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Virginia Beach Real Estate Market Update May 7, 2012
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.
The median list price in VIRGINIA BEACH, VA this week is $329,900. The 1124 properties have been on the market for an average of 204 days. The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Buyers and sellers should consult a Realtor for specific market updates in reference to your subdivision. A CMA (Current Market Analysis) should be ... more

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