HAMPTON ROADS/SOUTHEAST VIRGINIA HOUSING MARKET DATA

There was a decrease in total units sold in August, with 2,073 sold this month in Hampton Roads/Southeast Virginia Real Estate versus 2,301 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2024.

Versus last year, the total number of homes available this month is lower by 176 units or 4%. The total number of active inventory this August was 4,386 compared to 4,562 in August 2024. This month's total of 4,386 is lower than the previous month's total supply of available inventory of 4,895, a decrease of 10%.

Last August, the median sale price for Hampton Roads/Southeast Virginia Homes was $349,700. This August, the median sale price was approximately the same at $369,000. The current median sold price is 6% higher than in August 2024.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In August, there was 2.1 months of supply available in Hampton Roads/Southeast Virginia. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 2,809 homes newly listed for sale in Hampton Roads/Southeast Virginia, which is similar to the amount in August 2024. There were 2,535 current contracts pending sale this August compared to 1,938 a year ago. The number of current contracts is 31% higher than last August.

In August, the average sale price in Hampton Roads/Southeast Virginia was 99.5% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 32, higher than the average last year, which was 30, an increase of 7%.





FOCUS ON: HAMPTON ROADS/SOUTHEAST VIRGINIA HOUSING MARKET			AUGUST 2025

Units Sold 2,073	Active Inventory 4,386	Median Sale Price $369,000	Days On Market 32

Down -3% Vs. Year Ago	Down -4% Vs. Year Ago	Up 6% Vs. Year Ago	Up 7% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 2,073 sold this month in Hampton Roads/Southeast Virginia Real Estate versus 2,301 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 176 units or 4%. The total number of active inventory this August was 4,386 compared to 4,562 in August 2024. This month's total of 4,386 is lower than the previous month's total supply of available inventory of 4,895, a decrease of 10%.
		Median Sale Price Last August, the median sale price for Hampton Roads/Southeast Virginia Homes was $349,700. This August, the median sale price was approximately the same at $369,000. The current median sold price is 6% higher than in August 2024. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 2,809	Current Contracts 2,535	Sold Vs. List Price 99.5%	Months of Supply 2.1

No Change Vs. Year Ago	Up 31% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In August, there was 2.1 months of supply available in Hampton Roads/Southeast Virginia. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 2,809 homes newly listed for sale in Hampton Roads/Southeast Virginia, which is similar to the amount in August 2024. There were 2,535 current contracts pending sale this August compared to 1,938 a year ago. The number of current contracts is 31% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Hampton Roads/Southeast Virginia was 99.5% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 32, higher than the average last year, which was 30, an increase of 7%.


	*Defined as the counties of Hampton City, Isle of Wight, James City, Southampton, Surry, York and the cities of Chesapeake, Franklin, Williamsburg, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach in VA.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by REIN/WAAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of REIN/WAAR or Long & Foster Real Estate, Inc.