Your Local Real Estate Market Report

Virginia Beach, VA

Single-Family Homes

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Virginia Beach, VA

Mon Feb 06 2023
This week the median list price for Virginia Beach, VA is $449,925 with the market action index hovering around 44. This is an increase over last month's market action index of 41. Inventory has decreased to 336. Click here to stay informed with the Virginia Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Virginia Beach, VA

Mon Feb 06 2023
This week the median list price for Virginia Beach, VA is $449,925 with the market action index hovering around 44. This is an increase over last month's market action index of 41. Inventory has decreased to 336. Click here to stay informed with the Virginia Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Virginia Beach market.
Median List Price $449,925
Median Price of New Listings $412,500
Per Square Foot $232
Average Days on Market 76
Median Days on Market 42
Price Decreased 35%
Price Increased 3%
Relisted 13%
Inventory 336
Median Rent
Market Action 44
Slight Seller's Advantage

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,147,500 3,626 0.25 - 0.5 acre 5 3.5 21 8 9 66
$550,000 2,407 0.25 - 0.5 acre 4 2.5 35 11 16 49
$386,200 1,846 8,000 - 10,000 sqft 4 2.5 38 9 25 31
$309,700 1,400 6,500 - 8,000 sqft 3 2 51 16 23 35