Hampton Roads home prices hit all-time highs again in June, with the regional median sale price reaching $375,000 — up 4.2% from a year ago and up from $368,900 just the month before, according to the Real Estate Information Network (REIN). If you're buying or selling right now, here's what that number actually means for your decision.
What's Driving the Record Prices
This is still a sellers' market. Demand continues to outpace supply across the region, and that imbalance has pushed prices higher month after month in 2025. The good news: inventory is improving. REIN data shows active listings climbed to over 5,500 in June, up 24% year-over-year from 4,380 in June 2024. Virginia Realtors' chief economist Ryan Price notes that the added inventory may slow the pace of price increases — but it's unlikely to reverse direction. If you own a home in Virginia Beach or Chesapeake and have been thinking about selling, you're sitting on record equity right now. Find out what your home is worth →
Where Buyers Can Still Find Value
The $375,000 regional median doesn't tell the whole story. Prices vary significantly by city, and two areas stand out for buyers working with tighter budgets: Hampton and Newport News. Both cities consistently come in below the regional median, making them the most accessible entry points in Hampton Roads right now — especially for first-time buyers and anyone using a VA loan.
Norfolk offers another middle-ground option, though buyers there should factor flood zone status and insurance costs into their monthly payment calculations before making an offer. Suffolk and Chesapeake still offer new construction options that can pencil out well, particularly when comparing price per square foot against resale inventory.
For military buyers on PCS orders, Hampton and Newport News are especially worth a close look — both are within easy commute range of Joint Base Langley-Eustis, and VA loan limits give qualified buyers real purchasing power without a down payment.
What Sellers Need to Know Right Now
Record prices don't mean any price. Overpriced homes are sitting longer as buyers grow more selective with more inventory to choose from. The sellers winning right now are pricing accurately at the start — not chasing the market down after a week of low showings. If you're weighing a move, the data supports listing sooner rather than later. Find out what your home is worth →
What This Means For You
• **Buyers:** The regional median is $375K, but Hampton and Newport News remain meaningfully below that — start your search there if budget is a priority.
• **VA loan buyers:** Your purchasing power is real in this market. Hampton and Newport News offer the best combination of affordability and proximity to major bases.
• **Sellers:** You're in a strong position, but accurate pricing matters more than ever as inventory rises. Overpricing is the main reason homes stall right now.
• **Investors:** Rising prices mean tighter cap rates on acquisition, but the 24% year-over-year inventory increase is worth watching — more options are coming to market.
Hampton Roads home prices hit all-time highs, but this market still has pockets of opportunity if you know where to look. Explore current listings by city at our communities page to see what's available in your price range today.
Frequently Asked Questions
What is the median home price in Hampton Roads right now?
As of June 2025, the median sale price in Hampton Roads is $375,000, according to REIN data. That's up 4.2% from June 2024 and up from $368,900 in May 2025 — a new all-time high for the region.
Which Hampton Roads city is most affordable for buyers in 2025?
Hampton and Newport News consistently come in below the regional median, making them the most affordable entry points in Hampton Roads right now. Both cities offer strong value for first-time buyers and VA loan users, particularly those with ties to Joint Base Langley-Eustis.
Will Hampton Roads home prices go down in 2025?
Most indicators point to continued price growth, though at a slower pace. Inventory is up 24% year-over-year, which may moderate price increases — but the underlying supply and demand imbalance that has driven prices to record highs hasn't reversed. Virginia Realtors' chief economist expects the market to remain competitive through the rest of 2025.