Home Values

Virginia Beach 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

$242,800

  • 2.1% 1-year change
  • 1.8% 1-year forecast

The median home value in Virginia Beach is $242,800. Virginia Beach home values have gone up 2.1% over the past year and Zillow predicts they will rise 1.8% within the next year. The median list price per square foot in Virginia Beach is $149, which is higher than the Virginia Beach Metro average of $131. The median price of homes currently listed in Virginia Beach is $265,000 while the median price of homes that sold is $250,950. The median rent price in Virginia Beach is $1,300, which is higher than the Virginia Beach Metro median of $1,250.

Foreclosures will be a factor impacting home values in the next several years. In Virginia Beach 3.7 homes are foreclosed (per 10,000). This is greater than the Virginia Beach Metro value of 1.1 and also lower than the national value of 4.3

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 Virginia Beach is 3.9%, which is lower than the national value of 6.9%. 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 Virginia Beach homeowners underwater on their mortgage is 25.6%, which is lower than Virginia Beach Metro at 25.8%.

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Relative ZHVI
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Virginia Beach Market Overview

Data through Aug 31, 2014
  • $242,800 ZHVI
  • 1.8% 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
    (Aug 31, 2015)
  • $265,000 Median listing price
  • $250,950 Median sale price
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Virginia Beach Market Health

Data through Aug 31, 2014
  • 2.2/10 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
  • 25.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.9% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

3.7 homes Virginia Beach
1.1 homes Virginia Beach Metro
4.3 homes United States
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Neighborhoods in Virginia Beach

Name Median ZHVI
Princess Anne $294,400
Acredale $272,900
Salem $237,500
Name Median ZHVI
Seatack $230,000
Macons Corner $202,200
Thalia $200,900
Name Median ZHVI
Green Run $194,500
Princess Anne Plaza $190,700
Oceana $178,700

Listings & Sales

Data through Aug 31, 2014
  • $149 Median list price / sq ft
  • $143 Median sale price / sq ft
  • 43.7% Listings with price cut
23.2%
Sold below listing
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Virginia Beach Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,545 Virginia Beach
    $1,422 Virginia Beach Metro
    $1,328 United States

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

  • 3.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,300 Rent list price
  • $0.96 Rent list price / sq ft
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