“Ashley and Dawn were amazing working with us, they helped us negotiate on our home and made sure to handle everything. They answered all of our questions no matter big or small it may have seemed”
Momentum Real Estate
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*Sales data is calculated based on transaction information available to Agent Pronto at the time of publishing and may not accurately reflect all transactions for a given agent.
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Lake Smith Terrace real estate Market Report.
Information and statistics on the latest trends in the Lake Smith Terrace real estate market. *
Latest Rolling 3-Month Snapshot
Jul 1, 2026 - Sep 30, 2026
Median sale price
$475K
-4.5%
from Q2 '26
Median list price
$520K
+0.9%
from Q2 '26
Active listings
7
-36%
from Q2 '26
Homes sold
3
-57%
from Q2 '26
New pendings
3
-57%
from Q2 '26
New listings
3
-57%
from Q2 '26
Quarterly Pricing Trends for Lake Smith Terrace
Rolling three-month data ending on quarter boundaries when available.
Median sale price
Median list price
Quarterly Pricing Trends for Lake Smith Terrace
Rolling three-month data ending on quarter boundaries when available.
Median sale price
Median list price
Quarterly Pricing Trends for Lake Smith Terrace
Rolling three-month data ending on quarter boundaries when available.
Median sale price
Median list price
Quarterly Inventory and Sales Activity for Lake Smith Terrace
Rolling three-month supply and activity totals for the selected period.
Active listings
Homes sold
New pendings
New listings
Quarterly Inventory and Sales Activity for Lake Smith Terrace
Rolling three-month supply and activity totals for the selected period.
Active listings
Homes sold
New pendings
New listings
Quarterly Inventory and Sales Activity for Lake Smith Terrace
Rolling three-month supply and activity totals for the selected period.
Active listings
Homes sold
New pendings
New listings
23
Seller’s Market
Seller’s Market
Buyer’s Market
0
20
40
60
80
100
0
25
50
75
100
Market gauge is calculated using active listings and pending sales from the most recently available reporting period (Jul 2026 - Sep 2026).
Home prices in Lake Smith Terrace have eased in the most recent rolling three-month view, with the typical home value down sharply from a year ago even as it remains higher than in some prior periods. Compared with the broader Virginia Beach area, where prices are up year over year, this neighborhood is seeing softer pricing alongside a typical home value around the mid-$400,000s.
Listing and sales activity has cooled notably. Homes sold, new listings, and pending sales are all down markedly from a year ago in this rolling three-month period. Inventory has expanded, with months of supply more than doubling year over year.
Properties are also taking much longer to go under contract, with median days on market rising steeply compared with last year. Sellers have seen leverage shift, as no homes in the latest period sold above list price and the average sale-to-list ratio has dipped below 100 percent. Even with these shifts, Lake Smith Terrace still shows a slight seller’s market reading, while Virginia Beach overall has leaner supply. Buyers sorting through these changing conditions and sellers aiming to price correctly can both benefit from Agent Pronto’s help connecting with a local real estate agent who understands this market.
Learn more about what Lake Smith Terrace has to offer.
Lake Smith Terrace offers residents a welcoming, family-friendly atmosphere with tree-lined streets, easy access to parks and waterways, convenient nearby schools and shops, a strong sense of community, and a peaceful, safe place to call home.
Lake Smith Terrace offers a relaxed, practical lifestyle in Virginia Beach, where day-to-day routines revolve around the water, nearby parks, and easy access to city conveniences. Many homes enjoy views of Lake Smith itself, and residents often start the day walking dogs along quiet streets or launching a kayak from a nearby access point before commuting to central Virginia Beach or Norfolk.
Outdoor time is a big part of life here. The tree-lined shoreline and proximity to Lake Smith/Lake Lawson Natural Area make it easy to fish, paddle, or explore trails without leaving the neighborhood’s orbit. Families appreciate nearby schools such as Bayside High School and the programs at Bayside Recreation Center. Daily errands are straightforward, with grocery options and casual dining along Virginia Beach Boulevard and Independence Boulevard, plus quick connections to I 64 and I 264 for regional commutes.
On weekends, residents often branch out to the Virginia Beach Town Center for restaurants and entertainment or visit First Landing State Park for hiking and beach access, then return to the quieter, residential feel of Lake Smith Terrace.
Whether you are selling a long-time home by the lake or searching for a place that balances calm surroundings with everyday convenience, a knowledgeable local agent can make all the difference. Agent Pronto connects both buyers and sellers with the right Lake Smith Terrace expert to guide each step.
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“Jasmine was AMAZING!! Attentive, well informed, and VERY PROFESSIONAL! Best Customer Service Support I’ve experienced in ages! The rest of team as well went above and beyond to help get me my new home. Every question was answered quickly and accurately. They made sure there were no unexpected surprises. All deadlines were explained and met. EXCELLENT AND JOB WELL DONE!!!”
Iron Valley Real Estate Hampton Roads
“Highly responsive - from initial request to closing was about five weeks, 5 weeks and I'm sitting in my new home writing this review! William was friendly, helpful and flexible. Not only did he show up on time and get back to me on my home searches quickly, he answered my questions on time and actually, in a thoughtful way, I could tell he cared for my well being when choosing a new home. I would absolutely recommend William Mallory, we will definitely be using him again in the future!”
Iron Valley Real Estate
“Kristina Price was so helpful, kind, was willing to explain anything I had questions about and supportive for my first home buying experience. She was also willing to back me up and give me honest and constructive information on the homes i was looking to buy. I would highly suggest her for anyone buying a home!”
EXP Realty
“Joel was absolutely exceptional in the process of selling our property. He was friendly, communicative, and very knowledgeable of the market and the area we were listing. We had a horrific experience with our previous realtor, ultimately resulting in the house being on the market for 4 months with no offers. Joel suggested small improvements/things to boost curb appeal, connecting us with professional stagers and photographers. And, after listing were under contract in only 2 weeks. Even during the pending sale time we still had regular communication with Joel on updates, and he was able to connect us seamlessly to professionals we needed for updates/picra items. We cannot recommend him enough!!!”
A Better Way Realty Inc.
“Erika was extremely knowledgeable of the process and areas that we went to For the purchase of the house. She would do regular check ins and see how I was doing with the process.”
The Hogan Group
“Hope and the CapCenter team are THE BEST in Hampton Roads! I will never work with anyone else. Hope made my first home buying experience in 2023 as smooth and seamless as possible. I purchased sight unseen (which is terrifying), but Hope's knowledge of the area and guidance helped me find the cutest townhouse in a great location. This year we purchased our second property and Hope was nothing short of amazing. She fights for her clients, always puts them first and answers any and all questions. If we ever have to leave Hampton Roads, I'm going to need Hope to get licensed wherever we move because I can't imagine buying a home without her.”
CapCenter
“Jordan was phenomenal is working with me and my timeline. He worked around what my family needed and kept me up to date about the whole home buying process. His knowledge of the local area really helped when finding a home in the school districts that I wanted.”
VA Realty Professionals
“Sara Andrews Hart is a professional realestate agent who deeply cares about her clients and works tirelessly on their behalf. Communication is an exceptionally strong suit as realestate transactions are multifaceted and can be complicated. She navigates challenges that arise and has a plethora of resources to handle them; therefore, allievating much stress for home sellers. She is highly recommended.”
The Real Estate Group
“We sold our condo for a good price in a slow market. Our realtor, David, kept the deal alive when it didn't seem like it was going to come together. The buyers wanted to close in 3 weeks and required a mortgage, so a tight schedule, but he played a major role in making it happen, knowing what needed to be done and following up constantly with all involved. He is knowledgeable, enthusiastic, responsive and a pleasure to work with. I did not know David before he helped us to list our condo, but I would be happy to choose him again.”
Long & Foster Real Estate Long and Foster
“I just closed on my house today. Tracy has been patient with the whole process with me through some bumps in the road. In the whole process she has kept in touch till I was ready and when I was she jumped into action always had my best interest first. I will always appreciate that and always will use her again if I ever want to sell or buy!!! She is the best there is!!!!”
1ST CLASS REAL ESTATE FLAGSHIP
“I’ve purchased two properties with Mike and both experiences were extremely smooth. Even after going through the homebuying process once, there’s still a lot to remember, but he made everything simple and stress-free. The first time I worked with him, I felt like all I needed to do was follow the process, he handled everything with professionalism and clarity. That’s why I felt confident choosing him again for my second home purchase. I ask a lot of questions because I’m still learning about homes, materials, and maintenance, and he always took the time to explain things thoroughly. His knowledge and ability to break things down in a way I could understand really helped me feel more confident in my decisions. During home tours, he gave honest, constructive feedback without ever trying to sway me. He supported my decision-making while helping me stay grounded and avoid emotional choices. His communication was excellent, and he kept me updated throughout the entire process. I also appreciated his guidance when reviewing counteroffers, he explained everything clearly and made sure I understood my options. Toward the end of my second purchase, I worked with Anastasia as well, and she was great. Overall, both experiences were smooth, organized, and completely stress-free. I would definitely work with him again for future purchases.”
NAS Real Estate Professionals
“Samantha was absolutely amazing from start to finish! She communicated well, was always available, and did a great job coordinating showings around my schedule. She made me feel like I was her only client and was always looking out for my best interest. She negotiated very well and is extremely knowledgeable about the market. I highly recommend her to anyone looking for a realtor who truly cares about her clients!”
Iron Valley Real Estate Norfolk
“Jessica did an OUTSTANDING job with selling our house. She made it her mission to sell our house fast and she did just that. Her level of expertise on every topic in the real estate field is remarkable! She was involved greatly at every level, had great communication with us on the process, and negotiates like her life depends on it. There are not enough words to express how truly thankful I am for her. She really made a lasting impact on my family. I definitely recommend!!!”
Iron Valley Real Estate
“We had a wonderful experience working with Dariya! She was professional, kind, patient, and always ready to help. She answered all our questions, guided us through the entire process, and made everything much easier and less stressful. We truly appreciate her work and support and would highly recommend her to anyone looking for a great realtor!”
LPT Realty
“Kara is great! She has sold 2 properties for me. From beginning to end she keeps you updated during the whole process. She goes above and beyond to help you by getting contractors to fulfill any inspection problems to negotiating a reasonable sale price. She has also helped me in purchasing a home. Either way, I trust Kara's knowledge and expertise in any real estate transaction and always making the effort to find the answers. Thank you Kara for all of your help.”
Sotheby's International Realty Atlantic
“Debbie has great local knowledge and can recommend great people for services for your home. She has a great personality and we enjoyed spending time with her. She is definitely on your side with negotiations and contracts. She knows her stuff!! Highly recommend.”
DM
The Real Estate Group
“Oh my goodness! This process was as smooth as a home purchase could be but it’s all due to the wonderfulness of Lyz Wilson!! She definitely made this more pleasurable and exciting than stressful. She is extremely knowledgeable and responsive which I love because I had billions of questions and her patience is Barre none!! We definitely felt like we had an advocate on our side as opposed to someone who didn’t care. I have made not only a new realtor but a friend! She and her team are amazing and I would use them time and time again!!! Thank you Lyz Wilson for ALL of your dedication to my family in this process, you rock!!!”
VA Realty Professionals
“Jen was amazing to work with. We live out of state and she was very thorough with our virtual walk throughs and showings and very honest. We found a great home. We really enjoyed working with Jen.”
Iron Valley Real Estate Norfolk
“Jeremy and Basia were very engaging and knowledgeable. This was my first time selling a home. They were instrumental in the overall success of the home being sold. It was a learning experience for me to see just how much is involved throughout the entire process. Jeremy with suggesting the starting listing price and the slight adjustment based on traffic and interest of perspective buyers. Basia was very interactive in-home showings scheduling and sharing of all interested parties’ opinions or comments related to the home. This was very helpful, and a huge benefit to keep the property from lingering too long on market. I would recommend Jeremy and Basia to all I knew that would need a great real estate agent. Great teamwork! Very polite and supportive. A difficult task that was challenging but with a satisfying outcome. Very thankful.”
Exit Realty Professionals
Frequently Asked Questions
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There are more than 2 million real estate agents across the U.S., and you want to be sure the one you partner with is an experienced and trustworthy professional with strong local expertise covering the housing market in and around Lake Smith Terrace. Working with a proven agent will help you sell your home faster and for more money, and help you find your dream home at the best possible price.
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Choosing a real estate agent to help you buy or sell property is one of the most important decisions you’ll make in your lifetime. You want to make sure your agent is an expert in your area, has a proven record helping people buy and sell similar homes to yours, and is well regarded by their previous clients. Let us know a few details about the property you are selling or the kind of home you want to buy, and Agent Pronto will match you with trusted real estate agents that have the experience you need. And before you interview an agent, check out our top five questions to ask a buyer’s agent and listing agent.
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We consider performance metrics, close rates, specialties, and client reviews to qualify the best full-time agents. We then take the information you provide about the home you are selling or the kind of home you want to buy, and analyze the top local agents with the right experience for your specific needs. For more than a decade, we've helped hundreds of thousands of home buyers and sellers find the right agent. Get started now and find the perfect real estate agent.
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No. Agent Pronto is a free service for home buyers and sellers and you are under no obligation to work with our recommended agents. Find your Lake Smith Terrace Realtor® or real estate agent today.
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