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
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 have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $389,000 | |
| Per Square Foot | $171 | |
| Days on Market | 101 | |
| Price Decreased | 38% | |
| Price Increased | 4% | |
| Relisted | 14% | |
| Inventory | 1919 | |
| Median House Rent | $1,600 | |
| Most Expensive | $7,500,000 | |
| Least Expensive | $82,000 | |
| Market Action Index Slight Seller's Advantage | 30 |
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $839,900 | 3,700 | 0.5 - 1 acre | 5 | 4 | 24 | 20 | 38 | 187 |
| $475,000 | 2,686 | 0.25 - 0.5 acre | 4 | 3 | 21 | 28 | 52 | 94 |
| $325,000 | 2,090 | 0.25 - 0.5 acre | 4 | 3 | 32 | 38 | 47 | 62 |
| $240,000 | 1,500 | 6,500 - 8,000 sqft | 3 | 2 | 42 | 46 | 49 | 60 |