Virginia

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

Published

1 year ago

on

May 5, 2025

By

Press Room

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.

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Virginia

Virginia governor signs paid leave law, first in the South – WTOP News

Published

9 hours ago

on

May 12, 2026

By

Press Room

Virginia governor signs paid leave law, first in the South – WTOP News

Virginia’s governor has signed the state’s Paid Family and Medical Leave Law, making the commonwealth one of more than a dozen states offering similar benefits and the first in the South to do so.

Virginia’s governor signed the state’s Paid Family and Medical Leave Law last month, making the commonwealth one of more than a dozen states offering similar benefits and the first in the South to do so.

Gov. Abigail Spanberger made it official, saying the law is designed to help smaller businesses retain employees who encounter difficult times.

“Whether you punch a timecard, swipe a badge or work primarily for tips, you will be able to take up to 12 weeks of paid leave to address serious health needs for you and your family,” she said.

The program works similarly to unemployment insurance. Employees and employers will pay into it through payroll deductions starting in 2028. If needed, a person can receive up to 80% of their wages for up to 12 weeks. Benefits are expected to become available in December 2028.

The law is expected to apply to most workers across the state, including many who don’t currently have paid leave through their jobs.

“Three million Virginians who previously lacked access to paid family leave will have the ability to care for a loved one, to recover from a serious illness or to welcome a new child without sacrificing their pay or without ending that time with additional credit card debt. Because no one should have to choose between spending time with their newborn and paying their bills,” Spanberger said.

It also covers caring for a sick family member and can help someone dealing with domestic violence, sexual assault or stalking.

Speaking at the signing, Monica Jackson, who owns a childcare center in Springfield, said the program will help small businesses compete and better support working families.

“Enabling programs like mine to remain open, to operate sustainably and to continue serving the families who rely on us for their financial stability,” Jackson said.

State Sen. Jennifer Boysko, the bill’s chief sponsor, said she worked on the policy for eight legislative sessions and is happy to see it officially become law.

“Virginia families are going to have the grace to care for themselves and their loved ones during these most serious events without going bankrupt,” Boysko said.

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Virginia

Virginia Supreme Court voids voter-approved redistricting referendum

Published

21 hours ago

on

May 11, 2026

By

Press Room

Virginia Supreme Court voids voter-approved redistricting referendum

On May 8, the Virginia Supreme Court ruled that the General Assembly violated the state constitution when it tried to redraw congressional districts, nullifying the results of the April election in which Virginians narrowly approved redistricting.

Electoral maps are usually redrawn once every 10 years, but multiple states began redrawing them early after President Donald Trump urged Republicans to redraw district lines to ensure more favorable results for the party in the November 2026 elections.

This started a nationwide political battle for control of the U.S. House of Representatives. Texas was the first of several states to redraw districts favoring Republicans, and Virginia Democrats had proposed a constitutional amendment to allow redistricting in order to favor Democrats.

As of May 8, Republicans had initiated redistricting efforts in eight states; Democrats had led redistricting efforts in three states, including Virginia, the Washington Post reported.

In April, Virginia voters supported the redistricting amendment with 51.7% voting for it out of more than 3 million ballots cast. It could have given Democrats up to four extra seats in the U.S. House, according to the Washington Post (subscription required).

But the Virginia Supreme Court, in a 4-3 ruling, found that there were procedural errors in how the Democratic legislature handled the process, nullifying the election results.

The Virginia Constitution says that proposed constitutional amendments must pass in the General Assembly twice before the public can vote on them: once before an election of the House of Delegates, and again after an election. According to the Virginia Supreme Court majority opinion written by Justice D. Arthur Kelsey, early voting for the general election had already been open for six weeks when the General Assembly cast its first vote on the amendment in October 2025, with more than 1.3 million voters having already cast their ballots.

“This violation irreparably undermines the integrity of the resulting referendum vote and renders it null and void,” the court majority opinion stated.

The court’s ruling means the state reverts to the old district maps adopted in 2021. Based on those maps, Virginia voters elected six Democrats and five Republicans to the U.S. House.

Following the court’s ruling, some Virginia Democrats who planned to run for the U.S. House told the New York Times that they have to abandon their campaigns, while others, such as Tom Perriello who is running for the 5th District, face much more difficult campaigns.

Virginia Democrats on Friday asked the court to pause the nullification of the referendum results while they prepare their appeal to the U.S. Supreme Court, according to VPM.

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