Virginia
Flat sales, soaring prices, and rising inventory highlight VA housing market in August
RICHMOND, Va. (WDBJ) – The housing market in Virginia held steady as home sales remain stagnant from last year despite increased prices and an inventory increase, according to a sales report for August released by Virginia REALTORS®.
Throughout the state, median sales price for a home in August reached $430,000, a 3.6% increase from the year before. Flat sales and higher price points pushed the sold dollar volume to $5.1 billion, up 4.4% year-over-year, according to the organization.
According to the organization, there were 24,606 active listings across the state by the end of August, a 26.2% rise from 2024. 13,000 new properties were listed in the month alone.
“Inventory growth has been one of the big stories of 2025,” says Virginia REALTORS® Chief Economist Ryan Price.
“With listings up more than 26% from last year, buyers across the commonwealth are seeing more options than they’ve had in a long time. While supply is improving, demand continues to be tempered by economic uncertainty.”
The organization mentions that properties are taking longer to sell, staying on the market for a median 17 days (five days longer than 2024). Since 2019, it has been the slowest pace in the month of August. Pending sales, however it showed a decent increase of 3.4% year-over-year.
Despite a downward trend for mortgage rates, there was a slight increase in the rate. The average 30-year fixed mortgage rate dropped just past 6.25% in the middle of September.
The president of the organization, Lorraine Arora, describes the drop in mortgage rates as a “positive sign” for buyers and sellers and if the trend continues, stronger sales could close out 2025.
About Virginia REALTORS®
Virginia REALTORS® (previously known as the Virginia Association of REALTORS®) is the largest trade association in Virginia, representing nearly 34,000 REALTORS® engaged in the residential and commercial real estate business. Virginia REALTORS® serves as an advocate for homeownership and represents the interests of property owners in the Commonwealth of Virginia. For more information, visit www.virginiarealtors.org or follow Virginia REALTORS® on Facebook and LinkedIn.
NOTE: The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
Copyright 2025 WDBJ. All rights reserved.
Virginia Delegate Dan Helmer led fellow Democrats to major gains in November’s election. Now he’s turning his attention to the redistricting of the Commonwealth, and a run in the newly proposed 7th district. He joins Sydney Persing on The Final 5 to discuss.
FAIRFAX, Va. (7News) — Virginia State Police have identified the man who was shot and killed by a trooper after a crash ended in a stabbing attack on Interstate 495 Sunday afternoon.
Jared Llamado, 32, of McLean, died at the hospital on Sunday after he was shot.
RELATED | 2 dead, dog killed after stabbing spree, trooper shooting on I-495 in Fairfax County
Investigators said Llamado was confronted by the trooper who opened fire around 1:17 p.m. The trooper was responding to a report of a road rage incident and found Llamado with a knife, according to a news release.
Four stabbing victims, all women, were also found at the scene, along with a dog that was also stabbed.
Michelle Adams, 39, died from her injuries. The dog also did not survive. The three other women were all taken to the hospital with serious injuries, according to VSP. 7News is not identifying the surviving victims.
Investigators said the stabbings stemmed from a crash in the southbound lanes of I-495.
The trooper who opened fire was not hurt and is on leave pending the outcome of the investigation into the use of force.
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Investigators said they do not believe the attack is connected to terrorism.
Virginia
Two dead after I-495 road rage incident leads to stabbing, Virginia State Police shooting – WTOP News
A road rage incident led to a shooting involving the Virginia State Police on Sunday on Interstate 495. Four individuals were also stabbed.
Two people are dead Sunday in Annandale, Virginia, after a road rage incident led to a shooting involving Virginia State Police on Interstate 495.
A release issued by the Virginia State Police said a trooper fatally shot a man after responding to a report of a road rage incident on the southbound lanes of I-495 just before 1:30 p.m. at exit 52, near the Little River Turnpike.
The man, transferred to a hospital with serious injuries, has been pronounced dead. VSP said the trooper shot in self-defense after the man confronted him with a knife.
The trooper did not suffer any injuries during the altercation.
Officials found four stabbing victims at the scene, but only identified a 39-year-old woman and a dog. Both the woman and the dog died.
Early findings suggest the stabbings took place after a crash on the Capital Beltway. The crash remains under investigation.
The VSP’s release comes after the main lanes of the Capital Beltway Outer Loop, before Little River Turnpike, were closed to traffic for several hours, only recently opening the express lanes. Main lanes between Arlington Boulevard and the Little River Turnpike remain closed.
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