Is the Hampton Roads Market Cooling Off in 2025-2026?

by Jason Edwards

If you’ve been waiting for the Hampton Roads housing market to finally cool off, you’re not alone. I hear it from buyers, sellers, and especially military families planning their next PCS move:

“Jason… are prices finally coming down, or is this just another weird year?”

Short answer?
We’re not crashing.
We’re normalizing.

In this December 2025 update, I’ll walk you through what’s really happening across Virginia Beach, Chesapeake, Norfolk, Suffolk, Portsmouth, Hampton, and Newport News — using actual data, not national headlines.

Big Picture – What’s Happening Across Hampton Roads

Let’s start with the regional snapshot.

Across Hampton Roads, we’re seeing:

Stable prices – No 2021-style spikes, no 2008-style drop-offs.
Still-low inventory – Ranging from about 2.0 to 3.8 months, depending on the city.
Healthy days on market – Most homes are selling in 19–42 days, not in 3 days… but certainly not sitting for 6 months either.

A quick look at December 2025 median prices:

Virginia Beach: $405,000 – 19 days on market – 2.0 months of inventory
Chesapeake: $400,000 – 23 days – 2.6 months
Norfolk: $325,000 – 20 days – 2.8 months
Portsmouth: $260,000 – 28 days – 2.6 months
Suffolk: $400,000 – 42 days – 3.8 months
Hampton: $300,000 – 19 days – 2.5 months
Newport News: $276,000 – 31 days – 2.9 months

That’s not a market in freefall. That’s a market taking a breath.

For buyers, that breath feels like relief.
For homeowners, it feels like stability.
For anyone trying to time things perfectly, it can feel confusing.

City-by-City – How Each Market Really Feels

Every city in Hampton Roads has its own personality — and its own market behavior.

Virginia Beach – Still Competitive

Virginia Beach sits at a $405,000 median price with 19 days on market and just 2.0 months of inventory. That’s still very much a seller’s market, especially under $400k.

If you’re a buyer, VB is where you pay a premium for location, beach access, and certain school zones. If you’re a homeowner, properly priced homes here can still move quickly.

Chesapeake – Space, Suburbs, and Steady Demand

Chesapeake’s median is $400,000, with 23 days on market and 2.6 months of inventory. Think larger homes, quieter neighborhoods, and a strong draw for families.

This is where people go when they want more house and yard for the money than Virginia Beach, but still want Southside access.

Norfolk & Portsmouth – Value and Lifestyle

Norfolk sits at $325,000, 20 DOM, 2.8 months of inventory.
Portsmouth is at $260,000, 28 DOM, 2.6 months of inventory.

Norfolk is your walkable-urban, cultural option: Ghent, Colonial Place, ODU-adjacent neighborhoods, and quick access to Naval Station Norfolk.

Portsmouth is the most affordable Southside city, with historic charm in Olde Towne and solid value for first-time buyers and investors — with the usual reminder to research neighborhoods and crime stats independently.

Suffolk – Space, New Construction, and Longer DOM

Suffolk’s median is $400,000, but homes are taking about 42 days to sell, with 3.8 months of inventory — the highest in the region.

That doesn’t mean Suffolk is “cold.” It means:

Larger homes take longer to sell.
There’s more new construction.
Buyers here care a lot about commute and lifestyle fit.

For move-up buyers, especially those coming from Chesapeake or Virginia Beach, Suffolk can be a sweet spot: more space, newer homes, and strong long-term upside.

Hampton & Newport News – Affordability on the Peninsula

Hampton: $300,000 – 19 DOM – 2.5 months
Newport News: $276,000 – 31 DOM – 2.9 months

These markets offer hard-to-beat affordability compared to some Southside cities, driven by jobs at Langley AFB, the shipyard, and CNU. For first-time buyers or those working on the Peninsula, they’re absolutely worth a look.

Myth-Busting – Is the Market Really “Cooling Off”?

Let’s tackle a few myths I hear constantly:

Myth 1: “Prices are dropping everywhere.”
Reality: Most cities in Hampton Roads are flat to mildly up year-over-year. We are not seeing widespread price drops.

Myth 2: “Buyers have all the leverage now.”
Reality: Buyers have more leverage than in 2021, but in the under-$400k range, especially in Virginia Beach, Chesapeake, and Norfolk, homes are still moving quickly.

Myth 3: “Sellers missed their chance.”
Reality: If you bought 3–5 years ago, there’s a very good chance you’ve built solid equity. The path to a successful sale now is condition + pricing + strategy, not panic.

We aren’t in a “boom” or a “bust.” We’re in something much healthier: a normalizing Hampton Roads market.

Buyer Opportunities – Winter 2025

If you’re a buyer (especially active duty, veteran, or relocating from out of state), winter 2025 in Hampton Roads offers some real advantages:

Less competition than spring/summer
More negotiation room in places like Suffolk, Portsmouth, and Newport News
Stronger position for VA buyers – sellers are more open to VA offers again
Opportunity to lock in a home now and potentially refinance later if rates improve

If you’re PCSing in 2026, starting the conversation early means you can:

Narrow down which city makes the most sense
Decide between new construction vs resale
Work through tunnel/bridge commute realities before you arrive

For Current Homeowners – What This Market Means for You

If you already own a home in Hampton Roads, here’s the big takeaway:

This is still a good market to sell if you have a real reason to move.
You likely have more equity than you think, especially if you bought before or during the early days of the pandemic.
You just can’t rely on “throw it on the market and see what happens” pricing anymore.

Good photos, clean staging, and realistic pricing still win — especially in Virginia Beach, Chesapeake, Norfolk, and Suffolk.

Even if you’re not planning to move soon, it’s smart to know where you stand. A quick value update can help with future plans, refinancing, or that “someday” move.

Local Spotlight – A Market View from Harbour View

As a quick local spotlight: take Harbour View in North Suffolk.

You’ve got:

Master-planned communities
Golf, shops, and restaurants
Easy access to I-664, Western Branch, and parts of Portsmouth and Norfolk

It’s a great example of where buyers are trading a slightly longer commute for more space and amenities, while still staying connected to the rest of Hampton Roads.

It also illustrates why some Suffolk homes take a bit longer to sell — people are picky about which pocket of Suffolk they choose, and that’s okay.

What’s Coming Next – Looking Ahead to 2026

I don’t have a crystal ball, but based on current trends and what experts are predicting, here’s what I expect heading into 2026:

Prices in most Hampton Roads cities stay steady or trend slightly up
Inventory rises a bit in spring, but still remains below “normal”
Military relocations continue to provide baseline demand year-round
New construction in Suffolk and parts of Chesapeake continues to give buyers more options

In other words: no drama, just a market you can plan around.

What to Do Next (Buyers, Relocators & Homeowners)

If you’re:

Buying or relocating to Hampton Roads:
- Start with solid info.
- Watch the full YouTube breakdown here: “Is the Hampton Roads Market Finally Cooling Off? (Dec 2025 Update)”
- Download my free Buyer’s Guide or Hampton Roads Relocation resources to help you plan your move.
- If you want to talk through your specific situation, you can schedule a quick call with me.
Thinking about selling or just curious about your home’s value:
- Check out my SOLD Playbook for a step-by-step game plan.
- Hit reply, send me a quick text, or reach out for a no-pressure value update on your home.
- And if you know someone PCSing in or out of Hampton Roads, feel free to share this article or the video with them.