Va Homes For Sale Zillow (2024)

FAQs

Is the best time to buy a house in Virginia? ›

Spring is the best season for a low-on-cash home buyer wanting to buy a house in Virginia. Sellers are easier to negotiate with because there are more homes for sale and fewer buyers.

Build Equity, Financial Stability, Tax Benefits, and more!

Additionally, Virginia's strong job market, coupled with its rich historical heritage and an abundance of natural beauty, makes it a particularly attractive state for potential homeowners.

$396,331. The average Virginia home value is $396,331, up 5.6% over the past year and goes to pending in around 9 days.

The primary reason housing is so expensive in Virginia and elsewhere is because we do not build enough of it. Research shows that zoning and land-use regulations artificially increase the price of housing by making it more expensive to build.

Conventional loan | Credit score: 620

To qualify for a conventional loan, you'll need a credit score of at least 620, though some lenders may choose to approve conventional mortgage applications only for borrowers with credit scores of 680 and up.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Con: Virginia has high sales and income tax

The tax rate in Virginia is relatively high compared to other states like North Carolina, which has a sales tax rate of 4.75%. The sales tax in Virginia is 5.3%, with additional income tax ranging from 2%-5.75%.

According to Bankrate, Virginia makes the list of the Top 20 Best States to Retire In. You'll find several wonderful cities to settle down in, as well as an abundance of amazing retirement communities. One of the biggest benefits of retiring in Virginia is the outdoor recreation you can enjoy when living in the state.

#1: Roanoke

With a median home sale price of $225,000, Roanoke comes in at number one on our list of most affordable places to live in Virginia. There are about 100,000 residents living in this mid-sized city.

Is it cheaper to live in Florida or Virginia? ›

With so much to offer you might expect Florida to be an expensive place to live but it's actually quite affordable. In fact, the cost of living in Florida is slightly less than Virginia. Of course this depends on where you live in the state, but the overall cost of living in Florida is roughly 8% lower than Virginia.

Texas enjoys a lower cost of living

Virginia, however, has a cost of living that is more than 4 percent above the national average, and almost 10 percent higher than Texas' expenses. That means that you will have to budget more for groceries, healthcare, housing and more.

Virginia Housing Market Overview

In June 2024, home prices in Virginia were up 6.3% compared to last year, selling for a median price. On average, the number of homes sold was down 11.1% year over year and there were 10,463 homes sold in June this year, down 11,768 homes sold in June last year.

Some 30% of the 1.67 million renter households in Virginia have little or no confidence in their ability to pay rent on July 1. According to a weekly survey by the Census, 1 in 5 adults in the state either missed their last housing payment or have little/no confidence of being able to make next month's housing payment.

Mortgage rates are expected to come down in 2024, and inventory and home sales are likely to increase. Homebuyers and sellers can also expect prices to continue to rise, albeit at a slower clip than the past couple of years.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

And as you might imagine, recessions are a risky time to buy a home. If you lose your job, for example, a lender will be much less likely to approve your loan application. Even if a recession doesn't affect you directly, if your area is hard-hit, that could have a serious effect on the local real estate market.