Virginia Beach, VA local notes, issue 1
Virginia Beach homes sold fell 8% this month to 566, and the median home took 28 days to sell, up 12%. Median sale price held at $429,795. Expect more price talk with sellers.
Housing figures this month
Redfin's figures for Virginia Beach show a median sale price of $429,795. That is unchanged since last month, at 0%. Median price per square foot was $249, up 0.9%. Price held. The move this month is in pace, not in level.
Homes sold came to 566, down 8%. New listings were 623, down 6.6%. Homes for sale at month end numbered 1,140, down 0.9%. Months of supply was 2, up 10.5%. Sales fell faster than inventory, so supply stretched.
The median home spent 28 days on the market, up 12%. Homes sold at 99.4% of list on average, down 0.3 points. Of the homes sold, 32.1% went above asking, down 4 points. The share of homes for sale with a price cut was 27%, up 0.8 points. For you: expect more talk about price with sellers. Keep these figures at hand when a seller asks why a home is taking longer.
Answers that name an agent
We ask ChatGPT, Perplexity, Gemini and Google AI Overviews a fixed set of questions about Virginia Beach, 3 questions per market. We count how often an answer names an agent, and which kinds of sources the answers cite.
Those counts cover the half year to the end of this month. Their moves compare them with the half year to the end of last month. This issue reports no such figure, so we state none here.
Virginia Beach and Virginia
This issue holds no figures for Virginia, so we draw no comparison between Virginia Beach and the state. When we have both, the note will set them side by side.
Meanwhile, read the Virginia Beach figures above against your own listings and closings.
Data provided by Redfin, a national real estate brokerage.