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| MARCH 2025 | |||
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| Units Sold 439 |
Active Inventory 642 |
Median Sale Price $396,000 |
Days On Market 29 |
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| Down -5% Vs. Year Ago |
Up 10% Vs. Year Ago |
Up 7% Vs. Year Ago |
Down -3% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 439 sold this month in Virginia Beach City Real Estate versus 374 last month, an increase of 17%. This month's total units sold was lower than at this time last year, a decrease of 5% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 59 units or 10%. The total number of active inventory this March was 642 compared to 583 in March 2024. This month's total of 642 is lower than the previous month's total supply of available inventory of 740, a decrease of 13%. |
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Median Sale Price
Last March, the median sale price for Virginia Beach City Homes was $370,250. This March, the median sale price was $396,000, an increase of 7% or $25,750 compared to last year. The current median sold price is 1% lower than in February. 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 722 |
Current Contracts 705 |
Sold Vs. List Price 99.5% |
Months of Supply 1.5 |
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| Up 36% Vs. Year Ago |
Up 39% Vs. Year Ago |
No Change Vs. Year Ago |
Up 15% Vs. Year Ago |
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Months of Supply
In March, there was 1.5 months of supply available in Virginia Beach City, compared to 1.3 in March 2024. That is an increase 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 722 homes newly listed for sale in Virginia Beach City compared to 531 in March 2024, an increase of 36%. There were 705 current contracts pending sale this March compared to 507 a year ago. The number of current contracts is 39% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Virginia Beach City was 99.5% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 30, a decrease of 3%. | |||
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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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