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| JUNE 2025 | |||
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| Units Sold 621 |
Active Inventory 750 |
Median Sale Price $395,000 |
Days On Market 22 |
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| Up 16% Vs. Year Ago |
Down -2% Vs. Year Ago |
Down -4% Vs. Year Ago |
Up 10% Vs. Year Ago |
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Units Sold
The number of units sold remained stable in June, with 621 sold this month in Virginia Beach City Real Estate. This month's total units sold was higher than at this time last year, an increase of 5% versus June 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 2%. The total number of active inventory this June was 750 compared to 767 in June 2024. This month's total of 750 is lower than the previous month's total supply of available inventory of 955, a decrease of 21%. |
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Median Sale Price
Last June, the median sale price for Virginia Beach City Homes was $410,000. This June, the median sale price was $395,000, a decrease of 4% or $15,000 compared to last year. The current median sold price is 3% lower than in May. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 675 |
Current Contracts 759 |
Sold Vs. List Price 99.5% |
Months of Supply 1.2 |
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| Up 5% Vs. Year Ago |
Up 51% Vs. Year Ago |
Down -0.9% Vs. Year Ago |
Down -15% Vs. Year Ago |
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Months of Supply
In June, there was 1.2 months of supply available in Virginia Beach City, compared to 1.4 in June 2024. That is a decrease of 15% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 675 homes newly listed for sale in Virginia Beach City compared to 645 in June 2024, an increase of 5%. There were 759 current contracts pending sale this June compared to 503 a year ago. The number of current contracts is 51% higher than last June. |
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Sale Price to List Price Ratio
In June, the average sale price in Virginia Beach City was 99.5% of the average list price, which is 0.9% lower than at this time last year. Days on Market
This month, the average number of days on market was 22, higher than the average last year, which was 20, an increase of 10%. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by REIN and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of REIN or Long & Foster Real Estate, Inc. |
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