Hampton Roads Housing Market Update: October 2025

As the Hampton Roads real estate market moves deeper into fall, November’s numbers reflect what many would expect for this time of year, a seasonal slowdown paired with strong year-over-year performance. According to the latest data from the Real Estate Information Network (REIN), buyers continue to benefit from increased inventory, while home prices remain steady across much of the region.

Inventory Still Higher Than Last Year

Active residential listings totaled 5,179 homes in November. While that’s down from October’s peak, inventory remains 13.5% higher than November 2024, giving buyers more choices than they had a year ago. This additional supply has helped ease some of the pressure that defined the market in recent years.

Prices Continue to Climb

The median sale price rose to $367,000, up nearly 5% year-over-year and higher than October’s figure. While price growth has moderated compared to past years, values remain strong, a sign that demand continues to support the market.

Buyer Activity Holding Steady

Pending sales reached 1,849, a 9.2% increase compared to last November, showing that buyers are still active despite the approaching holidays. Settled sales dipped to 1,774, down from October and slightly lower than last year, reflecting normal seasonal timing and longer transaction cycles.

Market Pace and New Construction

Homes spent a median of 31 days on the market, up modestly from earlier months. The months’ supply of inventory sits at 2.51, higher than last year but still below levels considered fully balanced. New construction sales slowed to 185, consistent with builder adjustments heading into winter.

November’s data points to a market that is slowing seasonally but remaining stable overall. Buyers continue to enjoy more options, sellers are seeing solid prices, and the region is moving closer to a balanced environment. As we approach the end of the year, preparation and local insight remain key for anyone planning a move.