August Takeaway: More Choices. Steady Supply. Stronger Prices.

VIRGINIA BEACH, Va. – The Hampton Roads housing market entered August with more options for buyers and continued price growth for sellers. While activity slowed from July—a common late-summer pattern—data from the Real Estate Information Network (REIN) shows that several key indicators remained stronger than they were a year ago. 

“Year-over-year, buyers had more homes to choose from,” said John Chandler of Berkshire Hathaway HomeServices RW Towne Property Management and the President of REIN’s Board of Directors for 2026. “Likewise, the median number of days that homes were on the market before they sold were also up when compared to July, meaning buyers were able to take a little more time to consider their options.”  

Chandler said that while buyers took advantage of more options and more time, the year over-year price appreciation shows that home sellers also benefited in August’s market.

While pending sales in August dropped slightly from July, they were 10.46% higher than last August, an encouraging comparison since pending activity declined much more sharply, nearly 10%, during the same period last year.

The Sweet Spot
Homes priced from $300,000 to $399,999 remained the most active segment, accounting for approximately 27% of all settled sales, or more than one in every four closings. 

REIN is the multiple listing service in Hampton Roads and the leading provider of real estate data for the region, with offices in Virginia Beach, Hampton, and Portsmouth. 

August data points from REIN:  

• Active residential listings for August totaled 6,120, up from 6,097 in July and up year-over-year 7.2% from 5,709 last August.
• Pending sales for the month stood at 2,323. That’s down from 2,381 the month prior but up 10.46% from 2,103 last August. 
• Settled sales totaled 2,204, down from 2,627 last month, and down 1.69% from 2,242 in August 2025.
• Median sales price (MSP) of homes sold during August was $388,950. That’s down from $389,900 in July, but up from $370,000 year-over-year.
• Month’s Supply of Inventory (MSI) for August was 2.86 compared to 2.85 in July and 2.77 in August 2025. MSI is a calculation of how many months there would be homes on the market if no new inventory was added.
• Median days on market (DOM) for the month was 27, compared to 23 in July and 29 days during the same month last year.
• Residential new construction sold via the MLS during the month was 173, compared to 258 in July and 201 in August 2025. This represents only new homes sold via REIN MLS.