Inventory Is Back, But Not Enough: What the 14% Rise Since January Means for Buyers & Sellers

Inventory Is Back, But Not Enough: What the 14% Rise Since January Means for Buyers & Sellers

Let’s get into it. There’s been a lot of chatter lately about the market “cooling” or “finally shifting.” And yes—there’s some truth to that. In Hampton Roads, we’ve seen a 14% jump in active listings since January, and year-over-year, prices are up almost 5%. So yeah, more homes are hitting the market.

But don’t get it twisted—this is not a buyer’s market. Not yet. Inventory is still tight compared to the pre-2020 market, and serious buyers are out here moving fast. So while things may look more balanced on paper, it’s still a game of strategy.

Let me break down what this really means for both buyers and sellers in the Seven Cities.

🔍 What That 14% Inventory Increase Really Means

The latest REIN data shows a 14% increase in active listings since January across Hampton Roads. That’s progress. It gives buyers more breathing room and more homes to choose from.

But let’s be honest—we’re still nowhere near pre-pandemic inventory levels. We’ve got more homes than we had in 2022 or 2023, but we’re not even close to the market conditions we saw in 2019. This is still a competitive space.

And even with that added inventory, the median sale price across Hampton Roads hit $368,900 in May, up 4.7% year-over-year. So we’re not seeing price drops—we’re seeing steady growth and multiple-offer situations on homes that are priced right.

💡 For Buyers: Here’s Your Move

Let me talk to my buyers for a second. I get the hesitation. You’re watching the headlines and wondering if it’s safer to just wait it out. But here’s the real talk:

📌 Prices are still going up. Slowly, but they’re climbing.

📌 Inventory is rising, but the best homes are still going fast.

📌 Interest rates? Still fluctuating—and they impact your payment way more than price.

If you’re serious about buying:

• Get pre-approved (don’t be scared—just see where you stand).

• Be ready to move quickly once the right property hits.

• Look beyond cosmetic issues and focus on equity potential.

This isn’t about finding the dream home. It’s about finding the right deal that gets you in the game and building wealth.

💼 For Sellers: This Is Still Your Market

To my sellers: this is still your moment—if you play it right. The rise in inventory doesn’t mean you’ve lost leverage. It just means buyers have more to consider. So you’ve got to show up strong.

Here’s what that looks like:

• Strategic pricing. The market is smart. Overpricing will sit.

• Simple updates. Small fixes + staging = better offers.

• Market timing. There’s a rhythm to when you list. I’ll guide you through it.

If you’re selling and buying at the same time, don’t panic. That’s one of my favorite puzzles to solve.

Look, I’m not here to pressure you into anything. I’m here to educate you, strategize with you, and help you move smart—not scared. Whether you’re a buyer, seller, or juggling both, I’ll give you the honest truth, the real numbers, and the options that make the most sense.

Because when you’re ready, I’ll be ready!