The typical home value in
Portsmouth
is projected to be
$254,850
for the month of
September.
August’s
finalized data reported the typical value of a home in the
city
to be
$259,900—down
1.92%
over the previous 12 months.
For comparison,
metro-level
data pegged home values at
$374,000
in
the Virginia Beach, VA metro area
for the most recent reporting period.
That number is expected to float around
$376,000
in
September.
Portsmouth
had
170
new listings and
195
listings that went under contract in
August,
decreasing
the area’s total available inventory to
345—down
10.62%
from the previous month. Inventory is projected to have further
decreased
in
September.
Of those
345
active listings,
30.72%
reduced their price in the month of
August.
The median listing price for homes in
Portsmouth
grew
2.23%
from
July
to
August,
bringing the current median listing price to
$275,000.
Based on projected data for
September,
listing prices may continue to
grow.
The number of days that homes have been on the market prior to going under contract
fell
year-over-year. In
August 2025,
the median time for a listed property to go pending was
41
days, compared to
52
days in
August 2024.
In recent months the median number of days from listed to pending appears to be steady.
That trend is predicted to have carried through to this
September.