Single-Family Homes
Thu Mar 28 2024
This week the median list price for Virginia Beach, VA is $598,000 with the market action index hovering around 66. This is an increase over last month's market action index of 59. Inventory has decreased to 205.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Median List Price | $598,000 | |
Median Price of New Listings | $439,000 | |
Per Square Foot | $266 | |
Average Days on Market | 71 | |
Median Days on Market | 28 | |
Price Decreased | 31% | |
Price Increased | 3% | |
Relisted | 12% | |
Inventory | 205 | |
Median Rent | ||
Market Action | 66 | |
Strong Seller's Market |
Prices are climbing and we’re nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$1,725,000 | 3,683 | 0.5 - 1 acre | 5 | 4 | 46 | 5 | 6 | 70 |
$799,000 | 2,700 | 0.25 - 0.5 acre | 4 | 3 | 30 | 9 | 12 | 28 |
$474,900 | 2,100 | 0.25 - 0.5 acre | 4 | 2.5 | 45 | 19 | 20 | 14 |
$355,000 | 1,428 | 6,500 - 8,000 sqft | 3 | 2 | 57 | 26 | 29 | 14 |