Monday's Monthly Market Update | A Look at May

More Inventory. More Opportunity. A Stronger Market for Everyone.

If you've been watching the housing market from the sidelines, May's numbers tell an encouraging story.

The biggest headline this month is inventory. With over 4,000 active homes available across Hampton Roads, buyers have more choices than we've seen in quite some time. More inventory means less pressure, more opportunities to compare homes, and a better chance of finding a property that truly fits your needs.

At the same time, homes are still selling. New contracts increased by 11%, and sold homes rose nearly 4% compared to April. This tells us that buyers are still actively making moves when the right home comes along.

For sellers, this isn't a market to fear—it's a market to prepare for. While buyers have more options, well-presented and properly priced homes are continuing to attract attention and generate offers. The median sales price also increased to $365,000, showing that home values remain strong across our region.

Perhaps most surprising is that the average days on market held steady at just 14 days. Despite more competition, desirable homes are still moving quickly.

What does all of this mean?

It means we're moving toward a healthier, more balanced market. Buyers have breathing room. Sellers still have opportunity. And both sides can make decisions with more confidence and less urgency than we've experienced over the past several years.

Let’s Talk About Your Next Move

Whether you're thinking about buying, selling, investing, or simply curious about what's happening in your neighborhood, understanding your local market is more important than ever.

I'd be happy to provide a personalized market analysis for your specific area and help you understand what these trends mean for your goals.