Top Medium Teams in Virginia Beach, Virginia – Ranked by Sides

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    • Rank – City SidesTeam NameCompanyLocationSidesProfile
    6HRVA HomesKeller WilliamsVirginia Beach, VA 135.0View Profile
    8Hunt for HomesIron Valley Real Estate Hampton RoadsVirginia Beach, VA 108.0View Profile

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    2023 Virginia Beach, Virginia Housing Market Summary

    Virginia Beach, Virginia started 2023 with a total of 370 single-family homes on the market, with a median home price of $449,900 and an average price per square foot of $277. By the end of the year, inventory had decreased to 300 homes on the market (-18%), with a median home price of $482,450 (+7%) and an average price per square foot of $297 (+7%).

    At the start of 2023, the median days on market (DOM) was 49 days – by the end of the year, median DOM had increased to 56 days.

    Virginia Beach started the year with 36% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 42% of Virginia Beach homes for sale had taken a price cut.

    Finally, Altos’ proprietary Market Action Index (MAI) shows that Virginia Beach started 2023 as a strong seller’s market, with an MAI score of 47; by the end of the year, the MAI had dropped to 42 – a slight seller’s advantage.

    This market summary is powered by Altos Research – click here to run a free report for your area.

    Housing Market News

    AdobeStock_250556333

    Lower mortgage rates attracting more homebuyers 

    Sep 16, 2024By

    An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

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