Barry Jenkins Jr - Your Friend in Real Estate Team
Virginia Beach, VA
Single-Family Homes
www.virginiabeachrealtysearch.com Barry@yourfriendlyagent.net (757) 965-6982
Virginia Beach, VA
Mon Apr 22 2019
This week the median list price for Virginia Beach, VA is $434,950 with the market action index hovering around 36. This is about the same as last month's market action index of 36. Inventory has held steady at or around 1158.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $434,950 | |
| Per Square Foot | $174 | |
| Days on Market | 123 | |
| Price Decreased | 32% | |
| Price Increased | 4% | |
| Relisted | 15% | |
| Inventory | 1158 | |
| Median House Rent | $1,600 | |
| Most Expensive | $7,200,000 | |
| Least Expensive | $70,000 | |
| Market Action Index Slight Seller's Advantage | 36 |
The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $964,000 | 3,950 | 0.5 - 1 acre | 5 | 4 | 26 | 19 | 13 | 221 |
| $540,000 | 2,918 | 0.25 - 0.5 acre | 4 | 3 | 23 | 30 | 12 | 127 |
| $364,000 | 2,312 | 0.25 - 0.5 acre | 4 | 3 | 31 | 59 | 42 | 73 |
| $240,000 | 1,595 | 6,500 - 8,000 sqft | 3 | 2 | 43 | 49 | 45 | 73 |