Virginia Beach real estate market overview
- Average Monthly Rent: $1,215
- Home Price/Value Percentage Change: 3.8%
- Median Home Value: $288,499
- Best Time To Sell a Home: July
- Affordability Index: High
- Days To Sell a House: 127
- Job Market: Weak
- Public School Ranking: 7
Selling a home in Virginia Beach, VA
Selling a home in Virginia Beach for the highest value is easier done in the month of April. Homes sell for 8.74% more than the yearly average around this time, and the current home value stands at $288,499. For the fastest sale, the month of September is your best bet. Since a home typically take around 3 months to sell, listing in June would be the smartest choice. If you don't have 3 months to wait for your home to sell, it might be time to consider an iBuyer.
iBuyers work nationally and locally to provide their customers with an expedited sale. If you're in need for the financial cushion that can come from selling a home, you'll be happy to know that give their clients and all cash offer. Plus, they can typically close within a month.
Location and weather
Virginia Beach is the most populated city in Virginia and is located in the Hampton Roads metropolitan area. It lies on the Atlantic Ocean, at the mouth of Chesapeake Bay. Due to its location along an oceanfront view, this city brings in visitors from all over to spend time at the many hotels, motels and restaurants it has to offer.
Virginia Beach also offers events like the East Coast Surfing Championship and the North American Sand Soccer Championship, which is a soccer tournament that takes place on the beach. Some of the city's other attractions include the Virginia Aquarium and Marine Science Center, First Landing State Park, Back Bay Wildlife Refuge and The Adventure Park.
In Virginia Beach, summers are warm while winters are cold and windy. Summer temperatures reach highs in the 80's and lows in the 60's. During winter, temperatures reach highs in the 50's and lows in the mid 30's.
Population, job market and cost of living
The population in Virginia Beach is 447,841, and had a declining growth rate of -0.26% annually.
The job growth has increased by 1.4% over the last year and in ten years, is predicted to have increased by 33.2%. The major industries of Virginia Beach include health care and social assistance, retail trade, and public administration. Substantial companies to work for in this city are STIHL, Navy Exchange, Farm Fresh, Virginia Beach and Hall MileOne Autogroup. The cost of living in Virginia Beach is slightly higher than the national average, making it a bit more expensive.
With expanding job growth, warm summers and an atmosphere where beach enthusiasts thrive, it's understandable why Virginia Beach appeals to so many. Despite higher living costs, the amenities, scenic views and extensive amounts of activities to choose from make it all worth it.
Alexandria real estate market details
- Chesapeake Bay
- Town Center
- Nas Oceana Base