📊 June 2025 Roundup: Hampton Roads Real Estate Update

With mid‑summer upon us, the Hampton Roads housing market continues to evolve—and understanding these trends can help you make smart moves, whether you're buying or selling.

📈 Key Market Metrics

• Median Sales Price: In May, homes sold for a median of $368,900, up from $350,000 in April—a 4.7% increase year-over-year virginia1strealty.comrealtor.com+5virginiabusiness.com+5datainsightsmarket.com+5.

• Active Listings: Inventory rose to 5,276 homes, a 23.7% increase compared to last May—the highest level since summer 2020 virginiabusiness.com.

• Speed to Sale: Homes stayed on the market around 18 days in May, one day faster than April but three days slower than May 2024 realtor.com+5virginiabusiness.com+5rocket.com+5.

🏡 What This Means for You

Homebuyers:

• You have more choices—and a little more time to plan—but desirable homes are still going quickly.

• Being pre-approved, sharp on your needs, and ready to act will set you apart.

Home Sellers:

• It's a strong seller’s market—with high prices and active buyers.

• Keeping your home show-ready and priced right continues to drive top offers.

🧭 Why It Matters

• For Buyers: More listings mean options, but momentum remains—speed and strategy win.

• For Sellers: You’re in the driver’s seat—but a well-marketed listing stands out even more.

• For Everybody: Local insight matters. Every neighborhood—from Smithfield to Chesapeake—has its own story. That's why working with Virginia 1st Realty Group makes all the difference.

📍Ready to take action? Stop by our office at 915 S Church St in Smithfield or call 757‑371‑7011. Whether buying or selling, our local team has the knowledge and strategy to help you succeed this summer.