August 2025 Real Estate Market Update

Southside | Peninsula | Greater Williamsburg

The August 2025 housing numbers are in, and the market across Southside, Peninsula, and Greater Williamsburg is showing signs of balance as summer comes to a close. Whether you’re buying or selling, here’s what the data tells us about where things stand.

Key Market Stats for August 2025

• Closed Sales: 1,816 homes sold

  • ↓ 10.2% from July 2025

  • ↓ 13.2% compared to August 2024

• Median Sales Price: $369,000

  • ↑ 0.3% month-to-month

  • ↑ 5.4% year-over-year

• Active Inventory: 4,993 homes

  • ↓ 0.5% from July

  • ↑ 14.3% compared to last year

• New Listings: 2,739

  • ↓ 18.7% from July

  • ↑ 15.1% compared to August 2024

• Median Price per SqFt: $211

  • ↓ 2.1% month-to-month

  • ↑ 2.7% year-over-year

• Median Days on Market: 20 days

  • ↑ 11.1% from July

  • ↑ 32.6% from last year

• List Price Received: 99.6% of asking price

  • → no change month-to-month

  • ↓ 0.3% compared to August 2024

• Months of Supply: 2.7 months

  • ↑ 22.4% month-to-month

  • ↑ 32.6% year-over-year

What This Means for Buyers

The late-summer market is giving buyers more breathing room:

• More options: Active inventory is up compared to last year.

• More time: Homes are staying on the market longer, creating opportunities to negotiate.

• Stable pricing: Median home prices are holding steady, but softening price-per-square-foot trends suggest room for deals.

If you’ve been waiting for a chance to shop without the frenzy of spring, this is your moment.

What This Means for Sellers

Sellers are still in a strong position, but the dynamics are shifting:

• Prices are 5.4% higher than last year, a win for equity.

• Homes are taking longer to sell, so strategic pricing is critical.

• With buyers gaining leverage, presentation and marketing matter more than ever.

The right strategy can still help you sell quickly and close near list price, but flexibility will be key moving into fall.

Regional Takeaway

Across Southside, Peninsula, and Greater Williamsburg, we’re seeing:

• Fewer closed sales compared to last year

• Inventory building steadily

• Prices holding firm despite more negotiating power for buyers

This all points toward a market that is balancing out, creating opportunities for both sides depending on timing and strategy.

Final Thoughts

The August 2025 housing market shows us a transition period: demand is cooling, supply is climbing, and pricing power is shifting little by little. Buyers can enter with more confidence, while sellers should adjust expectations and lean on smart strategies.

✨ Whether you’re planning to buy or sell in Hampton Roads, staying on top of these trends helps you make informed decisions.