Real Estate Market Update

Current Real Estate Market Update 2016


January 2016

Jan 2016

The start of the year shows that the median sold home price for Hampton Roads decreased from last month in all but one city.  Hampton was the only city to show an increase from end of the year.

The current month’s supply of inventory favor a buyer’s market in most cities. The numbers are as follows:

  • Virginia Beach    4.10 months
  • Norfolk                5.21 months
  • Chesapeake        4.58 months
  • Portsmouth         7.21 months
  • Suffolk                 6.40 months
  • Hampton             7.04 months
  • Newport News     5.20 months

February 2016

Feb 2016

February numbers show the median sold home price rose for Chesapeake, Norfolk, and Suffolk but decreased for the other four cities.

 The current month’s supply of inventory lean more in favor of a buyer’s market as all cities have less than 7 months of inventory on the market.  The numbers are as follows:

  • Virginia Beach     4.12 months
  • Norfolk                 5.25 months
  • Chesapeake         4.69 months
  • Portsmouth         6.98 months
  • Suffolk                  6.56 months
  • Hampton              6.89 months
  • Newport News     5.18 months


March 2016

March 2016

In March we see that the median sold home price increased from last month in all cities except Chesapeake and Suffolk.

 The current month’s supply of inventory lean more in favor of a buyer’s market as all cities have less than 7 months of inventory on the market.  The numbers are as follows:

  • Virginia Beach     4.39 months
  • Norfolk                 5.38 months
  • Chesapeake         4.68 months
  • Portsmouth         7.04 months
  • Suffolk                  6.90 months
  • Hampton              6.99 months
  • Newport News     5.25 months


Stay tuned for:

April 2016

May 2016

June 2016

July 2016

August 2016

September 2016

October 2016

November 2016

December 2016

Liz Schuyler
Liz Schuyler
Realtor