Northern Neck Homes

Northern Neck Real Estate Market: Q2 2025 Snapshot

The Northern Neck Housing Story: Summer 2025

Summer in the Northern Neck is a season of warm breezes, waterfront sunsets, and shifts in the housing market that can set the tone for the months ahead. As July turns to August, the market is telling a story — one of balance, opportunity, and new possibilities for both buyers and sellers.

The Big Picture: Steady With More Choices

Virginia’s economy added more than 1,200 jobs in May, though our region’s unemployment rate rose slightly to 4.6%. Mortgage rates remain steady at 6.75% for a 30‑year fixed loan — nearly unchanged from last year. In the Northern Neck real estate market, sales activity dipped slightly, but buyers have more homes to choose from than they have in recent years.

Sales Activity: A Slight Dip in Closings

The region recorded 352 closed sales in the second quarter — just seven fewer than last year, a 2% decline. Some counties are seeing growth, others a slowdown:

  • Essex County sales surged +44%.
  • Lancaster County rose +22%.
  • Westmoreland County fell ‑20%.
  • Northumberland County dropped ‑18%.

Home Prices: Mostly Holding Steady

The median sales price across the Northern Neck housing market was $340,000 — up just $1,000 from last summer. But the county‑level shifts are more dramatic:

  • Richmond County jumped +35% to $369,000.
  • King & Queen County climbed +17%.
  • Northumberland County fell ‑16% to $415,000.
  • Lancaster County dipped ‑3% to $362,900.

Inventory: A Healthier Market for Buyers

At the close of the second quarter, there were 590 active listings, up 15% from last year. That translates to a 6.0 months’ supply of homes — a balanced market by industry standards, and a clear sign that buyers now have breathing room to explore options without the intense bidding wars we’ve seen in past years.

Days on Market: Sales Are Taking Longer

Homes spent a median of 48 days on the market this summer — 10 days longer than a year ago. This slower pace reflects a market that’s shifting toward balance, giving buyers time to make thoughtful decisions and sellers time to connect with the right offer.

What This Means for You

If you’re selling: Well‑priced, well‑presented homes are still moving. Staging, professional photography, and smart marketing can help you stand out in a more competitive landscape.
If you’re buying: You finally have more choices and more negotiating power. A balanced market means you can shop strategically instead of rushing.

Final Takeaway

The Northern Neck real estate market in Summer 2025 is steady, balanced, and full of opportunities. Whether you’re buying your first home, moving up, or considering a sale, this is a season for smart, well‑timed moves.

Equal Housing Opportunity Disclaimer:
This content is provided for informational purposes and in the spirit of equal housing access for all, regardless of race, color, religion, sex (including gender identity and sexual orientation), familial status, disability, or national origin.