https://www.wavy.com/video/virginia-housing-market-could-see-a-busy-spring/
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PORTSMOUTH, Va. (WAVY) – The Virginia Association of Realtors released its January 2026 Virginia Home Sales report.
It shows a modest uptick in sales to start the year. It also shows that current market conditions are pointing towards a busier spring compared to last year.
“The overall tone of the report, and what we’re seeing out on the street is real estate is back,” said Jeremy Caleb Johnson, associate broker at Long & Foster Real Estate.
The report states that there were 5,881 home sales in January, a 2.1% increase from last January. The median average sales price was $397,790.
Inventory also trended upward with 19,207 active listings on the market, a 9.4% increase from last year.
New listings climbed, too, with more than 10,071 homes coming onto the market, 7% more than last year.
Mortgage rates held in the low-6% range, and there was also a 14% increase in pending sales compared to last January.
“I think what really stood out to me in this report is that we did have quite a surge in pending sale activity,” said Ryan Price, chief economist with the Virginia Association of Realtors.
Price explained that this shows that there is more activity in the market now. It’s also setting the stage for a busy spring.
“This year, the numbers are bearing out that as we’re thawing here in the spring, that the buyers are coming out of the woodwork, the interest rates are lower than they were last year, and we’re hoping they continue to improve,” Johnson said.
Johnson shared a tip if you’re thinking of entering the housing market.
“You want to make sure you have someone with a steady hand with the market experience, that knows what they’re doing,” Johnson said, “and that’s a realtor that you know, like and trust and that has the experience to advocate and negotiate strongly for you as a consumer.”
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