Mary Ann Burstein, Realtor

08/21/2026

Virginia’s Housing Market Posts Modest July Gains as Rising Mortgage Rates Temper Buyer Activity
Sales momentum cooled last month, but buyers are benefiting from increased inventory
Richmond, VA – (August 21, 2026) – According to the July 2026 Virginia Home Sales Report released by Virginia REALTORS®, Virginia’s housing market continued to show signs of resilience in July, though rising mortgage rates appear to be cooling activity among some prospective buyers as pending sales dipped for the first time in a year and a half. Closed sales remained slightly above last year’s level, home prices continued to rise, and inventory expanded significantly, giving active buyers more options across much of the Commonwealth.
There were 10,362 closed sales statewide in July, 1.8% more than last year. While sales activity remained positive, this was the smallest year-over-year increase recorded so far in 2026. Through the first seven months of the year, home sales in Virginia are still running nearly 5% ahead of 2025 levels.
One emerging trend in July was a decline in pending sales. There were 8,754 pending transactions statewide, down 4.7% from a year ago. It marked the first year-over-year drop in pending sales in 18 months and may signal that rising rates are beginning to affect some buyers' purchasing decisions.
Home prices continued to trend upward in most regions of the state. The statewide median sales price reached $448,000 in July, a gain of $13,000 from a year ago, representing a 3% increase. Sold dollar volume also increased, climbing to approximately $5.8 billion statewide, driven by both higher home prices and modest growth in sales activity.
At the same time, inventory growth continued to reshape market conditions. Virginia had 28,357 active listings at the end of July, an increase of 13.4% compared to a year ago and the largest inventory gain so far this year. New listings also rose sharply, increasing 9.1% from last July. While inventory is expanding, supply remains relatively limited overall, with 3.1 months of supply statewide.
Ryan Price, Chief Economist for Virginia REALTORS®, said, “July’s data points to a housing market that remains active but is becoming increasingly sensitive to borrowing costs. Mortgage rates moved higher throughout the month, and we saw the first decline in pending sales in a year and a half. Even so, inventory growth continues to be a bright spot, providing buyers with more choices than they’ve had in several years while helping to support a healthier balance between supply and demand.”
VAR's 2026 President Curt Reichstetter said, “The market is evolving, but opportunities remain for both buyers and sellers. Buyers who stay in the market are benefiting from a growing selection of homes, while sellers continue to see strong home values and interest from motivated purchasers.”

Read the full July 2026 Virginia Home Sales Report for detailed market trends and regional insights.https://virginiarealtors.org/research/reports/home-sales-reports/july-2026-home-sales-report/

06/13/2026

Lower Asking Prices Are a Win for Today’s Buyers

If affordability has been your top concern, the recent dip in prices is an opening. Want to see what that looks like in our area? Let’s connect.

If affordability has been the biggest thing standing between you and a home, there's a little good news.

06/11/2026

Two Big Reasons To Move This Summer

Could waiting until later this year work out? Sure. But it's important to understand what you may gain by moving now too – that way you have the full picture before you decide.

If a 2026 move is on your radar, let’s connect and talk about what matters most to you. Depending on your priorities, Summer could be your moment.

A lot of people who want to move are telling themselves the same thing: "Maybe I'll just wait until later this year once things calm down."

06/09/2026

Could Moving a Bit Further Out Change Everything About Your Budget?

Affordability is a real challenge, but it's not an unsolvable one. The key is being open to places you might not have considered before. A local real estate agent can help you find them.

Ready to find out which areas have the best affordability right now? Reach out today.

Whether you're dreaming about buying your first home or wondering if it’s time to move on from the one you're in, affordability is probably weighing on your mind.

06/06/2026

What Rising Inflation Means for Your Move

Inflation is still above where the Fed wants it, and that means mortgage rates are likely to stay elevated for a while. But for people who need to move, strategy matters far more than trying to perfectly time the market.

Wondering what this means for your specific situation? Reach out today. Let's cut through the noise together and make a plan that actually works for you.

Data shows inflation is moving in the wrong direction. But before the headlines send anyone into a panic, here's what's actually going on, why it matters for the housing market, and what it means if you're thinking about buying or selling.

06/04/2026

The Mid-Year Housing Market Update: Why Forecasts Changed in 2026

The housing market hasn’t rebounded as quickly as experts originally hoped. But that doesn’t mean it’s stalled.

Higher inflation and lingering economic uncertainty caused economists to revise their forecasts for this year. But importantly, when those two things settle down, many experts believe the market will regain its momentum.

So don’t see this revision in forecasts as a sign of trouble. See it as a temporary reaction to overall conditions and uncertainty.

If you want to know what’s happening in our local market, and what it could mean for your plans for the rest of this year, let’s connect.

If the housing market feels confusing right now, you’re not alone.

06/02/2026

Less House, More Home: Why Smaller Homes Are Paying Off for Today’s Buyers

Today’s smaller single-family homes and condos have more going for them than the square footage suggests. They can give your budget some breathing room and put you in a community designed with lifestyle in mind.

Curious about the options in our area? Let's connect.

You started shopping with a specific mental image of your future home in your mind. Then the houses in your budget came in smaller than you pictured.

05/30/2026

The Real Reason Some People Are Still Moving Right Now

Life changes. Priorities shift. Families grow. Kids move out. Careers evolve. And eventually, the house you’re in may stop fitting the life you’re living.

If that’s been weighing on you lately, let’s talk through what your options could realistically look like today, no matter where rates or prices are.

Life can’t always wait for perfect market conditions. Maybe you don’t have to either.

You may be telling yourself you’re going to wait to move – maybe you’re hoping mortgage rates will come down, prices will fall, or the market will feel a little easier.

05/28/2026

The Truth About Affordability Today

Yes, rates have been volatile, and global instability is keeping them from settling down anytime soon. There’s no sugar coating that. But the full picture of affordability is more nuanced than the headlines suggest.

Want to run the real numbers for your situation? Let's talk. Reach out and let's set up a quick, no-pressure conversation.

Let's be real with each other for a second about affordability.

05/28/2026

A huge thank you to Corcoran McEnearney for sponsoring the Best of the West End Festival! We’re incredibly grateful for the generous support and commitment to our community.

Be sure to stop by the Corcoran McEnearney booth and meet the amazing Realtors Angie Delboy , Shagufta Hassan and Mary Ann Burstein for local housing market update real estate news & trends.

We look forward to seeing everyone on Saturday, June 6th from 12 PM to 6PM at Cameron Station.
Angie Delboy Northern VA Real Estate Pro
Mary Ann Burstein, Realtor
Shagufta Hassan