Thu Dec 01 2022
This week the median list price for Virginia Beach, VA is $425,000 with the market action index hovering around 44. This is less than last month's market action index of 47. Inventory has held steady at or around 460.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$425,000|
|Median Price of New Listings||$389,450|
|Per Square Foot||$223|
|Average Days on Market||63|
|Median Days on Market||35|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$998,900||3,496||0.5 - 1 acre||5||3.5||29||11||10||63|
|$485,000||2,394||0.25 - 0.5 acre||4||2.5||35||17||16||35|
|$375,000||1,742||8,000 - 10,000 sqft||4||2.5||43||20||13||35|
|$308,100||1,360||6,500 - 8,000 sqft||3||2||57||20||21||28|