Hampton Roads Real Estate Market Showing Signs of Strength — But Let’s Talk About the Data First
I was digging into the latest numbers from the Real Estate Information Network (REIN) this week, and something hit me that’s worth mentioning right up front…
👉 We don’t just have one set of real estate stats in this region.
We have multiple MLS systems, multiple associations, and multiple data sets—each telling a slightly different version of the same story.
That can make things… confusing.
So when I share these updates, just know this:
These particular numbers are from REIN MLS, which covers a large portion of Hampton Roads—from Williamsburg to Virginia Beach and beyond. It’s one of the best snapshots we have, but it’s not the only one.
That said, the story this month is pretty clear.
The Headline: The Market Is Stronger Than It Was a Year Ago
Across the board, March numbers came in higher than March 2025:
Settled Sales: ⬆️ 7.06% Pending Sales: ⬆️ 11.95% Active Listings: ⬆️ 4.95% Median Sales Price: ⬆️ 3.75%
That’s a clean sweep.
And honestly? Not entirely surprising.
Mortgage rates were a bit more favorable than they were a year ago, and buyers have clearly been stepping back into the market.
Local Highlights (This Is Where It Gets Interesting)
Let’s zoom in a bit.
Peninsula (Our Neck of the Woods)
James City County: ⬆️ 40.8% in sales (71 → 100 closings) Newport News: ⬇️ 9.4% Hampton: ⬇️ 8.8%
That’s a pretty big divergence.
👉 James City County is seeing strong demand, while nearby areas are a bit more uneven.
Southside Standouts
Smithfield / Isle of Wight: ⬆️ 69.7% (huge jump) Chesapeake: ⬆️ 29.3% Suffolk: ⬆️ 26.3%
Those are big numbers, especially in the more “value-oriented” markets where buyers are stretching for affordability.
Inventory Is Up… But Still Tight
Active Listings: 4,766 (up ~5%) Months Supply of Inventory: 2.25
Here’s the reality:
👉 Anything under 4–5 months is still considered a seller-leaning market.
So while inventory is improving slightly, we are still very much in a constrained environment.
And that’s exactly why…
Homes Are Still Moving Quickly
Median Days on Market: 22 days (Down from 30 days just last month)
That’s a big shift month-to-month.
We’re seeing this play out in real time:
👉 Some homes are still going quickly with strong offers
👉 Others are sitting if they’re overpriced or need work
Pricing and presentation matter more than ever.
Prices Continue to Climb (But Moderately)
Median Price: $360,000 Up from $347,000 last year
That’s about a 3.75% increase year-over-year.
Not explosive… but steady.
And in this market, steady is healthy.
New Construction Is Picking Up
New Construction Sales (via MLS): 267 Up from 222 last year
Builders are clearly trying to fill the gap where resale inventory is tight.
But keep in mind:
👉 This only reflects homes listed in the MLS—not all new construction activity.
My Take (From the Ground Level)
Here’s what I’m seeing out there day-to-day:
Buyers are active again, but more selective Sellers still have leverage—but only if priced correctly Inventory is improving—but not enough to shift the balance yet
And maybe most importantly…
👉 Not all markets within Hampton Roads are behaving the same way
That’s why I always caution against relying on just one set of numbers.
Real estate is hyper-local.
What’s happening in Virginia Beach or Chesapeake might look very different from what’s happening in Williamsburg, Yorktown, or New Kent.
Why I Share These Updates
I write these posts because I think there’s a lot of noise out there when it comes to real estate.
National headlines don’t always apply locally.
And even local data can be… fragmented.
My goal is simple:
👉 Break it down in a way that actually helps you make decisions
Whether you’re:
Thinking about selling Trying to time a purchase Or just keeping an eye on the market
About Me (And How I Can Help)
I’m John Womeldorf, also known as Mr. Williamsburg.
I’ve been listing and selling homes across Williamsburg, Richmond, and Hampton Roads for over 20 years—and I’ve seen just about every kind of market cycle you can imagine.
But more than that, I see myself as a local ambassador first and a Realtor second.
I spend a lot of time studying this market, talking to buyers and sellers, and digging into the details—so you don’t have to.
If you’re curious about:
What your home might be worth right now Whether it’s a good time to buy or sell Or how these trends apply specifically to your neighborhood
I’m always happy to help.
📞 Call or Text: 757-254-8136
📧 Email: John@MrWilliamsburg.com
🌐 Website: mrwilliamsburg.com
And if you enjoy these updates, feel free to reach out—I’m always open to ideas on what you’d like to see covered next.