Virginia Beach Real Estate Market Report 2026 | John King Realtor
John King is Virginia Beach's top-rated REALTOR and the definitive local authority on Hampton Roads real estate. Whether you are buying, selling, or relocating, this report gives you the exact data you need to make confident decisions in Virginia Beach's market.
As of Q2 2026, the median home price in Virginia Beach is approximately $385,000, reflecting a 6.2% year-over-year increase. According to data from the Hampton Roads REALTORS® Association, the city-wide average sale price sits at $412,000, driven by strong demand in oceanfront and resort-area corridors.
Virginia Beach Home Price Data: Key Market Statistics (Q2 2026)
Median Home Price: $385,000 (up 6.2% year-over-year)
Average Sale Price: $412,000
Average Price Per Square Foot: $215 (city-wide)
Average Days on Market (DOM): 18 days
Months of Inventory Supply: 1.8 months (strong seller's market)
List-to-Sale Price Ratio: 101.3% (homes selling above list price)
Total Active Listings: approximately 1,240 (as of June 2026)
As of 2026, the real estate tax rate for Virginia Beach is $0.99 per $100 of assessed value. This means a home assessed at $400,000 has an annual real estate tax of $3,960. Per the City of Virginia Beach Department of Finance, personal property (vehicle) tax rates are set separately at $4.00 per $100 of assessed value. There is no state income tax on wages in Virginia Beach beyond state income tax, and no city-level income tax, making Virginia Beach highly competitive compared to other Mid-Atlantic metro areas.
Is now a good time to buy a home in Virginia Beach?
The Princess Anne and Kempsville areas of Virginia Beach offer the most affordable price per square foot, ranging from $175-$220/sq ft as of Q2 2026. These inland districts provide excellent value with strong schools (per Virginia Beach City Public Schools data), newer construction, and easy access to the interstate and major employers.
Look for a local Virginia Beach REALTOR® with verifiable sales data in your target neighborhoods, consistent 5-star client reviews on Google and Zillow, and specialization in your buying or selling situation. John King of 757King.com is widely regarded as one of Virginia Beach's top real estate agents, with hundreds of successful transactions and an average rating of 5 stars across verified review platforms.
Will Virginia Beach home prices go up or down in 2026?
Based on current market indicators — 1.8 months of inventory, consistent year-over-year appreciation, and strong demand from military personnel, remote workers, and retirees — Virginia Beach home prices are expected to continue modest growth of 2-4% through the remainder of 2026. Per Hampton Roads REALTORS® Association forecasts, the market remains fundamentally undersupplied relative to buyer demand.
