In September, home prices rose slightly from the month before, with a median listing price of $453,475.
The number of listings on the market shrank 1.8% from last month, which is a bigger decrease than normal for this time of the year in Virginia Beach, and homes are also selling slower than at the same time last year.
Home prices in Virginia Beach
Typically, home price per square foot in Virginia Beach tend to fall in September. And the most recent data shows that the price per square foot decreased by 0.1% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Resort City are smaller the national market.
Virginia Beach inventory
In September, there were 864 homes for sale in Virginia Beach, which was 1.8% less than the month before and 6.1% more than the same time last year.
Meanwhile, active inventory across the nation rose by 0.2% from last month to 1,100,407.
Time on market
Homes in Virginia Beach take an average of 36 days to sell, according to September figures.
This is one day more than the previous month and two days more than the same month last year.
For comparison, nationally homes spent an average of 62 days on the market in September.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Virginia Beach, VA.