Hampton Roads Real Estate Blog

Market reports, buying & selling guides, and community insights — from the Legacy Home Search team.

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27 posts in Market Update · page 1 of 2
Hampton Roads Market Is 'Improving' — But Here's Why Buyers Still Feel Squeezed
Market Update

Hampton Roads Market Is 'Improving' — But Here's Why Buyers Still Feel Squeezed

Active listings are up 5%, pending sales jumped 12%, and the headlines say the Hampton Roads market is improving. But if you're out shopping for a home right now, it probably doesn't feel that way — and there's a real reason for that disconnect. Here's what the numbers actually mean on the ground.

June 3, 2026
Are Housing Costs Holding Hampton Roads Back? What the Data Says
Market Update

Are Housing Costs Holding Hampton Roads Back? What the Data Says

ODU researchers and local Reddit threads are asking the same question: are rising housing costs limiting Hampton Roads' economic potential? After 20+ years watching this market, here's my honest read on the data — and what it means for buyers, homeowners, and the region's future.

June 1, 2026
Detached vs. Attached Homes in Hampton Roads: Two Totally Different Markets in 2026
Market Update

Detached vs. Attached Homes in Hampton Roads: Two Totally Different Markets in 2026

Single-family detached homes are moving fast across Hampton Roads in 2026, while condos and townhomes are sitting longer and shifting toward buyers. If you're buying or selling an attached home right now, you're operating under completely different rules than your neighbor down the street with a detached house — and your strategy needs to reflect that.

May 27, 2026
How Military Spending Drives the Hampton Roads Economy — And Why It Matters for Your Home's Value
Market Update

How Military Spending Drives the Hampton Roads Economy — And Why It Matters for Your Home's Value

Hampton Roads has one of the largest concentrations of military and defense activity in the world — and that economic foundation has a direct, measurable effect on local home values. Here's what homeowners, buyers, and investors need to understand about the connection between DoD spending and the housing market.

May 20, 2026
New Construction in Hampton Roads Now Averages $527K — Here's What's Driving the Affordability Squeeze
Market Update

New Construction in Hampton Roads Now Averages $527K — Here's What's Driving the Affordability Squeeze

New construction in Hampton Roads hit an average of $527,543 in 2025 — up nearly 11% while sales volume dropped 28%. Here's what's behind the numbers and what it means if you're weighing a new build against resale.

May 16, 2026
Virginia Beach Home Prices Up 15.6% Year-Over-Year — What's Driving the Surge?
Market Update

Virginia Beach Home Prices Up 15.6% Year-Over-Year — What's Driving the Surge?

The median list price in Virginia Beach just hit $479,900 — a 15.6% jump from last year — while national prices are actually falling. Here's what's behind the surge and what it means if you're buying, selling, or just watching your equity grow.

May 14, 2026
Affordability Is the 'Monster' in Hampton Roads Real Estate — Here's What the Numbers Show
Market Update

Affordability Is the 'Monster' in Hampton Roads Real Estate — Here's What the Numbers Show

New construction in Hampton Roads now averages $527,543 — up 10.9% — while sales volume dropped 28%. Here's what those numbers actually mean if you're trying to buy a home you can afford in this market.

May 9, 2026
Newport News Housing Market Outlook 2026: What Buyers and Sellers Need to Know
Market Update

Newport News Housing Market Outlook 2026: What Buyers and Sellers Need to Know

The Newport News housing market remains competitive heading into 2026, with steady price appreciation, tight inventory, and strong local employment anchors keeping demand elevated. Whether you're buying or selling in Newport News, the conditions this year reward preparation. Here's what the data shows and what it means for you.

May 7, 2026
Chesapeake Housing Market Outlook 2026: What Buyers and Sellers Need to Know
Market Update

Chesapeake Housing Market Outlook 2026: What Buyers and Sellers Need to Know

Chesapeake remains one of the most competitive submarkets in Hampton Roads heading into 2026. Median prices are holding firm, inventory is still tight, and local employment anchors continue to support demand. Here's what the data actually means for you.

May 7, 2026
Hampton Housing Market Outlook 2026: What Buyers and Sellers Need to Know
Market Update

Hampton Housing Market Outlook 2026: What Buyers and Sellers Need to Know

Hampton's housing market is holding steady heading into 2026, with moderate price growth, tight inventory, and strong military-driven demand keeping conditions competitive. Here's what the numbers actually look like — and what they mean if you're buying or selling in Hampton this year.

May 5, 2026
Suffolk Housing Market Outlook 2026: What Buyers and Sellers Need to Know
Market Update

Suffolk Housing Market Outlook 2026: What Buyers and Sellers Need to Know

Suffolk has quietly become one of the most watched real estate markets in Hampton Roads. Here's where prices, inventory, and buyer demand are headed in 2026 — and what it means if you're about to make a move.

May 4, 2026
Norfolk Housing Market Outlook 2026: What Buyers and Sellers Need to Know
Market Update

Norfolk Housing Market Outlook 2026: What Buyers and Sellers Need to Know

Norfolk's housing market is shaped by forces most cities don't have — naval installations, a port economy, and steady government employment. Here's what the data says heading into 2026 and what it means if you're buying or selling in the city.

May 4, 2026
Hampton Home Values Dipped Slightly — Should Homeowners Be Worried?
Market Update

Hampton Home Values Dipped Slightly — Should Homeowners Be Worried?

Hampton's average home value slipped 0.3% over the past year while neighboring cities in Hampton Roads saw gains. Here's what that actually means if you own a home in Hampton — and why buyers might want to pay close attention right now.

May 3, 2026
Virginia Beach Property Values Are Up 8% — What It Means for Homeowners Right Now
Market Update

Virginia Beach Property Values Are Up 8% — What It Means for Homeowners Right Now

Virginia Beach median home prices hit $385,000 in Q1 2026, an 8.2% jump from a year ago. If you own a home here, you're sitting on more equity than you probably realize — and knowing what to do with it matters. Here's what the latest data actually means for homeowners, sellers, and investors in Hampton Roads.

April 25, 2026
Virginia Beach Property Values Are Rising Again — Here's What That Means for Your Wallet
Market Update

Virginia Beach Property Values Are Rising Again — Here's What That Means for Your Wallet

Virginia Beach property assessments are climbing for another year, and whether you own, rent, or are planning to buy, it affects you. Here's a straightforward breakdown of what rising assessments mean for homeowners, buyers, and investors across Hampton Roads.

April 20, 2026
Suffolk Home Prices Dip 4.4%: Correction or Buying Opportunity?
Market Update

Suffolk Home Prices Dip 4.4%: Correction or Buying Opportunity?

Suffolk home prices dropped 4.4% year-over-year in March 2026, with a median sale price of $393K. For buyers and investors watching Hampton Roads, this shift is worth paying attention to. Here's what the data means and how to think about it strategically.

April 19, 2026
Virginia Beach Property Values Are Rising Again — Here's What That Means for Your Wallet
Market Update

Virginia Beach Property Values Are Rising Again — Here's What That Means for Your Wallet

Virginia Beach property assessments are climbing for another year, and the ripple effects touch every homeowner, buyer, and investor in Hampton Roads. Understanding what's driving these increases — and how to respond — can make a real difference in your financial decisions this year.

April 19, 2026
What Are Hampton Roads Home Values Doing in 2026?
Market Update

What Are Hampton Roads Home Values Doing in 2026?

Hampton Roads home values rose 4.17% in 2025 — more than double the national average. Here's what's driving the market and what to expect in 2026.

April 18, 2026AI
Virginia Beach Home Prices Up 6.3%: What March 2026 Data Means for Hampton Roads Buyers and Sellers
Market Update

Virginia Beach Home Prices Up 6.3%: What March 2026 Data Means for Hampton Roads Buyers and Sellers

Virginia Beach home prices jumped 6.3% year-over-year in March 2026, pushing the median sale price to around $340,000. Homes are moving fast, often going pending in under 30 days. Here's what that means if you're buying, selling, or investing in Hampton Roads right now.

April 18, 2026
Virginia Beach Home Values Are Rising Again: What a 6.5% Increase Means for You
Market Update

Virginia Beach Home Values Are Rising Again: What a 6.5% Increase Means for You

Virginia Beach property values are projected to increase by 6.5% in 2026, continuing a trend of steady appreciation across Hampton Roads. Whether you own a home, are thinking about buying, or are considering an investment property, this shift affects your financial picture in real ways. Here's what you need to know.

April 16, 2026
Virginia Beach Home Values Are Rising Again in 2026 — Here's What That Means for Your Wallet
Market Update

Virginia Beach Home Values Are Rising Again in 2026 — Here's What That Means for Your Wallet

Virginia Beach property assessments are climbing more than 5% for most homeowners heading into fiscal year 2027. Whether you own a home, are planning to sell, or are looking to buy in Hampton Roads, this trend has real financial implications you need to understand.

March 29, 2026
112 New Construction Communities Are Reshaping the Hampton Roads Market — Here's What You Need to Know
Market Update

112 New Construction Communities Are Reshaping the Hampton Roads Market — Here's What You Need to Know

Over 112 new construction communities are now listed across Chesapeake and Virginia Beach, with prices ranging from the $400s to over $1 million. Whether you're buying, selling, or investing in Hampton Roads, this surge in new housing supply has real implications for your next move.

March 24, 2026
Hampton Roads Lost Nearly 12,000 Jobs in 2025 — Here's What That Means for Your Home
Market Update

Hampton Roads Lost Nearly 12,000 Jobs in 2025 — Here's What That Means for Your Home

The 2026 Hampton Roads economic outlook points to real headwinds, including the loss of nearly 12,000 civilian jobs in 2025. If you're buying, selling, or investing in Virginia Beach, Chesapeake, Norfolk, or the surrounding region, understanding this shift can help you make smarter decisions in the months ahead.

March 24, 2026
Hampton Roads Added 14,000 Jobs in 2024 — Here's What 2025 Economic Uncertainty Means for Your Home
Market Update

Hampton Roads Added 14,000 Jobs in 2024 — Here's What 2025 Economic Uncertainty Means for Your Home

Hampton Roads had a strong year for job growth in 2024, but new tariffs and federal spending cuts are creating a more cautious outlook for 2025. If you're buying, selling, or investing in Virginia Beach, Chesapeake, Norfolk, or the surrounding area, here's what you need to know before making your next move.

March 24, 2026
6,300 Federal Jobs Gone: What It Means for Hampton Roads Real Estate in 2025
Market Update

6,300 Federal Jobs Gone: What It Means for Hampton Roads Real Estate in 2025

Hampton Roads is facing the loss of roughly 6,300 federal civilian jobs in 2025, and that shift is already creating ripple effects across the regional economy. For buyers, sellers, and investors, understanding what this means for local housing demand could be the difference between a smart move and a costly one. Here's what you need to know.

March 24, 2026