Virginia Home Sales Rise Again in October: Lower Mortgage Rates and More Homes Give Buyers a Boost

Virginia’s housing market kept climbing in October, giving buyers a better shot at finding a home. According to the latest report from Virginia REALTORS®, home sales were up 3.1% compared to last year, thanks to lower mortgage rates and more homes being listed for sale.

At the end of October, there were 25,196 homes for sale across the state. That’s over 5,000 more listings than this time last year—a 25.7% jump in inventory. More choices are helping ease the tight housing market that had frustrated many buyers.

“Virginia’s housing market is showing strong momentum as we continue into the fall,” said Lorraine Arora, 2025 President of Virginia REALTORS®. “With more homes coming onto the market and sales continuing to grow, Virginians are finding more opportunities to buy and sell in communities across the Commonwealth.”

The total dollar value of homes sold in October topped $4.9 billion, up about 8% from last year. That’s roughly $400 million more in home sales than in October 2024.

Prices are still rising across most of the state. The median sales price in Virginia last month was $430,000, which is $15,000 more than a year ago—a 3.6% increase. Even with more homes available, the demand for housing continues to push prices higher.

Experts say that mortgage rates staying around 6% have helped many buyers feel more confident about jumping into the market. That’s also motivating some sellers who had been waiting on the sidelines.

“Mortgage rates remaining in the low 6% range have encouraged potential buyers and allowed for renewed motivation among some sellers,” said Ryan Price, Chief Economist for Virginia REALTORS®. “While the recent government shutdown has restricted insight into some economic trends, rising prices and a cooling labor market continue to pose challenges.”

Despite some economic uncertainty, the fall real estate season has been stronger than expected. If current trends continue, more Virginians could find success in the housing market in the months ahead.

To view full details, charts, and local trends, visit Virginia REALTORS® and read the full October 2025 Home Sales Report.