Altos Market Data for Realtors
Virginia Beach, VA
Single-Family Homes
Schedule a demo today at AltosResearch.com
Virginia Beach, VA
Fri Apr 26 2024
This week the median list price for Virginia Beach, VA is $512,500 with the market action index hovering around 69. This is about the same as last month's market action index of 69. Inventory has increased to 378.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $512,500 | |
| Median Price of New Listings | $439,900 | |
| Per Square Foot | $251 | |
| Average Days on Market | 45 | |
| Median Days on Market | 7 | |
| Price Decreased | 19% | |
| Price Increased | 3% | |
| Relisted | 6% | |
| Inventory | 378 | |
| Median Rent | ||
| Market Action | 69 | |
| Strong Seller's Market | ||
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,360,000 | 3,651 | 0.5 - 1 acre | 5 | 3.5 | 34 | 35 | 6 | 42 |
| $629,450 | 2,565 | 0.25 - 0.5 acre | 4 | 2.5 | 29 | 40 | 5 | 10 |
| $439,000 | 1,900 | 8,000 - 10,000 sqft | 4 | 2.5 | 38 | 62 | 6 | 7 |
| $349,900 | 1,484 | 6,500 - 8,000 sqft | 3 | 2 | 47 | 67 | 9 | 7 |