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Hampton Roads, VA

Yes — 2026 is shaping up to be one of the better windows to buy in Hampton Roads in recent years. Inventory is up nearly 9% year-over-year, giving buyers more options and stronger negotiating power than during the pandemic years. Median home prices in Virginia Beach are hovering around $390,000 with modest appreciation expected. Mortgage rates are projected around 6.3% — better than 2025 — and many lenders are offering temporary rate buydowns. If you're ready financially, waiting rarely works in your favor in this market. Call John King at (757) 270-3994 to talk through your options.

As of 2026, median home prices across Hampton Roads are approximately: Virginia Beach — $390,000, Chesapeake — $360,000, and Norfolk — $295,000–$335,000. Virginia Beach remains the most competitive market with homes typically going under contract within 25 days. Chesapeake offers strong value with top-rated schools. Norfolk provides the most affordable entry point in the region, with some neighborhoods seeing double-digit appreciation year-over-year.

No — most buyers in Hampton Roads put down far less than 20%. VA loans require zero down payment and are widely used across the region given the large military community. FHA loans require just 3.5% down, and conventional loans can go as low as 3%. Virginia Housing also offers Down Payment Assistance grants of 2–2.5% for eligible buyers. Norfolk even has a program through NRHA providing up to $60,000 in down payment and closing cost assistance for first-time buyers. John King can connect you with trusted local lenders who know every program available.

Virginia Beach has neighborhoods to suit every lifestyle and budget. Chic's Beach and the North End (23451, 23455) are top picks for waterfront living. Kempsville (23462) and Princess Anne (23456) are family favorites with great schools and central locations. Ocean Lakes and Red Mill (23456, 23464) are consistently popular for their planned community feel and amenities. Pungo (23457) offers rural and waterfront properties at more affordable price points. John King knows every neighborhood intimately — reach out for a personalized recommendation.

In the current Hampton Roads market, well-priced homes in desirable areas are going under contract in 15–30 days on average. Virginia Beach's most sought-after zip codes like 23451, 23454, and 23462 often see offers within the first week. Chesapeake and Norfolk move slightly slower depending on price point and condition. Homes that are properly staged, priced strategically, and marketed with targeted digital advertising — which is John King's specialty — consistently sell faster and closer to asking price.

Sellers in Virginia typically pay 5–6% in real estate commissions plus closing costs of around 1–3% of the sale price. On a $390,000 Virginia Beach home, that's roughly $23,000–$35,000 in total selling costs. However, with the right pricing strategy and marketing, sellers often recoup this and more through stronger offers and faster closings. John King's digital marketing system puts your home in front of thousands of targeted buyers weekly — designed to maximize your net proceeds, not just get a quick sale.

The Hampton Roads market is shifting toward balance in 2026 after years of favoring sellers heavily. Inventory is increasing — active listings are up roughly 9% year-over-year — giving buyers more choices and negotiating leverage, especially above the $400,000 price point. However, well-priced homes under $400K in Virginia Beach and Chesapeake are still seeing multiple offers and strong demand. Sellers who price correctly and present their home well are still achieving excellent results. Buyers have more room to negotiate on condition and terms than they did in 2022–2024.

Hampton Roads is home to the world's largest naval base and multiple military installations, making it one of the most VA loan-friendly markets in the country. Key things to know: VA loans require zero down and no PMI, saving military families thousands. BAH (Basic Allowance for Housing) rates in the 757 area are competitive and often cover a significant portion of a mortgage payment. PCS timelines can be tight — John King is a US Navy veteran who specializes in fast, smooth closings for military families relocating to and from Hampton Roads. Call (757) 270-3994 for priority service.

Virginia Beach zip codes: 23451, 23452, 23453, 23454, 23455, 23456, 23457, 23458, 23461, 23462, and 23464. Chesapeake zip codes: 23320, 23321, 23322, 23323, 23324, and 23325. Norfolk zip codes: 23501, 23502, 23503, 23504, 23505, 23507, 23508, 23509, 23510, 23511, 23513, 23517, and 23518. Click any zip code at the top of this page to search active homes for sale in that specific area.

John King is a full-time Hampton Roads real estate agent with 400+ closed transactions and over a decade of local market experience. As a US Navy veteran, he deeply understands the unique needs of military families and PCS buyers. Unlike most agents who simply list a home and wait, John uses a strategic digital marketing system that puts your property in front of thousands of targeted buyers every week — resulting in more visibility, stronger offers, and faster closings. Backed by the Berkshire Hathaway HomeServices brand, John combines national reach with genuine local expertise. Call (757) 270-3994 or visit 757king.com.