June brought some good news to the Hampton Roads region real estate market, which includes Chesapeake, Hampton, Newport News, Norfolk and Virginia Beach cities, according to The Long & Foster Market Minute reports. Median sale prices increased in some areas, and inventory remained low throughout the region.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The median sale price in the Hampton Roads region increased in some areas, including by 13 percent in Newport News City and 1 percent in Hampton City. Median sale price decreased by 3 percent in Chesapeake City and by 4 percent in both Norfolk and Virginia Beach cities.

Compared to the same month last year, inventory remained low throughout the area, decreasing by 12 percent in Hampton City. Norfolk City saw a 9 percent decrease, followed by Chesapeake City with an 8 percent decline. Both Newport News and Virginia Beach cities experienced decreases of 6 percent.

The number of homes sold decreased throughout the Hampton Roads region in June, though many areas continued to see homes selling at a steady pace. In Chesapeake City, the days on market (DOM) average was 53 days, while homes are selling in about 65 days on average in Virginia Beach City. Other areas experienced DOM averages ranging from 75 to 103 days.

“We’re now halfway through 2014, and this year has brought many positive developments like increasing sale prices and quick home sales,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Overall, the market is stabilizing and that will help keep the industry healthy and ready for future growth.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.