Virginia’s real estate market showcases a notable upward trend in home prices, with the median sales price reaching $440,000, marking a $15,000 increase from the previous year. This rise equates to a 3.5% increase, illustrating persistent demand for housing in the region despite ongoing challenges in home sales activity. The dynamics of the market suggest that while buyer activity may be sluggish, the scarcity of available properties continues to drive prices higher, indicating a potential imbalance between supply and demand.

– **Median Sales Price**: Virginia’s median sales price is $440,000, reflecting a $15,000 increase year-over-year.
– **Percentage Increase**: This price hike represents a 3.5% rise, underscoring ongoing market strength.
– **Home Sales Activity**: Despite increased prices, home sales remain flat, suggesting a stabilization in buyer interest.
– **Market Imbalance**: The enduring price increases alongside stagnant sales indicate a potential supply-demand imbalance in Virginia’s real estate market.

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