March 2025 Real Estate Market Update: Momentum Builds This Spring

The spring market is officially underway, and March brought the momentum. Whether you're thinking about buying, selling, or just keeping an eye on the market while sipping your matcha, here’s what this month’s numbers reveal—and how to use them to your advantage.

📊 Market Snapshot – March 2025

• Active Listings: 4,541
  (Up from 4,340 in February and 27% higher year-over-year)

• Pending Sales: 2,333
  (A 5.14% increase from March 2024 and a big jump from February)

• Closed Sales: 1,992
  (Up from February but slightly down compared to March 2024)

• Median Sale Price: $347,500
  (Up 4.67% year-over-year)

• Month’s Supply of Inventory: 2.23 months
  (Still a seller’s market, but slowly increasing)

• Median Days on Market: 22 days
  (Homes are selling faster than last month’s 28 days)

• New Construction Sales: 221
  (Builder activity is back on the rise)

🏡 Sellers: A Strong Start to Spring—But Strategy Is Everything

We’ve hit that sweet spot: buyers are out, they’re serious, and they’re ready to move. But they’re also getting choosier—and with inventory up 27% year-over-year, sellers can’t coast.

The good news? Homes are still moving fast and values are rising. The best listings—those that are well-staged, updated, and priced right—are pulling in multiple offers, often with creative perks like appraisal gap guarantees or flexible closings.

✅ Detached homes continue to hold their value
✅ New construction is drawing attention—competition is healthy
✅ Homes that shine still move quickly and profitably

Let’s position your home to stand out, appeal to relocating buyers, and pull in strong offers from day one. A smart pre-listing plan can be the difference between a good sale—and a great one.

🔑 Buyers: More Homes, More Power—But the Clock is Ticking

This spring feels refreshingly balanced. More inventory. More time. More power. But make no mistake—homes that check all the boxes are still moving quickly.

With median days on market down to 22 and pending sales up over 5% from last year, it’s clear the serious competition is back. But buyers who act with a strategy in hand still hold the advantage.

✅ Increased inventory means more selection and price flexibility
✅ Builders are offering incentives again
✅ Home values are rising gradually—not surging

Whether you’re looking for less maintenance, more customization, or a killer resale opportunity, now’s the time to lock in your budget and fine-tune your game plan. Let’s get you in before summer brings more buyers to the table.

Real Estate Isn’t One-Size-Fits-All—Let’s Talk Strategy

The right plan changes everything.

For sellers, that might mean:
🛠 Pre-listing prep
📈 Smart pricing
📸 Targeted marketing

For buyers, it might include:
💰 Exploring assistance programs
🏘 Considering new construction
🤝 Writing competitive—but creative—offers

My job? Help you move smart, not just fast. I bring market insight, strong local relationships, and a creative approach that puts your goals front and center.

📲 Let’s hop on a quick call or schedule a meeting to map out your next move.

Your next chapter might be closer than you think.

Erika Granderson
@theeotakurealtor
📱 434-258-3103
📧 erika@hogangrp.com
📍 Serving Newport News, Hampton, and all of Hampton Roads