Key Takeaways

Key Takeaways Market Stabilization: Virginia's housing market has stabilized with 3.2% annual price growth and 42 average days on market — much more balanced than the volatile years of 2020-2024. Regional Variation: Virginia operates as multiple distinct markets, with Northern Virginia median prices ($650,000-$750,000) dramatically higher than rural areas (under $200,000) and Richmond ($380,000). Healthy Inventory: At 3.2 months of supply, Virginia finally has reasonable inventory levels, giving buyers more choices while requiring sellers to be more realistic about pricing and condition. Buyer Selectivity: Today's buyers are pickier and prefer move-in ready homes, creating challenges for properties needing significant work but opportunities for cash buyers and investors.

Virginia Real Estate Market Report February 2026: What Uncle Charles Is Seeing Across the Commonwealth

Look, I've been buying houses in Virginia for over a decade now, and I can tell you this market never fails to surprise me. From the million-dollar teardowns in McLean to the $30,000 fixer-uppers in rural Southside Virginia, this state has everything. Let me break down what's really happening in Virginia's real estate market right now.

The Big Picture: Virginia Housing Market Overview

As of February 2026, Virginia's housing market is in what I'd call a "cautious recovery" phase. After the wild ride of 2020-2024, things are settling into a more predictable pattern, though that pattern looks very different depending on where you are in the Commonwealth.

The median home price statewide is sitting around $425,000 — that's up about 3.2% from this time last year, which is a much more reasonable pace than the double-digit increases we saw a few years back. But here's the thing: that statewide number doesn't tell you much. In Fairfax County, you're looking at a median of $650,000, while in some rural counties, it's still under $200,000.

Housing Prices: The Tale of Multiple Markets

I had a homeowner call me last week from Arlington who bought their place in 2021 for $800,000 and was shocked to find out it's now worth maybe $750,000. Meanwhile, I'm talking to folks in Richmond whose homes have gained 15% in the past two years. Virginia isn't one market — it's at least five different markets, and they're all moving at different speeds.

Northern Virginia (NOVA)

The NOVA market — Fairfax, Arlington, Alexandria, Loudoun, Prince William — is where most of the state's real estate drama happens. Median home prices here are hovering around $650,000 to $750,000 depending on the exact location. The good news? Prices have stabilized after that crazy run-up. The challenging news? They're still out of reach for a lot of working families, even with good government jobs.

What I'm seeing at HOMESELL USA is a lot of NOVA homeowners dealing with properties they can't afford to fix up. When your house is worth $700,000 but needs $100,000 in work, and you don't have that kind of cash, that's where we come in.

Richmond Metropolitan Area

Richmond's been the success story of Virginia real estate lately. Median prices around $380,000, good job growth, and reasonable inventory levels. The market here feels healthy — not too hot, not too cold. Days on market average about 35-40 days, which tells me there's decent demand without the feeding frenzy we saw a few years back.

Virginia Beach/Norfolk (Hampton Roads)

The military presence keeps this market more stable than some others. Median prices around $340,000. What's interesting here is the constant turnover — military families moving in and out creates steady demand, but it also means there are always families who need to sell fast when orders come through.

Rural Virginia

This is where things get really interesting from my perspective. Rural counties are seeing some of the biggest changes. Remote work has brought some city buyers looking for more space and lower prices, but the fundamentals haven't changed much. You can still find decent homes under $200,000, but you might also find homes that have been sitting empty for years with title issues or deferred maintenance.

Sales Volume and Market Activity

Statewide, we're seeing about 125,000 home sales annually, which is down from the peak years but up from the slower periods. What tells me the most about market health isn't just the volume — it's the mix of sales.

Right now, about 15% of sales are distressed properties — foreclosures, short sales, estate sales, and properties sold for cash to companies like HOMESELL USA. That's actually a healthy percentage. When it gets above 25%, you know there are serious problems. When it drops below 10%, the market might be overheated.

Inventory Levels: Finally Some Balance

Here's some good news: Virginia finally has reasonable inventory levels. We're sitting at about 3.2 months of supply statewide, which is pretty close to the 4-6 months that most experts consider balanced. A few years ago, we were down to less than one month in some areas.

What this means for buyers: You actually have choices now. You don't have to make an offer sight unseen or waive all inspections.

What this means for sellers: Your house probably won't sell in three days with ten offers over asking. You need to price it right and maybe do some basic improvements.

Days on Market: Reality Check Time

The average days on market across Virginia is running about 42 days right now. That's up from the crazy low numbers of 2021-2022 when homes were selling in a week, but it's still pretty reasonable historically.

Here's what I tell people: if your house has been on the market for 60+ days in this environment, something's wrong. Either the price is too high, the condition is worse than you think, or there's some other issue that needs addressing.

Buyer Demand: Selective but Steady

Buyers are back, but they're pickier than they were during the frenzy years. Mortgage rates in the low 6% range have stabilized demand at a sustainable level. First-time buyers are still struggling with down payments and competition, but move-up buyers are more active.

What I'm hearing from buyers: they want move-in ready homes. The appetite for fixer-uppers is way down unless the price reflects the work needed. That's creating opportunities for investors and companies like us who specialize in problem properties.

The Problems Nobody Talks About

Here's what the traditional real estate reports don't tell you: there are thousands of Virginia properties with serious issues that keep them out of the normal market. I'm talking about:

• Properties with title problems from incomplete estate settlements
• Houses with code violations that would cost more to fix than they're worth
• Properties facing foreclosure where owners are stuck
• Homes with foundation issues, mold problems, or fire damage
• Investment properties that turned into money pits

These properties don't show up in the pretty market statistics, but they represent real families dealing with real problems. That's the part of the Virginia market where HOMESELL USA specializes.

What's Next for Virginia Real Estate

Looking ahead through 2026, I expect Virginia's market to continue stabilizing. The wild swings are probably behind us, but we're not going back to 2019 prices either. The new normal includes:

• More realistic pricing expectations
• Longer marketing times for sellers
• More choices for buyers
• Continued regional differences across the state

Whether you're buying, selling, or dealing with a problem property, the key is having realistic expectations and good information. The Virginia market rewards people who understand what they're dealing with and penalizes those who don't.

If you're sitting on a property that doesn't fit the normal market — maybe it needs too much work, has complicated ownership issues, or you just need to sell fast without the hassle — that's exactly what we handle at HOMESELL USA every day. We've seen it all in Virginia, from the suburbs of DC to the mountains of Southwest Virginia.

The bottom line: Virginia's real estate market is finding its footing after years of volatility. It's not the same market it was five years ago, and that's probably a good thing for everyone involved.

Frequently Asked Questions

Frequently Asked Questions

Q: Are Virginia home prices still going up in 2026?

A: Yes, but at a much slower pace. Statewide, prices are up about 3.2% year-over-year, which is reasonable growth compared to the double-digit increases we saw in previous years. The rate varies significantly by region — Northern Virginia has actually seen some modest decreases while Richmond and other areas continue modest growth.

Q: How long does it take to sell a house in Virginia right now?

A: The average is about 42 days on market statewide. However, well-priced homes in good condition in desirable areas can still sell within 2-3 weeks. If your home has been on the market longer than 60 days, there's likely a pricing or condition issue that needs to be addressed.

Q: Is it a good time to buy a house in Virginia?

A: It's certainly better than it was 2-3 years ago. Buyers have more choices, don't need to waive inspections, and can negotiate on price. However, affordability is still challenging with median prices around $425,000 statewide and mortgage rates in the low 6% range.

Q: What's the difference between Northern Virginia and the rest of the state's housing market?

A: NOVA (Northern Virginia) is essentially a different market entirely. Median prices there run $650,000-$750,000 compared to $200,000-$380,000 in other regions. NOVA is driven by government jobs and high incomes, while other areas have more diverse economic factors affecting their housing markets.

Q: What should I do if my Virginia house won't sell through normal channels?

A: If your property has been on the market 60+ days, needs major repairs, has title issues, or you need to sell quickly, traditional real estate might not be the answer. Companies like HOMESELL USA specialize in buying problem properties for cash, which can be a better solution than continuing to struggle with the traditional market.