Home prices in Virginia rose to a median of $440,000 in May 2025, up 3.5% from last year, despite a slight decline in home sales to 10,649. Sales dropped for the fourth consecutive month, but total sold volume increased by 1.3% due to higher prices. Inventory improved with a 30.6% rise in active listings, and homes stayed on the market longer, averaging 10 days. Economic uncertainty and mortgage rates are causing buyer hesitation.