Is Virginia Beach, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Virginia Beach is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Virginia Beach has remained a Seller's Market.

Key Takeaway

Virginia Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Virginia Beach, VA

How much do homes in Virginia Beach, VA cost?

Median Sold Price

$163,000

$199/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$637,000(-79.6%)

Key Takeaway

Homes in Virginia Beach have sold for 79.6% less than they did a month ago.

Summary: The median home sold price in Virginia Beach was $163,000 in April 2024, down 79.6% from last month, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 -$163K
N/A
3 $800K-
N/A
4 --
N/A
5+ --
N/A

Summary: Virginia Beach housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Corolla
+8.6%
Virginia Beach
-79.6%

Housing Supply in Virginia Beach, VA

How many homes are available in Virginia Beach, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,5991,827+14.3%

Summary: The Virginia Beach real estate market had 1,827 homes for sale in April 2024, a 14.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1115
+36.4%
2 250294
+17.6%
3 620683
+10.2%
4 504583
+15.7%
5+ 214252
+17.8%

Summary: The Virginia Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.4%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 17.8%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4454470.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Virginia Beach, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 447 homes were sold or pending in Virginia Beach in April 2024, up by 0.4% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Virginia Beach, VA

How long does it take to sell a home in Virginia Beach, VA?

Average Sale Time

Mar 2024Apr 2024CHANGE
29 Days22 Days-24.0%

Summary: Homes in Virginia Beach had an average of 22 days on market in Apr 2024, down by 24% compared to last month.

Breakdown of Home Sale Times

337 Homes Were Sold
Under 30 Days

89 Homes Were Sold
In 30 - 90 Days

21 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Virginia Beach are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 447 homes were sold in Virginia Beach; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

Newest Listings in Virginia Beach, VA

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