If you need assistance, please call 757-563-3448

Market Updates and Real Estate Advice

Friday, July 15, 2022   /   by Anna Paduhovich

Market Updates and Real Estate Advice

APRE Blog Header FINAL.png


Market Update

Friday Jul 15 2022

This week the median list price for Virginia Beach, VA is $420,000 with the market action index (MAI) hovering around 68 (indicating a strong seller's market).

However, this is less than last month's market action index of 74. Inventory has increased to 523, which is somewhat expected in this housing climate.

The market has been cooling over time and prices plateaued for a while. 

Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Key Takeaways

Inventory is slightly rising, which means more options for buyers,  but it also remains a great time to sell. If your listing your home, you can expect a little more haggling from the buyers side, as people will try to take advantage of the press on the market starting to slow down nationwide.  We keep on moving, though, so stay focused on your priorities, not the news. 

Home Value Estimator

Around Town

 

Eat, drink, and salsa the night away at the Norfolk Latino Music & Food Festival on Saturday, July 23, 2022 from 4pm to 10pm at Town Point Park along the Downtown Norfolk Waterfront!

 

Come out and support church missions Saturday July 16th at our monthly Flea Market!! Vendor spaces are 10' x 10' for $12. Setup starts at 7 am, you provide tables and chairs. More Info HERE

 

July 17th - The 2022 VBLA Ocean Swim Series 3K or Mile Swim is the second of three races on the VBLA Ocean Swim Series Calendar. More info and sign up HERE



Anna Paduhovich Team
911 First Colonial Rd Suite 201
Virginia Beach, VA 23454
757-563-3448
Keller Williams Coastal Virginia
1100 Volvo Parkway, Suite 200
Chesapeake, VA 23320

©2024 REIN, Inc. Information Deemed Reliable But Not Guaranteed. The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc, (REIN) and has authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

©2024 REIN. REIN's listings data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copyright or alteration of. or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

REIN update its listing on a daily basis. data last updated: June 20, 2024

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.

Some or all of the listings (or listings data) represented in this application have been enhanced with data not provided by REIN. The enhancements are as follows: Property Description, Property Photos. The source of these enhancements are: Google, Zillow, Trulia, etc.

This website does not include information on all the properties available for sale at this time.
This site powered by CINC: www.cincpro.com