A Good Week in the Countryside; A GREAT Week in the Panhandle

Contract activity for August 17 - 23, 2025, in the Virginia Countryside and West Virginia Panhandle area was up 27.5% compared to the same seven-day period last year.

Key Takeaways

• The Virginia Countryside market was up 9.5%, another solid week. This is the fourth consecutive weekly improvement in these six jurisdictions (Fauquier, Shenandoah, Clarke, Warren and Frederick Counties, and Winchester City.)
• The West Virginia Panhandle has been on a roller coaster all year, with double-digit changes (up or down) being par for the course.  Last week, there was a very healthy 48.6% increase in the number of newly ratified contracts.

Why It Matters

• Last week, mortgage interest rates dropped to their lowest point of the year, and it certainly helped with contract activity.
• The rate drop was welcome, but there are still lots of folks who are on the outside looking in for homeownership.
• The cost of a median-priced home is more than double what it was just five years ago, the result of much higher home prices and much higher mortgage rates.
• As we have noted here before, that’s especially tough for first-time buyers.
• Homes going under contract last week were 10 days longer to sell than just a year ago – 41.4 days vs. 31.2 last year.

The Real Estate Details

• Virginia Countryside was up 9.5%, and is up 4.3% year-to-date.
• West Virginia Panhandle was up 48.6% but is down 4.9% year-to-date.