Is Hampton, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Hampton has remained a Seller's Market.
Key Takeaway
Hampton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Hampton, VA cost?
Median Sold Price
$301,000
$201/sqft
Based on all homes sold in August 2023.
Difference Since Last Month
Key Takeaway
Homes in Hampton have sold for 128% more than they did a month ago.
Summary: The median home sold price in Hampton was $301,000 in August 2023, up 128% from last month, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $104.5K | - | N/A |
| 3 Bedrooms | $121K | $301K | +148.8% |
| 4 Bedrooms | $371K | - | N/A |
| 5+ Bedrooms | $241.5K | - | N/A |
Summary: Hampton housing prices by bedroom type for August 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 148.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Hampton | $132K | $301K | +128.0% |
| Newport News | $325.2K | $289.4K | -11.0% |
| Yorktown | $620K | $365.9K | -41.0% |
Housing Supply
How many homes are available in Hampton, VA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 582 | 659 | +13.2% |
Summary: The Hampton real estate market had 659 homes for sale in August 2023, a 13.2% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 86 | 83 | -3.5% |
| 3 Bedrooms | 274 | 315 | +15.0% |
| 4 Bedrooms | 173 | 205 | +18.5% |
| 5+ Bedrooms | 43 | 49 | +14.0% |
Summary: The Hampton housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 14%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 151 | 159 | +5.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hampton, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 159 homes were sold or pending in Hampton in August 2023, up by 5.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market
How long does it take to sell a home in Hampton, VA?
Average Sale Time
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 23 Days | 26 Days | +13.2% |
Summary: Homes in Hampton had an average of 26 days on market in Aug 2023, up by 13.2% compared to last month.
Breakdown of Home Sale Times
120 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hampton are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 159 homes were sold in Hampton; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2023 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
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