Virginia Sales Growth Extended Into Late-Q1

Virginia closed 8,388 sales in Late-Q1, ↑8.8% yearly despite 679 fewer than a year earlier. It was the third straight month of growth.
Year-to-date sales ↑6.4% yearly, making current Q1 Virginia’s strongest first quarter since 2022. Statewide median price reached $425K, ↑1.7% yearly.
Sold dollar volume hit $4.5B in Late-Q1, ↑10.3% yearly, about $421M higher. Year-to-date volume was ↑7.9%, roughly $800M above prior-year Q1.
Inventory improved statewide. Active listings reached 20,979 by Late-Q1’s end, ↑6.3% yearly, the highest March-level Virginia had seen since March 2020.
More listings gave buyers more options, while slower price growth reflected added supply. Still, supply remained tight statewide, and pent-up demand continued exceeding availability.