Market Report

Hampton Roads Market Report

What's happening in the Virginia Beach, Norfolk, Chesapeake, and Hampton Roads real estate market right now.

Key Market Indicators

Figures reflect the latest regional and city data available, current through September 2026. These numbers change monthly. For the most current data, contact me directly.

$430K

Median Sale Price (VB)

Up 6.8% YoY

28

Median Days on Market

VB, Sept 2026

6,357

Active Listings (Region)

Up 16% YoY, Sept 2026

98.6%

Sale-to-List (VB)

Detached, Sept 2026

By the City

Virginia Beach

Virginia Beach remains the strongest market in the region. The median sale price ran about $430,000 over the three months ending September 2026, up 6.8% year over year, with homes averaging about 28 days on market. Detached homes move even faster, with a September median of about $472,000, roughly 17 days on market, and sales closing at about 98.6% of list price. The oceanfront and coastal areas command premium pricing, while inland neighborhoods like Kempsville and Centerville offer excellent value for growing families.

Norfolk

Norfolk continues to see steady demand, especially in walkable neighborhoods like Ghent and Colonial Place. The median sale price is around $339,000, up roughly 1.2% from a year ago, with homes averaging about 32 days on market. Downtown condos appeal to young professionals and military singles, while Larchmont and East Norfolk attract families. New development and revitalization continue to drive activity.

Chesapeake

Chesapeake offers the best space-to-price ratio in the region. Its median sale price ran about $435,000 over the three months ending August 2026, the latest published figure, up about 3.1% year over year. Growing families are drawn to Great Bridge, Hickory, and Grassfield for larger lots and top-rated schools. New construction communities are expanding, and the market remains competitive for well-priced homes.

Hampton Roads Region

The regional median sale price came in at $375,000 in September 2026, up 2.7% year over year, with active listings at about 6,357, up more than 16% from a year ago and the highest level since spring 2020. Months of supply runs roughly 1.5 to 3 across the metro, still seller-favorable but moving toward balance after years of tight inventory. Closed sales ran about 2,142 in September, up 1.2% year over year, and military PCS demand plus relative affordability compared to other coastal metros keep buyer activity consistent.

What This Means for You

For Buyers

Inventory is the highest it has been in years, which means more choices and more time than buyers have had since 2020. Well-priced homes in the best neighborhoods still draw multiple offers, so get pre-approved early, be ready to move on the right home, and work with an agent who knows the market. That's where I come in. I know which homes are about to hit the market and which neighborhoods offer the best value right now.

For Sellers

This is still a favorable market for sellers, especially for homes priced correctly and presented well. Sellers are closing at about 98% to 99% of list price across the region. But overpriced listings are sitting longer and collecting days on market. A smart pricing strategy and professional marketing make all the difference. Let me show you what your home is really worth.

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