Virginia Beach Home Prices & Values

$243,400 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.1% 1-year change
  • 0.6% 1-year forecast

The median home value in Virginia Beach is $243,400. Virginia Beach home values have gone up 2.1% over the past year and Zillow predicts they will rise 0.6% within the next year. The median list price per square foot in Virginia Beach is $148, which is higher than the Virginia Beach Metro average of $131. The median price of homes currently listed in Virginia Beach is $263,000 while the median price of homes that sold is $251,117. The median rent price in Virginia Beach is $1,300, which is higher than the Virginia Beach Metro median of $1,275.

Foreclosures will be a factor impacting home values in the next several years. In Virginia Beach 5.7 homes are foreclosed (per 10,000). This is greater than the Virginia Beach Metro value of 1.7 and also greater than the national value of 4.4

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 Jul 31, 2014
  • $243,400 ZHVI
  • 0.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $263,000 Median listing price
  • $251,117 Median sale price
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Virginia Beach Market Health

Data through Jul 31, 2014
  • 2.2/10 Less healthy What's This?  
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    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)

5.7 homes Virginia Beach
1.7 homes Virginia Beach Metro
4.4 homes United States
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Neighborhoods in Virginia Beach

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Princess Anne $298,600 Acredale $270,100 Salem $237,100
Seatack $233,600 Macons Corner $204,200 Thalia $203,500
Green Run $195,200 Princess Anne Plaza $190,500 Oceana $178,700

Listings & Sales

Data through Jul 31, 2014
  • $148 Median list price / sq ft
  • $143 Median sale price / sq ft
  • 41.3% Listings with price cut
22.8%
Sold below listing
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Virginia Beach Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,543 Virginia Beach
$1,418 Virginia Beach Metro
$1,318 United States
  • 5.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,300 Rent list price
  • $0.96 Rent list price / sq ft
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