows more homes are being sold, more listings are hitting the market, and buyers are staying active despite ongoing concerns about mortgage rates.

According to the Virginia Association of REALTORS®, 8,388 homes were sold in March. That’s 679 more sales than the same time last year, an increase of nearly 9%. It also marks the third straight month of year-over-year growth. So far in 2026, home sales are up 6.4% year over year, signaling a rebound from a slower 2025.

Spring often brings a boost in housing activity, and March followed that pattern. Sales jumped 27.5% from February as more buyers and sellers entered the market.

Home prices continued to rise, but at a slower pace. The median sales price across Virginia reached $425,000 in March, up 1.7% from a year ago. Just over half of local markets saw price increases, suggesting that while prices are still growing, the pace is easing.

One key change is the increase in the number of available homes. There were 14,846 new listings in March, up nearly 7% from last year. Active listings also climbed to just under 21,000 homes, the highest level for March since 2020. In most parts of the state, buyers now have more options than they did a year ago.

Homes are also taking slightly longer to sell. The median time a home stayed on the market was 16 days, about four days longer than last year. Even so, homes are still moving quickly in many areas.

Pending sales, which show future buying activity, also increased. More than 10,000 homes went under contract in March, up 7.3% from last year. That number jumped by more than 40% from February, a sign that buyer interest remains strong heading into the busy spring season.

“March’s numbers confirm that Virginia’s housing market is building real momentum in 2026,” said Virginia REALTORS® Chief Economist Ryan Price. He noted that while demand is strong, mortgage rates and economic conditions could affect market performance in the coming months.

Industry leaders say the market is beginning to feel more balanced. With more homes available and steady buyer interest, both buyers and sellers may find more opportunities this spring.

While uncertainty around interest rates remains, many experts say Virginia’s housing market is off to a solid start in 2026, with signs of continued activity in the months ahead.

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