Hampton Roads just recorded its highest inventory in more than six years — 6,097 active homes as of July 2026, up 7.64% from the same time last year. That's a meaningful shift after years of historically tight supply, and it changes the calculus for both buyers and sellers across the region.
What Hampton Roads Hits Highest Inventory in 6 Years Actually Looks Like on the Ground
More listings doesn't mean a slow market. Settled sales rose 3.92% year-over-year and pending sales climbed 1.75%, which tells you demand is holding steady. The median sale price came in at $389,900 — down slightly from June's record high, but still strong. Homes averaged just 23 days on market, and supply sits at 2.85 months. For context, a balanced market is typically 4–6 months. We're still leaning toward sellers, just not as sharply as before.
New construction added 258 closed sales, up from 209 a year ago, giving buyers in Virginia Beach and across Hampton Roads more options at different price points and timelines.
What This Means for Buyers
If you've been sitting on the sidelines waiting for more options, July's numbers are your signal to look again. With 6,097 active listings on the market — the most in six years — you have real selection across price ranges, neighborhoods, and property types. You're less likely to find yourself in a bidding war on every home, and you have more room to negotiate on inspection findings, closing costs, or timing. That said, 23 days on market means well-priced homes still move. The window is wider, not indefinite.
Explore current listings and neighborhood data on our Virginia Beach community page to get a feel for what's available in specific areas.
What This Means for Sellers
The market is still working in your favor — prices are up year-over-year and buyers are active. But with Hampton Roads hitting its highest inventory in six years, your home is competing in a deeper field than it was 12 months ago. Pricing accurately from day one matters more now. Homes that are overpriced relative to the market will sit, and sitting creates doubt. If you're thinking about listing, understanding exactly where your home lands in today's market is the right starting point. Find out what your home is worth →
What This Means For You
• Buyers have the most selection since early 2020 — use it strategically, not impulsively
• Demand remains steady, so don't expect steep price drops; focus on negotiating terms
• Sellers need a sharper pricing strategy in a deeper inventory environment Find out what your home is worth →
• New construction is active — worth comparing to resale if your timeline is flexible
Hampton Roads real estate hasn't flipped into a buyer's market, but it's moved meaningfully toward balance. That's actually a healthier place for the region long-term. If you want to talk through what these numbers mean for your specific situation, I'm always available.
Frequently Asked Questions
Is Hampton Roads still a seller's market with 6,097 active listings?
Yes, but less intensely than before. At 2.85 months of supply, Hampton Roads is still below the 4–6 month threshold that defines a balanced market. Sellers retain an advantage, but buyers have more negotiating room than they've had in years.
Should buyers in Virginia Beach make a move now or wait for prices to drop?
Prices aren't dropping — the July 2026 median held at $389,900 with year-over-year growth intact. What buyers gain right now is selection and negotiating leverage on terms, not necessarily lower prices. Waiting for a price correction that data doesn't currently support could mean fewer choices down the road.
How should sellers price their home given the increase in inventory?
With more competition on the market, accurate pricing from day one is critical. Homes priced at or just below current market value are still selling in roughly 23 days. Homes priced above market are sitting longer, which can hurt your negotiating position. A current comparative market analysis is the best starting point before you list.