Is Hampton, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hampton is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Hampton was a Buyer's Market.

Key Takeaway

Hampton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hampton, VA

How much do homes in Hampton, VA cost?

Median Sold Price

$306,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$34,500(+12.7%)

Key Takeaway

Homes in Hampton have sold for 12.7% more than they did a year ago.

Summary: The median home sold price in Hampton was $306,000 in May 2024, up 12.7% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $194.2K$215K
+10.7%
3 $232K$300.5K
+29.5%
4 $330K$405K
+22.7%
5+ $306K$475K
+55.2%

Summary: Hampton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 29.5%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 55.2%.

Housing Supply in Hampton, VA

How many homes are available in Hampton, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
695795+14.4%

Summary: The Hampton real estate market had 795 homes for sale in May 2024, a 14.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1312
-7.7%
2 91107
+17.6%
3 330370
+12.1%
4 209238
+13.9%
5+ 5268
+30.8%

Summary: The Hampton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 30.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
159161+1.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hampton, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 161 homes were sold or pending in Hampton in May 2024, up by 1.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.

Days on Market for Hampton, VA

How long does it take to sell a home in Hampton, VA?

Average Sale Time

May 2023May 2024CHANGE
8 Days33 Days+315.7%

Summary: Homes in Hampton had an average of 33 days on market in May 2024, up by 315.7% compared to last year.

Breakdown of Home Sale Times

105 Homes Were Sold
Under 30 Days

42 Homes Were Sold
In 30 - 90 Days

14 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hampton are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 161 homes were sold in Hampton; 65% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Hampton, VA

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What housing markets are near Hampton, VA?