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.
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HALIFAX COUNTY, Va. (WSET) — Engines roared and tires smoked at Virginia International Raceway on Friday as Hyperfest returned to Halifax County for a three-day festival that draws thousands of automotive fans to Southside Virginia.
The event is known for putting spectators close to the action, from drift cars to racing on the Patriot Course and off-road ride-alongs. Attendee John Campbell described the up-close experience: “You’re going to get rubber all over your face,” he said.
For some, the appeal is the unpredictability. “Chaos, and that’s the most fun thing you’ll ever do,” said attendee Dkoven Hunter.
SEE ALSO: Danville honors six fallen officers at annual Peace Officers Memorial Service
Hyperfest also features novelty events, including Barbie car races scheduled for the evening. Festival founder and director Chris Cobetto said the hands-on nature is what sets it apart: “You can come, and you can do stuff, and you can see stuff, and that’s what the fun part is.”
Organizers expect the weekend to bring more than 24,000 people to Halifax County, including visitors traveling long distances to attend. Bryer Schiesser, attending for the first time, said he chose Hyperfest over a traditional graduation ceremony. “Instead of walking at graduation, I decided to come here,” he said. Schiesser and his friends drove from Pennsylvania for the festival.
Attendee Haley Brennan called the event a standout for car enthusiasts. “It’s awesome, it’s just a great place to come if you love the car community, it’s just the best thing you can do!” she said.
Tickets cost $100 per day or $155 for the whole weekend.
Those honks you heard on I-66? They weren’t from cars.
Police officers in Northern Virginia herded a family of Canada geese off the highway Thursday afternoon, as lanes were shut down to keep everyone safe.
The geese were spotted on I-66 westbound near the exit for Sycamore Street. Metro Transit Police got to them first, and Arlington County officers and Virginia State Police also responded to help, acording to Arlington County Police.
Video shows police vehicles slowly following the geese — two adults with a cluster of fuzzy yellow goslings — as they waddled along the far right shoulder toward milemarker 69.6.
Lane closures were put into effect about 1:30 p.m., and police were able to escort the geese off the highway within about 15 minutes.
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County police quipped on Facebook: “What’s good for the goose…is probably to stay of I-66. 🪿 Virginia State Police , Metro Forward Police Department, Virginia Department of Transportation and ACPD officers worked together to assist a family of geese off a busy highway in a feat so great it gave us goosebumps!”
BRISTOL, Va. (WCYB) — More than 300 pounds of marijuana worth more than $1 million were seized this month in Bristol, according to the Virginia State Police.
Multiple search warrants were executed this month by VSP and the Holston River Regional Drug Task Force in at various areas across the city between May 1 and May 13.
On May 1, a search warrant was executed at a business on Euclid Avenue. Around three pounds of marijuana was seized with a street value of $13,500. The location was within a school zone and a childcare facility.
On May 6, another search warrant was executed at a warehouse in Bristol. Virginia State Police seized 250 pounds of marijuana (street value of $1,135,000), 192 marijuana plants ($576,000), 50 pounds of THC edibles ($22,700). Charges are forthcoming, police said.
Another search warrant was executed on May 13 at a business on West State Street. Around 25 pounds of marijuana was seized with a street value of $112,500. Additional evidence was also seized.
In addition, another search warrant was executed on May 13 at a business on Paulena Drive. About 30 pounds of marijuana was seized with a street value of $135,000. Additional evidence was also seized.
The Office of the Attorney General is reviewing the investigation for any possible applicable civil enforcement actions.
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The Holston River Regional Drug Task Force includes the Town of Abingdon Police Department, Bristol Police Department, the Russell County Sheriff’s Office, and the Town of Lebanon Police Department, as well as Virginia State Police.
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