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

$244,300

  • 2.3% 1-year change
  • 1.7% 1-year forecast

The median home value in Virginia Beach is $244,300. Virginia Beach home values have gone up 2.3% over the past year and Zillow predicts they will rise 1.7% within the next year. The median list price per square foot in Virginia Beach is $147, which is higher than the Virginia Beach Metro average of $129. The median price of homes currently listed in Virginia Beach is $259,900 while the median price of homes that sold is $241,000. The median rent price in Virginia Beach is $1,300, which is higher than the Virginia Beach Metro median of $1,200.

Foreclosures will be a factor impacting home values in the next several years. In Virginia Beach 4.4 homes are foreclosed (per 10,000). This is greater than the Virginia Beach Metro value of 1.3 and also greater 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 Virginia Beach is 3.6%, 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 Virginia Beach homeowners underwater on their mortgage is 25.2%, which is lower than Virginia Beach Metro at 27.5%.

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Relative ZHVI
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Virginia Beach Market Overview

Data through Dec 31, 2014
  • $244,300 ZHVI
  • 1.7% 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)
  • $259,900 Median listing price
  • $241,000 Median sale price
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Virginia Beach Market Health

Data through Dec 31, 2014
  • 3.0/10 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
  • 25.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.6% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

4.4 homes Virginia Beach
1.3 homes Virginia Beach Metro
4 homes United States
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Neighborhoods in Virginia Beach

Name Median ZHVI
Princess Anne $301,200
Acredale $270,500
Seatack $243,700
Name Median ZHVI
Salem $235,700
Macons Corner $207,400
Thalia $202,600
Name Median ZHVI
Green Run $197,200
Princess Anne Plaza $193,600
Oceana $186,000

Listings & Sales

Data through Dec 31, 2014
  • $147 Median list price / sq ft
  • $142 Median sale price / sq ft
  • 17.3% Listings with price cut
23.4%
Sold below listing
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Virginia Beach Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,561 Virginia Beach
    $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

  • 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
  • $0.95 Rent list price / sq ft
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