BTVAR Homes Sales Report – Q4 2025
Economic Conditions
• There were approximately 4.27 million jobs in Virginia as of November 2025, this is about 8,600 more than the October 2025 totals, but down about 800 jobs from the start of 2025.
• The unemployment rate in Virginia jumped to 3.9% in November (not seasonally adjusted), up 2.9% last November. In the BTVAR footprint, the unemployment rate was 4.7%, up from 3.7% last November.
• Mortgage rates continue to drift downward. The average rate on a 30-fixed mortgage in the second week of January 2026 was 6.06%. This is the lowest it’s been since mid-September 2022.
Housing Market Conditions
• Home sales in the BTVAR region rose in the fourth quarter. There were 164 sales regionwide, 9 more than a year ago, a 6% increase.
• The quarterly median price in the BTVAR footprint fell for the second time in 2025. The regionwide median price was $165,000 in the fourth quarter, about $24,000 lower than a year ago (-13%).
• Inventory continues to expand in the BTVAR housing market. There were 280 active listings in the region at the end of the fourth quarter, a 20% increase from last year.
