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
Sat Jul 04 2020
This week the median list price for Virginia Beach, VA is $474,900 with the market action index hovering around 44. This is an increase over last month's market action index of 43. Inventory has held steady at or around 719.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
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 | $474,900 | |
| Per Square Foot | $184 | |
| Days on Market | 143 | |
| Price Decreased | 25% | |
| Price Increased | 3% | |
| Relisted | 11% | |
| Inventory | 719 | |
| Median Rent | $1,575 | |
| Most Expensive | $6,950,000 | |
| Least Expensive | $109,900 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $1,175,000 | 4,204 | 0.5 - 1 acre | 5 | 5 | 25 | 13 | 15 | 305 |
| $615,000 | 3,056 | 0.25 - 0.5 acre | 4 | 3 | 24 | 26 | 26 | 154 |
| $392,400 | 2,365 | 0.25 - 0.5 acre | 4 | 3 | 29 | 41 | 43 | 58 |
| $259,900 | 1,540 | 6,500 - 8,000 sqft | 3 | 2 | 43 | 46 | 47 | 55 |