The median home price in Virginia crossed the $400,000 mark for the first time in history according to the May 2022 Virginia Home Sales Report released by Virginia REALTORS®. That’s 8.7% higher than a year ago which translates to a gain of more than $32,000. Over 13,000 homes were sold in the Commonwealth last month which is an 8.5% decrease from the same time last year. The association says they expect prices to remain flat because of low supply and high demand.