Hampton Roads Buyers Saw More Opportunities in July 2026
By John Womeldorf, Mr. Williamsburg — Every Home Has a Story
The Hampton Roads housing market continued to improve during July, particularly for buyers who have been waiting for more homes to become available.
According to the latest market summary from Real Estate Information Network (REIN), 6,097 homes were actively listed across Hampton Roads in July. That was the first time since May 2020 that regional inventory exceeded 6,000 homes.
Understanding the Market Reports I Share
I regularly post housing statistics covering the broader region from Richmond to Virginia Beach. Because this is such a large area, the data comes from three separate Multiple Listing Services and Realtor associations that compile statistics for their respective markets.
This particular report comes from REIN, which covers Hampton Roads. You will also see reports using data from the Williamsburg MLS and the Central Virginia Regional MLS, which covers the greater Richmond area.
Looking at all three reports provides a much clearer picture of what is happening across the different communities I serve. Real estate conditions can vary considerably between Richmond, Williamsburg, the Peninsula and the Southside.
July 2026 Hampton Roads Market Summary
Here is how July 2026 compared with July 2025:
- Active listings increased 7.64%, from 5,664 to 6,097.
- Pending sales increased 1.75%, from 2,340 to 2,381.
- Settled sales increased 3.92%, from 2,528 to 2,627.
- New-construction sales increased 23.44%, from 209 to 258.
- The median sales price increased 5.88%, from $368,250 to $389,900.
The July median sales price was down slightly from the record $395,000 reached in June, but it remained more than $21,000 higher than it was one year ago.
The region’s month’s supply of inventory increased to 2.85 months, compared with 2.70 months in June and 2.74 months in July 2025.
The median number of days on the market was 23, compared with 19 days in June and 22 days in July 2025.
What Is Happening on the Peninsula?
Newport News had the largest selection of homes for sale on the Peninsula during July, with 471 active listings and a 2.75-month supply of inventory.
York County remained the tightest Peninsula market, with only 189 active listings and a 2.40-month supply. Buyers searching in York County should still be prepared to act quickly when an attractive and properly priced home becomes available.
Conditions Across the Southside
Virginia Beach had the largest number of active listings on the Southside, with 1,205 homes for sale. However, its 2.38-month supply of inventory means Virginia Beach continues to favor sellers.
Suffolk offered buyers comparatively more negotiating leverage, with 573 active listings and a 3.75-month supply.
What This Means for Buyers
The increase in available homes is encouraging. Buyers have more properties to compare and may face less competition than they did during the most intense years of the market.
Homes that have been listed for several weeks may offer opportunities to negotiate on price, closing costs, repairs or other terms. However, updated homes in desirable neighborhoods that are priced correctly can still sell quickly.
More inventory does not necessarily mean lower prices. The median price was still up 5.88% year over year, showing that buyer demand remains steady.
What This Means for Sellers
Buyers now have more alternatives, so pricing, preparation and presentation are increasingly important.
A home that is priced too aggressively or needs significant cosmetic work may sit longer as buyers compare it with competing properties. Sellers should carefully consider recent neighborhood sales, competing listings and the home’s overall condition before establishing an asking price.
Professional photography, appropriate staging and a strong marketing plan can make a meaningful difference as inventory grows.
A Market Gradually Moving Toward Balance
The July figures reflect a market that is slowly becoming more favorable to buyers without experiencing a major decline in demand or home values.
Inventory, pending sales and settled sales all increased compared with last year. New-construction sales were especially strong, rising more than 23%. At the same time, the median sales price continued to appreciate at a moderate pace.
For buyers, this means more opportunities. For sellers, it means that simply putting a home on the market is no longer enough. Pricing and presentation matter.
Market statistics were provided by Real Estate Information Network (REIN), the regional Multiple Listing Service serving Hampton Roads since 1969. Its coverage extends from Williamsburg east to Virginia Beach and south across the North Carolina border.
About the Author
John Womeldorf, better known as Mr. Williamsburg, has been a full-time Realtor for 25 years. A longtime Williamsburg resident, John writes about real estate, neighborhoods, development and community issues throughout the region—from Richmond to Virginia Beach—to help buyers and sellers understand what is happening beyond the headlines.
Whether you are buying, selling or simply trying to understand your home’s current value, John is happy to offer straightforward advice informed by decades of local real estate experience.
John Womeldorf — Mr. Williamsburg
Liz Moore & Associates
Phone: (757) 254-8136
Email: john@mrwilliamsburg.com
Website: MrWilliamsburg.com
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