Virginia Beach Real Estate Market Update is a weekly report of real estate market statistics. This information is for buyers and sellers that are currently in the real estate market or are thinking about getting in to the market. Since Virginia Beach contains multiple zip codes this analysis may or may not be specific to your subdivision and should only be used as a tool to determine trend lines and a look at Virginia Beach as a whole.
This week in Virginia Beach the median list price remained at $239,900 with the average asking price per square foot at $150.00. An average day on market is 164 days. Inventory has been lightening lately and the Market Action Index has been trending up. Home sales have been exceeding new inventory for several weeks. The Market Action index has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market. We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Buyers and sellers should consult a Realtor for specific market updates in reference to your subdivision. A CMA (Current Market Analysis) should be done prior to putting a listing on the market or making and receiving offers. When visiting the website Virginia Beach Real Estate Market Update be sure to check for your zip code, if it is not listed please contact me directly for a specific CMA.
Virginia Beach Real Estate Market Update
All data was pulled from REIN and Altos Research for Virginia Beach Real Estate Market Update.
Virginia Beach Real Estate Market
Comments(0)