Posted 2/26/2024, 2:56:07 PM
Virginia Home Sales Up Slightly in January But Prices Continue to Rise Due to Low Supply
- Virginia's housing market had a slow start in January 2024 with only 31 more home sales than January 2023
- There were 15,229 active listings on the market in January, a 362 increase from last year
- Homes are staying on the market longer rather than more sellers listing homes, with 122 fewer new listings in January 2024
- The median sales price in January was $371,889, almost $22,000 higher than January 2023
- Low supply of homes for sale is driving accelerated price growth, a trend expected to continue without more listings