Are Home Values Rising or Falling in Virginia Beach? Here’s the 2025 Update

by Megan Luker, REALTOR® | VA Beach | Real Broker LLC

National headlines say prices are up in half the country and down in the other half. Here’s how the housing market in Virginia Beach compares, with local stats every buyer and seller should know.

If you’ve read the latest housing headlines, you’ve probably seen some conflicting takes.

And when you zoom out, it makes sense why: a new Zillow report found that in half of the country’s largest metros, home values rose over the past year — and in the other half, they fell.

So today, we’re breaking down what’s happening nationally and, more importantly, how it compares to what we’re seeing right here in Virginia Beach real estate.

🏠 National Market Trends

At the national level, home values have barely moved, rising just 0.2% over the past year.

Here’s how it breaks down:

Home values rose in 25 major markets, especially in the Midwest and Northeast. Cleveland (+4.7%) and Hartford (+4.5%) led the gains.
Home values fell in 25 others, concentrated in the South and West. Tampa (-6.2%), Austin (-6%), and Miami (-4.6%) saw the steepest declines.

Other key takeaways nationally:

27.4% of listings saw price cuts — the highest since tracking began in 2018.
Homes linger longer: the national median is now 60 days on market, the slowest pace for July in over a decade.
Mortgage costs are down slightly, about $19 per month less than last year, but still nearly $1,000 higher than before the pandemic.

That means affordability remains tough — even in places where buyers technically have the upper hand.

📈 What’s Happening in Virginia Beach

National trends don’t always tell the full story. Here in Virginia Beach, the local market is holding much stronger than many Sun Belt metros.

According to Zillow, the average home value in Virginia Beach as of fall 2025 is $413,481, up 1.8% year-over-year.
Redfin reports the median sale price around $405,000, up 6.6% year-over-year.

Homes here aren’t sitting nearly as long as the national median:

Days on market: ~26–28 days (vs. 60 nationally)
Median selling price (REIN MLS): $368,900, up 4.7% year-over-year
Months of supply: ~2.1 months, still a low-inventory market

🔍 What It Means

That combination of low supply and steady demand means Virginia Beach is still a seller’s market — but a more balanced one than in 2021–2022. Price growth has cooled, yet well-priced homes continue to attract strong offers, often within a few weeks.

🤝 What It Means for Buyers

Nationally, buyers are seeing more homes sit longer and more price reductions.

In Virginia Beach, that’s less the case — but the shift toward balance is starting to open up more opportunities.

If you’re looking to buy in 2025:

Watch for price reductions. Even if the share is smaller than the national 27%, some sellers are adjusting.
Get pre-approved early. Homes that are priced right still move fast.
Don’t assume national “price drop” headlines apply here. The local data shows continued strength.

💰 What It Means for Sellers

The national data is clear: homes that are overpriced are sitting, while those priced right are still selling.

In Virginia Beach, we’re seeing that in real time. According to local MLS data, well-priced listings often go under contract in 3–4 weeks, while overpriced homes linger beyond 45–60 days.

If you’re planning to sell this winter or spring:

Price competitively from the start. Overpricing leads to stagnation.
Make your home shine online. High-quality photos, video tours, and floor plans help listings stand out.
Be flexible. Even in a strong local market, buyers are data-driven and have options.

🧭 The Bottom Line

As Zillow economist Kara Ng said, “Perhaps more than ever, whether it’s a good time to buy depends on where you live.”

Nationally, the housing market is split. But locally, Virginia Beach real estate continues to show steady growth and resilience.

For buyers, patience and preparation pay off. For sellers, pricing and presentation determine who wins in this market.

If you’re thinking about making a move in 2025, let’s talk through your neighborhood stats — not just the headlines.

📊 Local FAQ

Q: Is Virginia Beach still a seller’s market in 2025?
Yes — though it’s softening slightly, inventory remains low at around 2.1 months of supply, keeping sellers in control.

Q: Are Virginia Beach home prices expected to drop?
Forecasts show mild growth (+1–2%) over the next 12 months, not a decline.

Q: How long are homes taking to sell?
Most go pending in 3–4 weeks, much faster than the 60-day national median.

Thinking about making Virginia Beach your home? Explore local neighborhoods, discover the latest listings, or get a free home valuation to see what your home could be worth in today’s market. Call me at 757-703-1590 or DM me on Instagram @virginiabeachwithmegan.

Written by Megan Luker, REALTOR® | Virginia Beach Military Relocation Expert, Navy Wife & Mom
Licensed REALTOR® in the Commonwealth of VA at ΓEA⅃ Broker, LLC
📱 757-703-1590 (direct) | ☎️ 855-450-0442 (office)
📍 1765 Greensboro Station Place, 900 McLean, VA 22102
📧 megan@lukerativegroup.com