By Joy Vann
While it is still a seller’s market, the Hampton Roads real estate landscape for 2026 is anything but static. Prices continue to rise and inventory, which has been limited, is growing.
What that means for potential buyers, sellers and real estate professionals will be addressed at the Hampton Roads Real Estate Market Review & Forecast, which will be held from 2 to 6 p.m. on March 12 in Chartway Arena at Old Dominion University. Regional experts will present on all facets of the market including industrial, multifamily, office, residential and retail sectors.
The event is presented by the E.V. Williams Center for Real Estate in the Strome College of Business at Old Dominion University. It is hosted by Simon Stevenson, Ph.D., the Robert M. Stanton Endowed Chair of Real Estate & Economic Development and director of the E.V. Williams Center for Real Estate and the Harvey Lindsay School of Real Estate.
He will emcee the 31st annual event with Krista Costa (B.A. ’00), executive vice president at Divaris Real Estate and chair of the Old Dominion University Real Estate Advisory Board.
When asked about current trends, Dr. Stevenson said the previous year was one of consolidation with some sectors showing signs of improvement despite ongoing uncertainties from tariffs and trade.
He said there is a shift towards adaptive reuse, with examples like Rite Aid locations being converted into car washes.
“They're being innovative, and I think that's been the story for the last few years. It's particularly true for your neighborhood shopping center with a grocery store. Think, how many of the other shops aren't actually shops? They're things like a martial arts center or a gym or a dentist's office. There is a lot of the retail space being used by non-retailers,” he said.
Regarding the residential market, Dr. Stevenson said the experts will weigh in to clear up a murky forecast.
“It’s a bit of a pickup, not a huge recovery, but it's starting. The big thing the last few years has been that people haven't been selling because nobody wanted to give up that 3% mortgage they locked into,” he said.
“People should come along because there's a lot of subtleties. It's a year of consolidation, maybe things aren't as good as they were a couple of years ago in some sectors, but they're not horrible. Sectors that weren't doing great a couple of years ago are showing signs of improvement. So, it might be a steady as you go year.”
Speakers include David Machupa with Cushman & Wakefield | Thalhimer, who will discuss the retail market; J. Van Rose, Jr. with Berkshire Hathaway HomeServices RW Towne Realty, who will talk about the residential market; Nate Fine with The Runnymede Corporation, who will discuss office space; Paul Van with Croatan Investments, who will discuss multifamily real estate; and Tony Beck with CBRE, who will focus on the industrial market.
Deborah Stearns (B.S.,’79), who retired after a lengthy career in the real estate business, will receive the Robert M. Stanton Legacy Award, for her service to the industry.
Old Dominion University’s presentation of the Hampton Roads Real Estate Market Review & Forecast is an annual spring event that highlights a unique partnership between academia and the regional real estate industry.