Median Selling Prices Remain Healthy for the Region

VIRGINIA BEACH, Va. – January’s median sales price (MSP) for the region was down slightly from December, but up year-over-year, according to data from the Real Estate Information Network (REIN). REIN is the multiple listing service for Hampton Roads.

While settled sales for January were down from the month prior, they were up year-over-year. Pending sales were also up from the month prior, and up significantly from January 2025.

"Pending sales are typically seen as a key indicator for the market and can help predict future sales, so it’s good to see those numbers so strong," said John Chandler of Berkshire Hathaway HomeServices RW Towne Property Management and the President of REIN's Board of Directors for 2026. "Likewise, while January’s median selling price was down when compared to December, it was up year-over-year and remains healthy and resilient."

Chandler said that of the seven major cities in the region, only Suffolk saw a year-over-year decline in the median sales price, with a drop of just 1.95%. On the Southside, Portsmouth saw a year-over-year MSP jump of 17.3%, while in Chesapeake the MSP rose 10.2%.

For the Peninsula markets, both Hampton (5.27%) and Newport News (0.95%) recorded increases in their MSP.

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.

January data points from REIN:

• Active residential listings for January totaled 4,528, down very slightly from 4,530 in December but up 3.71% from 4,366 in January 2025.
• Pending sales for the month stood at 1,919 compared to 1,839 in December. However, they were up 15.12% year-over-year from 1,667 in January 2025.
• Settled sales totaled 1,576. That’s down from 2,142 in December but up 13.14% from 1,393 in January 2025.
• Median sale price (MSP) of homes sold during the month was $355,170. That’s down compared to $360,000 in December, but up 4.46% compared to $340,000 in January 2025.
• Month’s Supply of Inventory (MSI) for January was 2.16. It was 2.17 in December and 2.12 in January 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 41. It was 35 in December and 27 in January 2025.
• Residential new construction sold via the MLS during the month was 213. It was 288 in December and 170 in January 2025. This represents only new homes sold via REIN MLS.