VIRGINIA BEACH CITY HOUSING MARKET DATA

There was a decrease in total units sold in July, with 610 sold this month in Virginia Beach City Real Estate versus 628 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 7% versus July 2024.

Versus last year, the total number of homes available this month is lower by 29 units or 3%. The total number of active inventory this July was 810 compared to 839 in July 2024. This month's total of 810 is lower than the previous month's total supply of available inventory of 950, a decrease of 15%.

Last July, the median sale price for Virginia Beach City Homes was $389,000. This July, the median sale price was $404,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 2% higher than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In July, there was 1.3 months of supply available in Virginia Beach City, compared to 1.5 in July 2024. That is a decrease of 10% 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.

This month there were 744 homes newly listed for sale in Virginia Beach City compared to 680 in July 2024, an increase of 9%. There were 733 current contracts pending sale this July compared to 504 a year ago. The number of current contracts is 45% higher than last July.

In July, the average sale price in Virginia Beach City was 99.3% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 26, higher than the average last year, which was 21, an increase of 24%.





FOCUS ON: VIRGINIA BEACH CITY HOUSING MARKET			JULY 2025

Units Sold 610	Active Inventory 810	Median Sale Price $404,000	Days On Market 26

Up 7% Vs. Year Ago	Down -3% Vs. Year Ago	Up 4% Vs. Year Ago	Up 24% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 610 sold this month in Virginia Beach City Real Estate versus 628 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 7% versus July 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 29 units or 3%. The total number of active inventory this July was 810 compared to 839 in July 2024. This month's total of 810 is lower than the previous month's total supply of available inventory of 950, a decrease of 15%.
		Median Sale Price Last July, the median sale price for Virginia Beach City Homes was $389,000. This July, the median sale price was $404,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 2% higher than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 744	Current Contracts 733	Sold Vs. List Price 99.3%	Months of Supply 1.3

Up 9% Vs. Year Ago	Up 45% Vs. Year Ago	Down -0.9% Vs. Year Ago	Down -10% Vs. Year Ago


		Months of Supply In July, there was 1.3 months of supply available in Virginia Beach City, compared to 1.5 in July 2024. That is a decrease of 10% 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.
New Listings & Current Contracts This month there were 744 homes newly listed for sale in Virginia Beach City compared to 680 in July 2024, an increase of 9%. There were 733 current contracts pending sale this July compared to 504 a year ago. The number of current contracts is 45% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Virginia Beach City was 99.3% 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 26, higher than the average last year, which was 21, an increase of 24%.



	*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.