š” May 2025 Market Update: Navigating the Hampton Roads Real Estate Landscape
As we move further into spring, the Hampton Roads real estate market continues to exhibit dynamic trends. According to Virginia REALTORSĀ®, the year-to-date median home price in Virginia has increased by $12,650, reaching $343,600 so far in 2025. 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 1st Realty Group
Competitive Market: Homes are selling quickly, with many properties receiving multiple offers shortly after listing. Virginia 1st Realty Group
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're committed to guiding you through every step of the real estate process. Whether you're looking to buy or sell, our experienced team is here to help you navigate the market with confidence.
š Visit us at 915 S Church St in Smithfield or call 757-371-7011 to schedule a consultation. Let's work together to achieve your real estate goals!
