August brought some notable changes to Virginia’s housing market. Closed home sales dipped by 4.6%, settling at 8,985 for the month, yet year-to-date sales are actually up 3.6%. The median home price continues its steady climb—now at $449,000, a 4.4% increase. We’re also seeing a 13.8% rise in active listings, which means more choices for buyers, though higher mortgage rates have cooled the pace of transactions across the board.
After 25 years in Virginia real estate, I know firsthand how these shifts can impact every stage of life—whether you’re buying your first home, looking to move up, or considering a change that fits your next chapter. Staying grounded and well-informed is essential, especially when the market feels unpredictable. As always, I believe that thoughtful decisions—guided by clear communication and a deep understanding of our local trends—are key to building long-term wealth through homeownership.
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