Virginia real estate trends (May 2022)
Nicknamed Old Dominion, Virginia is a commonwealth that dates back to America's days as a collection of English colonies. The state is known for its role in early American history, concentration of federal agencies, and burgeoning wine industry.
Virginia's landscape rises from the banks of the Chesapeake Bay in the east to the rolling Appalachian Mountains in the west.
Its biggest cities include Virginia Beach and Norfolk, but further inland you'll find lively college towns such as Richmond, Charlottesville, and Fredericksburg. Northern Virginia is a popular choice for commuters who can take public transportation directly into Washington, D.C.
If you're thinking of buying or selling in Virginia, these Virginia housing predictions and stats can help you make an informed decision.
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Selling a home in Virginia
|Virginia real estate market forecast for sellers
|⏰ Homes are selling 18 days slower than the annual average
|💰 Homes are selling for $22,200 less than the annual average
|💸 Average listing commission: 2.72%
|💸 Average buyer's commission: 2.73%
How to sell a home in Virginia
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Virginia (June 2021 Rankings)
- 8 Steps to Selling a House in Virginia
- How to Sell a House By Owner in Virginia (2021 Update)
- 6 Best Virginia Flat-Fee MLS Companies in 2021
- 5 Virginia We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Virginia
- What's The Average Virginia Real Estate Commission In 2021?
- Virginia Seller Closing Costs in 2021: How Much Will You Pay?
- The Ultimate Guide to Virginia Real Estate Taxes
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Buying a home in Virginia
|How much home you can buy with $300,000 in...
|🏠 Virginia Beach: 1,478 sq ft
|🏡 Roanoke: 1,667 sq ft
|🏡 Richmond: 1,370 sq ft
|🏠 Lynchburg: 1,613 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Virginia
- The 5 Most Affordable Places to Live In Virginia
- The Best Time to Buy a House in Virginia
- Everything You Need to Know About Moving to Virginia
Investing in Virginia real estate
- Top 5 Best Real Estate Investment Markets in Virginia
- The Ultimate Guide to Flipping Houses in Virginia
- A Beginner's Guide to Buying an Apartment Building
Best of Virginia
Each month, we compare locations in Virginia based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.
|Happiest Counties in Virginia
|1. Fairfax County
|2. Arlington County
|3. Craig County
|4. Loudoun County
|5. Prince William County
Worst of Virginia
Each month, we compare locations in Virginia based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.
|Least Happy Counties in Virginia
|1. Brunswick County
|2. Russell County
|3. Dickenson County
|4. Buchanan County
|5. Lee County
- Department of Professional and Occupational Regulation
- Virginia's real estate license verification
- Virginia's real estate agent code of conduct
- Virginia's disclosure forms
- Transfer taxes in Virginia
- Home buying assistance programs in Virginia
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Frequently asked questions about Virginia real estate
Is it a buyer's or seller's market in Virginia?
It is currently a seller’s market in Virginia, with homes selling fast and for much more than average. Although this is the overall status of the market, each city and town is different, which is why it’s important to consult with an experienced real estate agent to understand your local trends.
Is Virginia a good state to invest in real estate?
Yes, Virginia is a good state to invest in real estate, particularly in populous areas like Virginia Beach and Richmond. But if you want to make the most out of your investment, first need to find out what types of properties are profitable and which neighborhoods to buy in. Read our guide to real estate investing to learn more.
Is it a good time to buy a house in Virginia?
It might not be the best time to buy a house in Virginia right now. Listing prices are abnormally high, and the limited inventory is causing prices to spike even higher. However, mortgage rates are lower than average. If you really need to buy, work with a real estate agent to help you find a good deal.