BTVAR Homes Sales Report – Q3 2025
Economic Conditions
• Virginia’s job market expanded in August, with 7,200 more jobs than July. This is the strongest monthly gain so far this year.
• The unemployment rate in Virginia climbed to 3.9% in August (not seasonally adjusted), up from last August when it was 3.3%. In the BTVAR region, the unemployment rate was 4.6%, up from 4.1% last August.
• Mortgage rates have been trending down in recent weeks. The average rate for a 30-year fixed mortgage was 6.27% in mid-October 2025. A year ago, the average interest rate was 6.44%.
Housing Market Conditions
• Sales activity increased in the BTVAR footprint this quarter. There were 183 closed sales regionwide in the third quarter of 2025, 12 more sales than the third quarter of 2024, a 7% gain.
• Home prices are still climbing in much of the area. The third quarter median sales price in the BTVAR market was $185,000, up $11,000 from a year ago, a 6% increase.
• There continue to be more listings on the market in the BTVAR footprint. There were 285 active listings regionwide at the end of the third quarter, a 13% increase from last year.
