Virginia Beach, VA 23451 Real Estate Market Report

ZIP Code: 23451
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Virginia Beach, VA (ZIP: 23451) is currently $870,000, reflecting a stable market environment with moderate price appreciation. This price indicates a healthy demand for properties, despite the $995,000 median listing price suggesting some pricing friction for sellers. The neighborhood has experienced an upward trend in prices, contributing to a balanced market where well-priced properties may attract buyers more readily.

Market activity shows a median days on market of 296, which suggests a slower sales velocity, potentially indicating that buyers are taking their time to make decisions. The overall inventory conditions are characterized by elevated inventory levels relative to sales activity, which may create opportunities for buyers but also suggests that sellers need to be strategic with their pricing to ensure competitive positioning in the market.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price of $870,000 indicates strong market demand, despite a higher median listing price of $995,000 suggesting some pricing friction.

2. With a median days on market of 296, the market is experiencing slower sales velocity, which may indicate that buyers are exercising caution in their purchasing decisions.

3. The median market rent stands at $2,385, reflecting a rising trend in rental prices, which may attract investors looking for rental opportunities.

4. The market temperature is currently neutral, suggesting a balanced environment where both buyers and sellers can find opportunities without significant pressure on either side.

5. Overall, the price year-over-year trend is up, indicating a positive trajectory for property values in the area, which may encourage continued investment.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.