Virginia Home Sales Dip in November as Inventory Grows and Buyers Regain Options

Virginia’s housing market saw a typical late-fall cooldown in November, with sales dipping slightly from last year while homebuyer options continued to expand. According to the latest Virginia Home Sales Report released by Virginia REALTORS®, 7,492 homes were sold across the state last month—a decrease of 361 sales, or 4.6%, compared to November 2024.

The slowdown also marked a 16.8% drop from October, reflecting both seasonal trends and broader economic uncertainty linked to the federal government shutdown that ended mid-November.

“The slight slowdown in sales activity we saw in November reflects a combination of typical seasonal patterns and uncertainty caused by the federal government shutdown and ongoing federal employment and contracting cuts in some of our larger regions,” said Virginia REALTORS® Chief Economist Ryan Price.

Despite fewer transactions, home prices across Virginia continued to climb. The statewide median sales price in November rose to $425,000, a $10,000 increase year-over-year, representing a 2.4% gain. More than 80% of local housing markets in Virginia reported higher median sales prices compared to November 2024, showing continued demand even as buying activity slowed.

However, the drop in closed sales contributed to a 3.1% decrease in total sold dollar volume, which fell to around $4 billion—roughly $100 million less than the same month last year.

One of the most notable shifts in November was the increase in active listings. At month’s end, there were 22,978 homes on the market—4,108 more than last year, marking a 21.8% increase in inventory across the state. More choices may offer relief for buyers who have struggled with limited options in recent years.

This rise in inventory comes at the same time as improving buyer sentiment. Pending sales—contracts signed but not yet closed—rose in November for the ninth consecutive month.

“Lower mortgage rates are bringing more buyers off the sidelines,” said Virginia REALTORS® 2026 President Curt Reichstetter. “Combined with higher inventory, this could create more opportunities for buyers as the market heads into early 2026.”

While seasonal slowdowns are common in late fall and early winter, this year’s market has been shaped by unique challenges. The recent federal government shutdown, which lasted from October 1 through November 12, disrupted data collection and created uncertainty in parts of Northern Virginia and the Hampton Roads region—areas where federal employment and contracting play a large role in the local economy.

Now that the shutdown has ended, delayed data is helping economists and analysts get a clearer picture of how the economy—and by extension, the housing market—is performing as 2025 draws to a close.

Looking ahead, the combination of lower borrowing costs, growing inventory, and gradual price increases could position Virginia’s real estate market for a more balanced start to 2026. Buyers who were previously priced out or sidelined due to limited supply may find more favorable conditions in the coming months.

For detailed breakdowns by region and in-depth analysis, the full November 2025 Virginia Home Sales Report is available at www.virginiarealtors.org.