Year-to-Date Overview of Home Prices in Virginia – Virginia REALTORS®

Virginia’s housing market is off to a steady start in 2025, with price trends shifting by region. While high-demand areas continue to see considerable price appreciation, smaller markets are quietly recording larger percentage gains in the state compared to the previous year. This blog analyzes the year-to-date (YTD) median sales prices from January to March 2025 for key metropolitan areas in the commonwealth. 

Northern Virginia 

• 2025 YTD Median Price: $664,000 

• 2024 YTD Median Price: $629,500 

• YoY Change: +$34,500 (+5.2%) 

Northern Virginia continues to be the most expensive region in the state, with prices expected to keep rising through 2025. The year-to-date median home price is $664,000, an increase from $629,500 just a year ago. This $34,500 rise illustrates the area’s ongoing attractiveness to high-income professionals and federal employees. Although there are concerns about affordability, a strong job market and limited housing inventory are driving demand, which in turn keeps prices steadily increasing. 

 Hampton 

• 2025 YTD Median Price: $345,000 

• 2024 YTD Median Price: $329,000 

• YoY Change: +$16,000 (+4.6%) 

The Hampton Roads region has experienced a notable increase in home values, with the year-to-date median price rising to $345,000, an increase of $16,000 compared to last year. This 4.6% gain reflects strong buyer demand in the area, driven primarily by military employment, port activity, and a growing interest in coastal living.  

Richmond 

• 2025 YTD Median Price: $389,975 

• 2024 YTD Median Price: $370,000 

• YoY Change: +$19,975 (+5.1%) 

Richmond remains one of Virginia’s strongest-performing real estate markets, with its year-to-date median sales price reaching $389,975, reflecting an increase of nearly $20,000 compared to last year. The city’s economic diversity, urban revitalization, and appeal to first-time buyers and the workforce are driving steady price growth.  

Roanoke 

• 2025 YTD Median Price: $293,475 

• 2024 YTD Median Price: $274,750 

• YoY Change: +$18,725 (+6.4%) 

Roanoke’s year-to-date median home price jumped by more than 6%, climbing from $274,750 to $293,475 compared to this time last year. This $18,725 gain reflects a growing demand for affordable housing options outside of Virginia’s urban cores. With a combination of small-town charm and economic growth initiatives, Roanoke is attracting both retirees and younger buyers seeking value. 

 Lynchburg 

• 2025 YTD Median Price: $300,000 

• 2024 YTD Median Price: $281,000 

• YoY Change: +$19,000 (+6.3%) 

Lynchburg stands out as one of the fastest-growing markets in Virginia, with a 6.3% increase pushing the median price to $300,000. That’s up from $281,000 a year ago. The $19,000 gain highlights how smaller metros are gaining traction as affordability pressures in larger markets push buyers into less competitive regions. Educational institutions and stable employment continue to support the area’s growth. 

 Charlottesville 

• 2025 YTD Median Sales Price: $479,001 

• 2024 YTD Median Sales Price: $449,950 

• YoY change: +$29,051(+6.1%) 

As of this year, Charlottesville’s median sales price has climbed to $479,001, marking an increase of $19,426 from the same timeframe last year. The market is surpassing other areas with a 6.1% rise in prices, indicating that the demand in this desirable university town remains strong. 

 Winchester  

• 2025 YTD Median Sales Price: $420,000 

• 2024 YTD Median Sales Price: $407,483 

• YoY change: +$12,517(+3.0%) 

Winchester has seen moderate price increases this year, with the median home price rising from $407,483 to $420,000. This is an increase of more than $12,517, or 3.0%, compared to the previous year. This growth is likely driven by migration from Northern Virginia and buyers looking for more affordable housing options within reach of the D.C. metro area. 

 Blacksburg 

• 2025 YTD Median Sales Price: $285,000 

• 2024 YTD Median Sales Price: $267,800 

• YoY change: +$17,200(+6.0%) 

Blacksburg has experienced a consistent increase of 6.0% in its year-to-date median sales prices, with the median value rising from $267,800 to $285,000. This represents a $17,200 increase compared to the same time last year. The rise in prices is influenced by factors such as inventory shortages, demand for student housing, and the economic impact of Virginia Polytechnic Institute. 

 Harrisonburg 

• 2025 YTD Median Sales Price: $343,600 

• 2024 YTD Median Sales Price: $330,950 

• YoY change: +$12,650(+3.7%) 

Harrisonburg’s housing market has experienced growth over the past year. The year-to-date median home price increased by $12,650, reaching $343,600 so far in 2025. This increase is attributed to a combination of steady demand and limited inventory, which saw a 3.7% price increase year-over-year. The city’s appeal, bolstered by its vibrant community and proximity to educational institutions, continues to attract buyers, contributing to the upward pressure on home prices.  

Virginia’s 2025 housing market is showing steady, regionally diverse growth. While NOVA remains the price leader, smaller markets like Roanoke, Lynchburg, and Blacksburg are seeing some of the highest percentage gains, signaling increased demand in traditionally overlooked areas. With affordability challenges pushing buyers into secondary metros, these emerging markets may continue to outperform expectations.  

For more information on housing, demographic and economic trends in Virginia, be sure to check out Virginia REALTORS^® other Economic Insights blogs and our Data Page.