Virginia home sales were up 7.3 percent in December, according to the December 2025 Virginia Home Sales Report released by the Virginia Association of REALTORS® on Thursday, but with a median sales price at $415,000, the increase in home sales does nothing to address the issue for folks who continue to lack access to affordable housing.
A $415,000 home runs around $2,500 monthly for the mortgage payment. Using the 30 percent rule, you’d need to be in the $100,000 per year income range to afford a $415,000 home.
That’s higher than the $90,974 median household income in Virginia that we see from the U.S. Census.
The housing market continues to be for people who can already afford homes – and for flippers and investors, and the Airbnb and VRBO set.
If that’s you, of course, great news.
Virginia REALTORS® tells us in a news release that the increase in home sales in December “is likely a reflection of buyers taking advantage of more listings on the market and the continued decline of mortgage rates, which were in the low 6% range for a 30-year fixed in December.”
“With mortgage rates settling into a more predictable range, we’re seeing early signs that the lock‑in effect is easing,” Virginia REALTORS® 2026 President Curt Reichstetter said in the release. “That shift could open the door for more move‑up buyers and bring fresh momentum into the market.”
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Chris Graham
