September 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. The median sale price increased in many 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 regionincreased in many areas, jumping by 9 percent in Virginia Beach City and by 7 percent in Chesapeake City. Norfolk City saw a 6 percent increase in median sale price. Hampton City experienced a 4 percent rise, while Newport News City saw a 5 percent decline.

The number of homes sold in the Hampton Roads region varied throughout the area compared to September 2013. Norfolk City experienced a 15 percent increase and Newport News City saw no change in the number of homes sold. Other areas saw declines ranging from 3 percent to 8 percent.

Compared to the same month last year, inventory remained low throughout the area, decreasing by 13 percent in Norfolk City. Newport News City saw a 12 percent drop, followed by Hampton City with a 10 percent decline. Chesapeake City and Virginia Beach City experienced declines of 9 percent and 7 percent, respectively.

Many areas continued to see homes selling at a solid pace in September. In Virginia Beach City, the days on market (DOM) average was 72 days, while homes are selling in about 75 days on average in Chesapeake City. Other areas experienced DOM averages ranging from 77 to 105 days.

“September brought good news to many areas of the Mid-Atlantic real estate market, including in the Hampton Roads region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Median sale prices have risen in many areas and growing inventory means homebuyers have more options to choose from. We anticipate more improvements in the months ahead.”

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.