š May 2025 Market Snapshot: Hampton Roads Real Estate Trends
As we approach the summer months, the Hampton Roads real estate market continues to show robust activity. The year-to-date median home price in the region has risen to $345,000, marking a 4.6% increase compared to the same period last year. Virginia REALTORSĀ®
Key Market Highlights:
Rising Home Prices: The steady increase in home values reflects strong buyer demand, driven by factors such as military employment, port activity, and the area's coastal appeal. Virginia REALTORSĀ®
Competitive Market: Homes are selling quickly, with many properties receiving multiple offers shortly after listing.
Limited Inventory: The number of homes for sale remains low, creating a seller's market and leading to competitive bidding scenarios.
At Virginia 1st Realty Group, we understand the nuances of the Hampton Roads market. Whether you're looking to buy or sell, our experienced team is here to guide you through every step of the process.
š Visit us at 915 S Church St in Smithfield or call 757-371-7011 to schedule a consultation. Let's navigate the market together and achieve your real estate goals!
