Virginia Beach Market Report – February 24, 2025 | Home Prices, Inventory & Trends
Virginia Beach Market Report – February 24, 2025
The Market Is Moving—What You Need to Know
If you’re considering a move in Virginia Beach, understanding current trends is key. Here’s what’s happening in the market:
✅ Median List Price: $559,900
✅ Median Price of New Listings: $450,000
✅ Price Per Square Foot: $277
✅ Inventory: 251 homes (decreasing)
✅ Average Days on Market: 91
✅ Median Days on Market: 49
✅ Market Action Index: 52 → Strong Seller’s Market
What’s Changing?
Home prices are on an upward trend, driven by strong demand.
Inventory remains tight, creating a competitive environment for buyers.
The market is favoring sellers, but buyers can still find value by being well-prepared.
🔍 Market Breakdown by Price Segments
(Each category represents 25% of the market)
$1.6M+ Luxury Market: Avg. Days on Market: 94
$779,900 – $1.6M: Avg. Days on Market: 91
$460,000 – $779,900: Fastest-moving segment, Avg. DOM: 14
Under $460,000: Competitive, Avg. DOM: 35
💡 The higher-priced market is seeing longer sales cycles, while mid-range and entry-level homes are selling quickly.
What This Means for You
🔹 For Buyers
Limited inventory means acting quickly is key.
Prices per square foot are rising, reflecting continued demand.
A strategic approach—working with a professional and being pre-approved—can help navigate the market.
🔹 For Sellers
It’s a strong seller’s market, meaning well-priced homes are moving.
Strategic pricing and marketing can maximize value.
If you're considering selling, I offer free home valuations to help you determine the best timing.
Should You Buy or Sell Now?
📈 Buyers: Market trends indicate continued price appreciation. Locking in today’s pricing could be a smart move before interest rates or prices increase further.
📉 Sellers: With limited inventory and high demand, now is a great time to list your home and maximize your return.
🗝 The market is always changing, but one thing stays the same—having the right expert makes all the difference. If you’d like a copy of the full report DM me and I will get it over to you!
✨ Jennifer D Holds the Key to navigating the Virginia Beach market with confidence.
📩 Need expert advice? Let’s schedule a strategy session to discuss your goals!
📌 Source: Altos Research Market Data, February 2025
Disclaimer
All real estate market data presented in this report is sourced from Altos Research as of February 2025 and is subject to change. This report is for informational purposes only and should not be considered financial, investment, or real estate advice. Buyers and sellers should consult with a qualified real estate professional before making any real estate decisions. Jennifer Dawn Real Estate is committed to Fair Housing compliance and equal opportunity for all home buyers and sellers.