Category: Business

VIRGINIA HOUSING MARKET IMPROVES IN MARCH

March 2025 brought more listings and buyer activity to Virginia’s housing market.

Pending sales rose by 5.1% compared to March 2024, indicating more buyer participation.

Closed sales were down slightly by 4.5% year-over-year.

Active listings saw a significant increase of nearly 30%.

The statewide median sales price grew by 5.3% to $418,000.

Market conditions remain competitive despite the increase in inventory.

Rising inventory offers more choices for buyers.

Price growth and mortgage rate volatility could impact the spring market.

Source:

Report: March Brought More Listings and Buyers to Virginia’s Housing Market

Virginia’s housing market reported more listings and buyer activity in March 2025, according to Virginia REALTORS. Pending home sales increased by 5.1% in March compared to the previous year. Closed sales in March were down 4.5% statewide compared to March 2024. Active listings grew by nearly 30% year-over-year at the end of March. The statewide median sales price rose 5.3% to $418,000 in March 2025.

Virginia’s $2.3 billion park economy faces a staffing crisis due to National Park Service funding and job cuts. Hundreds of probationary staff were fired nationwide, including about 63 in Virginia parks, impacting services at popular destinations like Shenandoah National Park. Visitors may see reduced ranger programs, shorter operating hours, longer wait times, and decreased maintenance. Park advocates warn the cuts could harm Virginia’s significant tourism industry and park resources, despite high visitation. The NPS states the cuts are part of efforts toward fiscal responsibility and efficiency under President Trump’s administration.