The Virginia Beach housing market continues to exhibit strong demand and rising property values, reflecting the area’s appeal and economic vitality.
Home Prices and Sales
As of March 2026, the median sale price for homes in Virginia Beach reached $413,000, marking a 5.9% increase from the previous year. Homes are selling swiftly, with an average of 26 days on the market, indicating a competitive environment for buyers. Additionally, the number of homes sold in March rose to 484, up from 452 in the same month last year. Source
Inventory Levels
Inventory remains tight, with only 1.6 months of supply available. This limited availability strengthens sellers’ negotiating positions and creates urgency for buyers. Source
Rental Market
The rental market in Virginia Beach is also experiencing growth. As of April 2026, the average rent is $2,010, reflecting a 5.8% increase over the past year. This trend underscores the city’s desirability and the demand for rental properties. Source
Local Development
Significant developments are contributing to the city’s growth. The Virginia Beach Community Development Corporation has been instrumental in providing quality affordable housing since 1985, housing over 10,500 individuals and managing 550 properties valued at over $55 million. Source
Additionally, the opening of Atlantic Park, a $350 million surf and leisure complex, has added a new dimension to the city’s attractions, enhancing its appeal to both residents and visitors. Source
Overall, Virginia Beach’s housing market remains robust, characterized by rising home prices, limited inventory, and a growing rental sector. These trends, coupled with ongoing developments, continue to shape the city’s dynamic real estate landscape.