Hampton Roads Market Update

Here's my take on what's happening in the Hampton Roads real estate market right now and what it means for buyers and sellers.

The Big Picture

The Hampton Roads market is active and moving toward balance. Inventory has climbed to near 2.9 months of supply, its highest level in years, giving buyers more choices while well-priced homes still sell fast. The regional median sale price was $388,950 in August 2026, up 5.1% year over year, and Virginia Beach remains the tightest, strongest market in the region with a median around $430,000, up 7.4% year over year.

For Buyers

Competition is real but manageable. The key is being pre-approved, knowing your budget, and being ready to act when the right home comes up. I monitor new listings daily and can get you in the door before the crowd shows up. In this market, having an experienced agent isn't optional. It's essential.

For Sellers

This is still a favorable market for sellers, but the days of listing any home at any price and getting multiple offers are winding down. Pricing strategy matters more than ever. Homes priced correctly are selling fast and strong. Overpriced homes are sitting and eventually reducing, which signals weakness to buyers.

What to Watch