BOLD REALTY MARKET REPORT

Portsmouth, VA

Single-Family Homes

TOM MILAN 757-777-7577



Portsmouth, VA

Tue Oct 19 2021
This week the median list price for Portsmouth, VA is $217,800 with the market action index hovering around 50. This is about the same as last month's market action index of 50. Inventory has decreased to 299. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Portsmouth, VA

Tue Oct 19 2021
This week the median list price for Portsmouth, VA is $217,800 with the market action index hovering around 50. This is about the same as last month's market action index of 50. Inventory has decreased to 299. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $217,800
Median Price of New Listings $205,000
Per Square Foot $141
Average Days on Market 50
Median Days on Market 28
Price Decreased 35%
Price Increased 3%
Relisted 11%
Inventory 299
Median Rent $1,600
Market Action 50
Strong Seller's Market

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
$331,500 2,200 0.25 - 0.5 acre 4 3 32 15 9 21
$239,900 1,659 8,000 - 10,000 sqft 3 2 69 8 10 28
$199,500 1,356 6,500 - 8,000 sqft 3 2 71 20 11 28
$144,000 1,088 4,500 - 6,500 sqft 3 1 79 10 11 35