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
Wed Dec 11 2019
This week the median list price for Virginia Beach, VA is $439,900 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has held steady at or around 970.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $439,900 | |
| Per Square Foot | $178 | |
| Days on Market | 146 | |
| Price Decreased | 40% | |
| Price Increased | 5% | |
| Relisted | 15% | |
| Inventory | 970 | |
| Median Rent | $1,750 | |
| Most Expensive | $7,500,000 | |
| Least Expensive | $110,000 | |
| Market Action | 37 | |
| Slight Seller's Advantage | ||
Prices appear to be hovering around their high point. Look for a persistent down-shift 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 |
|---|---|---|---|---|---|---|---|---|
| $994,000 | 4,121 | 0.5 - 1 acre | 5 | 4 | 28 | 11 | 16 | 278 |
| $559,900 | 2,948 | 0.5 - 1 acre | 4 | 3 | 19 | 15 | 25 | 156 |
| $365,000 | 2,275 | 0.25 - 0.5 acre | 4 | 3 | 32 | 28 | 26 | 75 |
| $245,000 | 1,533 | 6,500 - 8,000 sqft | 3 | 2 | 45 | 32 | 37 | 73 |