Virginia Beach, VA 23451 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. $913,250 is the median sold price and should be treated as the primary indicator of realized market value for recent transactions; prices are reported up year‑over‑year, which suggests continued appreciation but at a measured pace given the neutral market temperature.
2. $1,197,450 is the median listing price, creating a notable spread versus the median sold price that may indicate elevated seller expectations relative to closed transactions and could produce pricing friction unless sellers adjust toward recent sale levels.
3. 308 median days on market points to slower sales velocity in the sample and, combined with a relatively constrained active supply in analyzed listings, suggests liquidity is modest rather than brisk—transactions may take longer to achieve contract and close.
4. $424 median price per square foot paired with a $2,150 median market rent and rents reported up indicates rental demand is strengthening; with interest rate pressure described as moderate (current 30‑year fixed ~6.7%), owners and investors should weigh financing cost sensitivity against rising rental cash flow potential.

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.