Buyers See Expanded Opportunities in July

VIRGINIA BEACH, Va. – With the first seven months of 2026 in the books, the Hampton Roads’ housing market continues to show year-over-year improvements in most categories. Overall, to-date, 2026 reflects a market with more supply, modest sales increases, and continued price growth – albeit moderate. 

“The summer real estate market in our region has continued to show improvements compared to last year,” said John Chandler of Berkshire Hathaway HomeServices RW Towne Property Management and the President of REIN's Board of Directors for 2026. “Demand remains consistent and buyers continue to see more selection each month.”

Chandler said that with 6,097 homes on the market across the entire Hampton Roads region during July, it’s the first time since May 2020 (6,348) that home shoppers have had more than 6,000 homes to choose from.

On the Southside, Virginia Beach had the most active listings with 1,205. However, with a Month’s Supply of Inventory (MSI) of just 2.38, the city remains a seller’s market. With 573 active listings and an MSI of 3.75, buyers in Suffolk have more leverage.

On the Peninsula, Newport News had the most homes for sale during the month, with 471 listings and an MSI of 2.75. York County, with 189 active listings and an MSI of 2.40, had the tightest selection for perspective homebuyers on the Peninsula.

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.

July data points from REIN:

• Active residential listings for July totaled 6,097, up from 5,752 last month and up 7.64% from 5,664 last year.
• Pending sales for the month stood at 2,381. That’s down from 2,699 last month but up 1.75% from 2,340 last year.
• Settled sales totaled 2,627, down slightly from 2,721 last month, but up 3.92% from 2,528 in July 2025.
• Median sale price (MSP) of homes sold during July was $389,900. That’s down from a record high of $395,000 in June, but up from $368,250 in July 2025.
• Month’s Supply of Inventory (MSI) for July was 2.85 compared to 2.70 in June and 2.74 in July 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 23, compared to 19 in June and 22 days during the same month last year.
• Residential new construction sold via the MLS during the month was 258, compared to 245 in June and 209 in July 2025. This represents only new homes sold via REIN MLS.