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A note from CENTURY 21 Together
Autumn on the Peninsula is a season of change, and our housing market is no exception. Mortgage rates have climbed this fall, and many of you have asked what that means for buying, selling, or simply owning a home here.
The short answer is reassuring. Homes in Hampton and Newport News are still selling close to their asking price, and buyers who have waited for more breathing room are finally finding it. Below, we share the numbers, what they mean, and the good news we see across our community.
As always, we are here to talk through your plans, whenever you are ready.
The Peninsula at a glance
In September, single-family homes in Hampton sold for a median of $308,000 and in Newport News for $315,000, with sellers receiving about 98% of their original asking price.
| September 2026 | Median sale price | Median days on market | Share of asking price received | Months of supply |
|---|---|---|---|---|
| Hampton, single-family | $308,000 | 24 | 97.9% | 1.6 |
| Newport News, single-family | $315,000 | 25 | 98.1% | 1.8 |
| Hampton, townhomes and condos | $252,500 | 35 | 97.6% | 1.9 |
| Newport News, townhomes and condos | $198,200 | 38 | 95.8% | 2.0 |
Two things stand out. Homes are taking a little longer to sell than in August: Newport News single-family homes went from 13 days to 25. At the same time, supply remains tight, with less than two months of homes available in every category. A balanced market typically holds about six months of supply, so sellers still hold the advantage.
What’s moving the market
The 30-year fixed mortgage rate averaged 7.40% on October 8, up from 6.30% a year ago, according to Freddie Mac. The 15-year rate averaged 6.73%. Rates have risen for several weeks as bond markets adjust to expectations that interest rates will stay higher for longer.
Nationally, the picture is steady rather than dramatic. In August, the median existing-home price was $429,100, up 1.6% from a year earlier, and the number of homes for sale was 5.9% higher than last year. First-time buyers made up 30% of purchases, up from 28% a year ago, a sign that new homeowners are still finding their way in.
On the Peninsula, supply has stayed far tighter than the national average, which helps protect home values even as rates rise.
The good news
For sellers: with less than two months of supply in Hampton and Newport News, well-prepared homes are still in demand. Sellers received about 98% of their original asking price on single-family homes in September.
For buyers: after several fast-paced years, there is more room to breathe. Homes are staying on the market a bit longer, which means time to tour thoughtfully, compare options, and make a confident decision. Nationally, about one in five listings had a price reduction in September, and 66% of home builders offered incentives, which can help offset a higher rate.
For our community: the Peninsula’s foundations remain strong.
- NASA Langley: Amentum was awarded a $974 million, 10-year contract supporting NASA Langley Research Center in Hampton, a long-term vote of confidence in our local economy.
- Hampton Roads Bridge-Tunnel: the expansion is in its final phase, with added capacity expected by 2027, which should ease the commute between the Peninsula and the Southside.
- Fort Monroe: historic buildings are being redeveloped into new homes, bringing fresh life to one of Hampton’s most treasured places.
What this means for you
If you’re buying: get pre-approved before you tour, so you know exactly what payment feels comfortable. Freddie Mac notes that comparing quotes from several lenders can save thousands over the life of a loan. With homes sitting a little longer, ask about seller concessions or rate buydowns, which can lower your payment.
If you’re selling: first impressions matter more when buyers have time to compare. Thoughtful pricing and a home that photographs beautifully help it stand out in the first two weeks, when interest is highest.
If you’re relocating with the military: PCS timelines don’t wait for the perfect market. Starting the conversation early gives you time to compare neighborhoods, line up financing, and plan your move with confidence.
If you’re staying put: your home has likely held its value well. It’s a good time to review your homeowner’s insurance and property tax assessment, and to ask us for a complimentary home valuation.
News from CENTURY 21 Together
Our new home in Downtown Hampton. We have moved to 25 S King St, Hampton, VA 23669. We would love for you to stop by, say hello, and see the new space.
Seller Concierge. Listing with us includes our complimentary Seller Concierge: professional staging, photography, and marketing materials designed to help your home make a lasting first impression. Subject to qualifications and exclusions; ask us for details.
Let’s talk about your next chapter
Whether you are planning a move this year or simply curious what your home is worth, we would be glad to help. Call us at (757) 538-6123 or email home@century21together.com.
With gratitude,
CENTURY 21 Together
Local figures are for September 2026 from REIN MLS, as compiled by Hampton Roads Real Estate Ramblings, and exclude waterfront and new construction. Information is deemed reliable but not guaranteed. Each office is independently owned and operated.
