While the real estate market in Hampton Roads remained mostly flat for the month of May when compared to the same month last year, settled sales increased month-over-month by 297 closings, or 13.6%, when comparing May to April.
For the month, settled sales and the median selling price (MSP) increased by less than 2% year-over-year, while pending sales were up 5.9% and active listings were up by 4.5%.
“Locally we’re seeing year-over-year resilience, especially in selling prices,” said John Chandler of Berkshire Hathaway HomeServices RW Towne Property Management and the President of REIN’s Board of Directors for 2026. “Even though buyers had more choices, the additional inventory didn’t negatively impact selling prices, nor did the interest rates.”…