August 2026 Real Estate Market Report: Franklin, Southampton, Isle of Wight, Sussex, Surry & Suffolk

As summer winds down, the housing picture across our local communities looks different from one market to the next. Franklin and Southampton have median asking prices below $280,000, Isle of Wight has the highest median asking price of these six areas, and Suffolk has the shortest median listing time.

For buyers and sellers, those differences matter. A pricing strategy that makes sense in one community may need to change just a few miles down the road.

Here is a look at the August market snapshots for Franklin, Southampton County, Isle of Wight County, Sussex County, Surry County, and Suffolk, Virginia.

About this report: Figures below come from Realtor.com market summaries labeled “as of August 2026,” accessed September 8, 2026. They are listing-market snapshots, not a finalized MLS report of August closings. The source pages separately label their historical charts as running through July 2026. Median listing prices are asking prices, not sold prices or estimates of an individual home’s value.

The local market at a glance

Community	Median asking price	Year-over-year asking-price change	Active listings	Median listing days
Franklin	$269,500	−8.88%	83	51
Southampton County	$277,450	−15.66%	98	76
Isle of Wight County	$528,745	+9.25%	270	46
Sussex County	$299,999	+13.44%	56	78
Surry County	$394,450	−7.19%	64	54
Suffolk	$415,000	−0.82%	673	42

Figures use the source summary tables consistently; property mix and source coverage affect comparisons. Listing days on market do not measure the time from contract to closing. Source links appear in each community section below.

Franklin: A lower asking-price benchmark

Franklin’s median asking price of $269,500 is the lowest among the six communities in this report. That figure is down 8.88% from a year earlier, with 83 active listings and a median listing time of 51 days. Franklin market data.

My takeaway: buyers comparing these areas have a useful starting point in Franklin, but should compare condition, size, and location before deciding what represents value. For sellers, the lower asking-price median makes recent comparable sales especially important when setting an initial price. It does not mean every Franklin home has lost the same percentage of value.

Southampton County: Build time into your plans

Southampton’s median asking price is $277,450, down 15.66% year over year. The snapshot reports 98 active listings and 76 median days on market. Listing time is approximately 51% longer than a year earlier. Southampton County market data.

My takeaway: sellers should plan for the possibility of a longer marketing period and pay attention to showing feedback. Buyers can use a property’s listing history to guide questions about price and terms. A longer listing period may create a negotiating opportunity, but each property’s condition and comparable sales still need to support the offer.

Isle of Wight County: Higher asking prices and more inventory

Isle of Wight, or IOW, has a median asking price of $528,745, up 9.25% from a year ago. The source reports 270 active listings, with its summary table showing inventory up 30.46% year over year. Median listing time is 46 days. Isle of Wight County market data.

My takeaway: higher asking prices and more inventory can exist together. Buyers should compare the available alternatives carefully, while sellers need to explain their home’s value through condition, features, and competitive pricing. A rising countywide asking-price median alone does not establish what a particular home will sell for.

Sussex County: Higher asking prices meet longer listing times

Sussex’s median asking price is $299,999, up 13.44% year over year. The snapshot includes 56 active listings and 78 median days on market, the longest listing time in this six-area comparison. Days on market are up approximately 38% from a year ago. Sussex County market data.

My takeaway: sellers should be cautious about treating a higher asking-price median as proof that buyers will pay more for every property. The longer listing time makes realistic pricing and presentation important. Buyers should examine comparable closed sales and property details before interpreting an asking price as market value.

Surry County: More choice, with a shorter listing time

Surry’s median asking price is $394,450, down 7.19% year over year. The summary table reports 64 active listings, up 18.18%, while median listing time is 54 days, approximately 8.5% shorter than a year earlier. Surry County market data.

My takeaway: these figures show why inventory alone cannot tell the whole story. A larger selection does not automatically mean listings are spending longer on the market. Buyers should evaluate suitable properties promptly, and sellers should use closely comparable homes to guide expectations rather than relying on the countywide median.

Suffolk: Nearly flat asking prices and the shortest listing time

Suffolk’s median asking price is $415,000, down just 0.82% year over year. The snapshot reports 673 active listings and 42 median days on market, unchanged from a year earlier and the shortest listing time among these six areas. Suffolk market data.

My takeaway: Suffolk offers the largest reported inventory in this comparison, but the citywide total does not tell buyers how many homes fit their budget and location needs. Sellers should compare their property with its direct competition. Buyers should narrow the search by price, condition, and location before judging how much choice they have.

What this means for your next move

My reading of these snapshots is that local comparisons matter more than a single regional headline. Asking prices, available listings, and marketing times are moving differently across the six communities.

If you are buying, use these numbers to focus your search, then examine the homes that fit your needs. If you are selling, start with comparable closed sales and current competing listings so your pricing reflects your property’s position in the market.

Let’s talk about your local market

Thinking about buying or selling in Franklin, Southampton, Isle of Wight, Sussex, Surry, or Suffolk? I can help you compare local options and understand what the numbers mean for your next move.

Kelly Reider | Hometown Realty | 757-404-2478