"The median listing price in Virginia Beach hit $482,500, up 10.5% year-over-year, while homes sold in just 29 days, nearly half the national pace."
"New listings jumped 11.4% year-over-year, yet total active inventory only edged up 3.2%, well below the national growth rate of 4.6%."
"Only 14.3% of listings carried a price cut, below the national share of 16.7%, indicating that significant negotiating room is the exception, not the rule."
"The typical home sold in just 29 days in April, nearly 45% faster than the average U.S. home, highlighting the speed of the market."
In April, Virginia Beach experienced a strong real estate market with a median listing price of $482,500, reflecting a 10.5% year-over-year increase. Homes sold quickly, averaging just 29 days on the market, significantly faster than the national average of 52 days. Although new listings rose by 11.4%, total active inventory only increased by 3.2%, indicating strong demand. The market remains challenging for buyers, with limited negotiating power and few price cuts, as sellers continue to benefit from the high demand.
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