Report: Buyers Gain Leverage in Virginia Housing Market as Inventory Rises, Price Growth Slows

RICHMOND — July’s housing market was similar to that of June, with closed sales and pending sales totals higher than last year, and price levels still climbing, though at a slower pace, according to the July 2025 Virginia Home Sales Report released by Virginia Realtors.

A little more than half — 54% — of the local city and county markets around Virginia had more sales activity compared to July 2024. In July, sold volume reached about $5.6 billion statewide, a more than 6% increase from last year.

There was a surge in new listings last month, much of which occurred in Northern Virginia and Hampton Roads, Virginia Realtors said. In total, there were 13,898 listings came onto the market across the commonwealth in July, an influx of 1,459 listings compared to last year — an upswing of near