Virginia Beach, Virginia started 2024 with a total of 280 single-family homes on the market, with a median home price of $499,900 and an average price per square foot of $304.59. By the end of the year, inventory had increased to 302 homes on the market (+8%), with a median home price of $549,900 (+10%), and an average price per square foot of $332 (+9%).
At the start of 2024, the median days on market (DOM) was 56 days – by the end of the year, median DOM had decreased to 49 days.
Virginia Beach, Virginia started the year with 41.79% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 38.74% of homes for sale had taken a price cut.
