Home Values

Portsmouth Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$139,400

  • 2.3% 1-year change
  • 1.1% 1-year forecast

The median home value in Portsmouth is $139,400. Portsmouth home values have gone up 2.3% over the past year and Zillow predicts they will rise 1.1% within the next year. The median list price per square foot in Portsmouth is $96, which is lower than the Virginia Beach Metro average of $129. The median price of homes currently listed in Portsmouth is $135,000 while the median price of homes that sold is $137,240. The median rent price in Portsmouth is $999, which is lower than the Virginia Beach Metro median of $1,200.

Foreclosures will be a factor impacting home values in the next several years. In Portsmouth 0.2 homes are foreclosed (per 10,000). This is lower than the Virginia Beach Metro value of 1.3 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Portsmouth is 6.3%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Portsmouth homeowners underwater on their mortgage is 37.0%, which is higher than Virginia Beach Metro at 27.5%.

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Relative ZHVI
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Portsmouth Market Overview

Data through Dec 31, 2014
  • $139,400 ZHVI
  • 1.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $135,000 Median listing price
  • $137,240 Median sale price
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Portsmouth Market Health

Data through Dec 31, 2014
  • 0.8/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 37.0% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 6.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

0.2 homes(Jan 31, 2014) Portsmouth
1.3 homes Virginia Beach Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Yorktown $308,300
Seaford $286,600
Virginia Beach $244,300
Name Median ZHVI
Chesapeake $236,600
Newport News $155,100
Hampton $151,700

Listings & Sales

Data through Dec 31, 2014
  • $96 Median list price / sq ft
  • $98 Median sale price / sq ft
  • 19.4% Listings with price cut
33.4%
Sold below listing
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Portsmouth Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,172 Portsmouth
    $1,425 Virginia Beach Metro
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $999 Rent list price
  • $0.89 Rent list price / sq ft
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