Markets › Virginia
Virginia housing market
In the Old Dominion, part of the Census Bureau's South Atlantic division, Pecan Street tracks five markets. Median sale prices run from $248K in Roanoke to $534K in Charlottesville as of Aug 2026. Two of five are higher than a year earlier and three are lower; Virginia Beach / Norfolk leads at +7.5% and Lynchburg trails at -2.6%.
Homes sit longest in Roanoke (64 median days on market) and sell fastest in Richmond (44 days). The share of active listings with a price cut runs from 31% in Charlottesville to 51% in Roanoke. Price-to-rent ratios run from about 10 in Roanoke to 22 in Charlottesville, measured as years of HUD Fair Market Rent per median sale price. Among the 195 U.S. metros Pecan Street tracks, the Roanoke metro has the 11th-highest share of listings with a price cut. Virginia's unemployment rate was 3.6% in Aug 2026 (BLS via FRED). The national rate was 4.2% in Sep 2026.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Charlottesville | $534K | +5.9% | 60 | 31% | ≈ 22 |
| Lynchburg | $278K | -2.6% | 58 | 39% | ≈ 15 |
| Richmond | $432K | -0.1% | 44 | 41% | ≈ 18 |
| Roanoke | $248K | -1.0% | 64 | 51% | ≈ 10 |
| Virginia Beach / Norfolk | $428K | +7.5% | 44 | 33% | ≈ 16 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Recent signals
No market signals flagged across this state right now.