Hampton Roads: Still a Seller’s Market? Inventory Grows, But Demand Holds Strong

by Davina Hughes

One of the biggest myths floating around right now is that Hampton Roads is suddenly a buyer’s market. People see more “For Sale” signs and assume the power has flipped. But let’s not get ahead of ourselves. Yes, inventory is up 22% compared to last year, but with only 2.1 months of supply, we’re still very much in a seller’s market.

So what does that actually mean? Sellers still hold the advantage, but buyers aren’t completely powerless anymore. It’s a tug-of-war—and whoever has the best strategy wins.

1. The Numbers That Really Matter

Inventory Growth: More listings are hitting the market, which means buyers have more to choose from. That’s the good news for them.
Supply Still Low: A balanced market has about six months of inventory. Hampton Roads has barely over two months. That’s why sellers are still in control, even if their grip isn’t as tight as it used to be.
Demand Isn’t Going Anywhere: Between military transfers, steady job growth, and affordability compared to D.C., people are still moving here. That demand keeps the market competitive.

2. What Sellers Need to Know

You Still Have Leverage, But Don’t Get Sloppy: You can’t just overprice and hope for the best. Buyers are comparing, and overpriced homes are sitting.
Presentation and Marketing Count: Professional photos, videos, and staging are what get buyers through the door. In a crowded market, your home has to stand out.
Flexibility Can Seal the Deal: Covering some closing costs, offering a home warranty, or being flexible on move-out dates can make your listing more appealing.

3. What Buyers Need to Know

You Have More Wiggle Room: Inspections are back. Negotiations are back. You don’t have to give away your firstborn to get a house anymore.
Patience Is Key: With more listings, you can afford to wait for the right fit instead of rushing into the first home you see.
Strategy Still Wins: This isn’t the time to lowball just because you heard the market is “shifting.” The best deals come when you know the numbers and have an agent guiding you.

Hampton Roads is still a seller’s market, but it’s shifting into a healthier balance. Don’t assume. Don’t guess. Whether you’re buying or selling, let’s create a strategy that works for you right now.