"In October, home prices rose slightly from the month before, with a median listing price of $454,694. The number of listings on the market remained practically unchanged from last month, but it is a smaller 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."
"Typically, home price per square foot in Virginia Beach tend to rise in October. But the most recent data shows that the price per square foot decreased by 2.4% 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 larger the national market."
Median listing price in Virginia Beach rose slightly in October to $454,694. Price per square foot decreased 2.4% month-over-month, larger than the national decrease of 0.8%. Active inventory in Virginia Beach was 856 homes for sale, down 0.9% from the prior month and up 5.3% year-over-year. New listings numbered 516, up 1.6% month-over-month and down 0.4% year-over-year. National active inventory remained essentially unchanged at 1,100,001, while national new listings fell 2.7% to 384,264. Homes in Virginia Beach averaged 36 days on market, unchanged month-over-month and three days longer than a year earlier; the national average was 63 days.
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