February 2025 Real Estate Market Update: What It Means for Buyers & Sellers
The Hampton Roads real estate market continues to shift—and if you're buying or selling in 2025, February’s numbers reveal some key trends you need to know. Whether you’re eyeing your first home or thinking about listing this spring, understanding where the market stands can help you make smarter, faster decisions.
📊 Market Snapshot
Here’s what February’s data tells us:
Active Listings: 5,144 homes for sale — up 14.5% year-over-year
Average Days on Market: 40 days (compared to 37 days in Feb 2024)
Median List Price: $360,000 — a 2.86% increase year-over-year
Detached Home Sales: Up 17.57%, with a median price of $414,900
Attached Home Sales: Up 34.38%, with a slight median price dip to $315,000
Land & Farms: Inventory down 17.21%, but prices jumped 24.03%
So what does this mean for you?
🏡 Sellers: This Spring Is Your Window
Rising inventory might suggest more competition, but don’t be fooled—demand for move-in ready, well-priced homes remains strong. In fact, we’re already seeing multiple offers and appraisal gap guarantees return for top-tier listings.
✅ Detached home values are holding strong
✅ Homes are still going under contract in just over a month
✅ Serious buyers are showing up prepared to compete
If you’ve been waiting for the right moment to list your home, this is it. Just don’t guess on pricing or presentation—those mistakes can cost you thousands. Let’s make sure your home gets top dollar in today’s market.
🔑 Buyers: You’ve Got More Options—But Don’t Wait Too Long
February brought a surge in inventory and slightly longer days on market, giving buyers more breathing room than they’ve had in recent years. Plus, the dip in attached home prices and steady overall growth make this a promising window to buy.
However, the spring market is already heating up. The best homes are still drawing competitive offers, and hesitating could mean missing out.
✅ More homes to choose from
✅ Room to negotiate—if you move quickly
✅ Great opportunity to lock in a deal before summer competition peaks
Let’s put a strategy in place now so you’re ready to act when the right home hits the market.
Let’s Create Your 2025 Real Estate Game Plan
Whether you're buying, selling, or just watching the market, having a tailored plan is key. I’m here to help you navigate every twist and turn with clarity and confidence.
📲 Call, text, or email me to schedule your custom market consultation.
Erika Granderson
@theeotakurealtor
📱 434-258-3103
📧 erika@hogangrp.com
📍 Serving Newport News, Hampton, and all of Hampton Roads
