May 2026 Hampton Roads Market Update: More Listings, Steady Demand, and Prices Holding Firm
If May had a theme in Hampton Roads, it was resilience.
On the surface, year-over-year change looked modest: prices, sales, and pending activity were all up, but not dramatically. Under the hood, though, the month showed a healthy spring pattern, more choices for buyers, steady demand, and prices holding firm.
Here’s the May snapshot for the Hampton Roads resale market:
May 2026 Key Numbers (Year-over-Year)
Active listings: 5,512 (+4.47%)
Pending sales: 2,630 (+5.96%)
Settled sales: 2,485 (+1.64%)
Median sale price: $375,000 (+1.65%)
Median days on market: 18 (same as last year)
Months of supply: 2.60 (still tight)
What changed from April (and why it matters)
May wasn’t just “flat.” It also brought a noticeable month-over-month jump in closed sales:
Settled sales increased by 297 closings from April (a meaningful spring step-up).
Pending sales rose from April too, which helps keep the pipeline moving into June.
Median days on market improved slightly (down to 18).
Months of supply ticked up to 2.60, which fits the pattern of inventory building during peak season.
In plain English: the market added inventory without losing price support, and homes still moved quickly when positioned well.
Prices: holding firm, but not evenly everywhere
Regionally, the median sale price landed at $375,000, up slightly from last year and up from April.
But Hampton Roads is never one market, it’s a collection of micro-markets.
A few notable price moves:
Portsmouth posted one of the larger year-over-year median price increases ($290,000, up 5.54%).
Suffolk was the standout on the other side ($391,500, down 7.88% year-over-year).
James City County saw a strong year-over-year jump ($535,000, up 8.63%).
Smithfield/Isle of Wight softened year-over-year ($418,384, down 6.34%).
That’s your reminder that zip code and price band matter. Two neighborhoods can feel like two different markets in the same month.
Inventory: improving, but still tight
Active listings rose to 5,512, and months of supply came in at 2.60.
That combination tells a familiar story:
Buyers have more selection than they did earlier this year.
But inventory is still tight enough that strong homes can sell fast, and pricing strategy matters.
Days on market: still quick
Median days on market was 18 days, which is fast for May and essentially unchanged from last year.
That typically shows up this way:
Homes that are priced right and in good condition often move quickly.
Homes that miss the mark on price or condition tend to sit and require adjustments.
How this compares nationally (quick context)
Nationally, May looked like a spring rebound in activity, with existing-home sales rising to an annual pace of 4.17 million and the median price around $429,300. Homes also tended to take longer to sell nationally, about 29 days, than what we’re seeing locally.
What this means if you’re buying
More listings mean you can be a bit more selective especially on location, layout, and overall condition.
But with homes still moving fast in many pockets, you’ll still win more often with strong preparation (clear budget, lender plan, and decisive next steps).
What this means if you’re selling
The market is supportive, but buyers have more options so it pays to be the best value in your category.
Pricing and presentation do the heavy lifting: clean photos, strong first impression, and a price that matches today’s comps.
If you want, I can pull a quick neighborhood-level snapshot (your subdivision or a few nearby streets) to show what’s selling fast, what’s sitting, and where buyers are drawing the line right now.
