NEWS RELEASE FOR IMMEDIATE RELEASE January 10, 2026
December Closings Up, Selling Price Growth Slows
VIRGINIA BEACH, Va. – December’s data from the Real Estate Information Network (REIN) shows that settled sales – or closings – were up from both the month prior and the same month during the previous year. REIN data also shows that the number of homes that were listed during December fell from the previous month, but increased year-over-year.
“While homebuyers are typically a little less active in December than they are in the spring and summer, it’s encouraging to see increased buyer activity around the holidays,” said John Chandler of Berkshire Hathaway HomeServices RW Towne Property Management and the President of REIN’s Board of Directors for 2026. “More good news for buyers is that the median selling price was up just 1.4% when compared to last December.”
Chandler said that historically, the median selling prices of homes tend to increase anywhere from 3-5% year-over-year.
On the Southside, Smithfield/Isle of Wight showed the largest year-over-year MSP increase at 26.7%, with an MSP of $457,500. Norfolk recorded the smallest year-over-year increase, with the MSP rising just 0.16% to $315,000.
On the Peninsula, James City County had the largest annual increase at 28% and an MSP of $580,000. Williamsburg recorded the largest year-over-year decline, with the MSP dropping 20.7% to $361,250.
REIN is the multiple listing service in Hampton Roads and the leading provider of real estate data for the region, with offices in Virginia Beach, Hampton, and Portsmouth.
December data points from REIN:
● Active residential listings for December totaled 4,530, down from 5,178 during November, but up 11.25% from 4,072 in December 2024.
● Pending sales for the month stood at 1,839. That’s down from 1,849 in November, but up 10.64% from 1,571 in December 2024.
● Settled sales totaled 2,142, up from 1,774 in November and up 12.56% from 1,903 in December 2024.
● Median sale price (MSP) of homes sold during the month was $360,000. That’s down from $367,000 in November, but up 1.4% from $355,000 in December 2024.
● Month’s Supply of Inventory (MSI) for December was 2.17. That’s down from 2.51 in November, but up from 1.97 in December 2024. MSI is a calculation of how many months there would be homes on the market if no new inventory was added.
● Median days on market (DOM) for the month was 35, as it was in November. The median days on market for December 2024 was 29.
● Residential new construction sold via the MLS during the month was 288, up from 185 in November and up from 186 in December 2024. This represents only new homes sold via REIN MLS.
REIN is a regional Multiple Listing Service (MLS), serving real estate professionals since 1969, with coverage extending from Williamsburg east to Virginia Beach and south across the North Carolina border.
