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Real estate in Virginia Beach’s Lake Smith Terrace neighborhood.

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Agent Pronto analyzes transaction data, agent specialties, and client reviews to handpick the best agents in your area. Updated for July 2026. *


* 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

Mar 1, 2026 - May 31, 2026

Median sale price
$497K
-14% from Q1 '26
Median list price
$511K
-6.3% from Q1 '26
Active listings
11
+10% from Q1 '26
Homes sold
7
No change from Q1 '26
New pendings
6
-25% from Q1 '26
New listings
5
No change from Q1 '26

Quarterly Pricing Trends for Lake Smith Terrace

Rolling three-month data ending on quarter boundaries when available.

Quarterly Pricing Trends for Lake Smith Terrace Q2 '21 Q2 '22 Q2 '23 Q2 '24 Q2 '25 Q1 '26 Median sale price in Apr 2021 - Jun 2021: $511K Median sale price in Jul 2021 - Sep 2021: $397K Median sale price in Oct 2021 - Dec 2021: $445K Median sale price in Jan 2022 - Mar 2022: $403K Median sale price in Apr 2022 - Jun 2022: $435K Median sale price in Jul 2022 - Sep 2022: $462K Median sale price in Oct 2022 - Dec 2022: $498K Median sale price in Jan 2023 - Mar 2023: $408K Median sale price in Apr 2023 - Jun 2023: $439K Median sale price in Jul 2023 - Sep 2023: $438K Median sale price in Oct 2023 - Dec 2023: $538K Median sale price in Jan 2024 - Mar 2024: $350K Median sale price in Apr 2024 - Jun 2024: $451K Median sale price in Jul 2024 - Sep 2024: $438K Median sale price in Oct 2024 - Dec 2024: $462K Median sale price in Jan 2025 - Mar 2025: $489K Median sale price in Apr 2025 - Jun 2025: $498K Median sale price in Jul 2025 - Sep 2025: $570K Median sale price in Oct 2025 - Dec 2025: $513K Median sale price in Jan 2026 - Mar 2026: $575K Median list price in Apr 2021 - Jun 2021: $410K Median list price in Jul 2021 - Sep 2021: $439K Median list price in Oct 2021 - Dec 2021: $420K Median list price in Apr 2022 - Jun 2022: $450K Median list price in Jul 2022 - Sep 2022: $515K Median list price in Oct 2022 - Dec 2022: $457K Median list price in Jan 2023 - Mar 2023: $425K Median list price in Apr 2023 - Jun 2023: $453K Median list price in Jul 2023 - Sep 2023: $465K Median list price in Oct 2023 - Dec 2023: $405K Median list price in Jan 2024 - Mar 2024: $350K Median list price in Apr 2024 - Jun 2024: $423K Median list price in Jul 2024 - Sep 2024: $425K Median list price in Oct 2024 - Dec 2024: $465K Median list price in Jan 2025 - Mar 2025: $525K Median list price in Apr 2025 - Jun 2025: $555K Median list price in Jul 2025 - Sep 2025: $525K Median list price in Oct 2025 - Dec 2025: $515K Median list price in Jan 2026 - Mar 2026: $545K Apr 2021 - Jun 2021 Median sale price $511K Median list price $410K Jul 2021 - Sep 2021 Median sale price $397K Median list price $439K Oct 2021 - Dec 2021 Median sale price $445K Median list price $420K Jan 2022 - Mar 2022 Median sale price $403K Median list price Unknown Apr 2022 - Jun 2022 Median sale price $435K Median list price $450K Jul 2022 - Sep 2022 Median sale price $462K Median list price $515K Oct 2022 - Dec 2022 Median sale price $498K Median list price $457K Jan 2023 - Mar 2023 Median sale price $408K Median list price $425K Apr 2023 - Jun 2023 Median sale price $439K Median list price $453K Jul 2023 - Sep 2023 Median sale price $438K Median list price $465K Oct 2023 - Dec 2023 Median sale price $538K Median list price $405K Jan 2024 - Mar 2024 Median sale price $350K Median list price $350K Apr 2024 - Jun 2024 Median sale price $451K Median list price $423K Jul 2024 - Sep 2024 Median sale price $438K Median list price $425K Oct 2024 - Dec 2024 Median sale price $462K Median list price $465K Jan 2025 - Mar 2025 Median sale price $489K Median list price $525K Apr 2025 - Jun 2025 Median sale price $498K Median list price $555K Jul 2025 - Sep 2025 Median sale price $570K Median list price $525K Oct 2025 - Dec 2025 Median sale price $513K Median list price $515K Jan 2026 - Mar 2026 Median sale price $575K Median list price $545K
Median sale price
Median list price
* Data provided by Redfin, a national real estate brokerage.
18
Seller’s Market
Seller’s Market
Buyer’s Market
0
25
50
75
100

Market gauge is calculated using active listings and pending sales from the most recently available reporting period (Mar 2026 - May 2026).

Home values in Lake Smith Terrace have cooled slightly in the latest rolling three-month view, with the typical home value essentially flat year over year while list prices show only a modest uptick. Compared with the broader Virginia Beach market, where prices are up more clearly, this neighborhood is seeing more of a pause than a surge.

Inventory and listing activity are tight. Active listings are down compared with a year ago and new listings have dropped sharply over the same period. Months of supply has fallen to well under one month, well below the Virginia Beach average, signaling that available homes are being absorbed quickly.

Buyer and seller behavior reflects this mix of moderating prices and very low supply. Homes are taking longer to sell than a year ago, but the current median of 19 days on market still points to relatively brisk activity for well-priced properties. A smaller share of homes is selling above list price and the average sale-to-list ratio sits just under 100 percent, suggesting buyers have gained a bit of leverage without deep discounts becoming common. With homes sold up year over year even as pending sales trend lower, conditions are nuanced, and both buyers and sellers can benefit from Agent Pronto’s help in finding an experienced local agent to navigate Lake Smith Terrace’s shifting 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.

Find your Lake Smith Terrace real estate agent today →


Trusted by over 500,000 buyers and sellers.

See why so many people rely on Agent Pronto to make their real estate journey a success.

“Working with William Mallory was a real pleasure. From our very first meeting, his professionalism and dedication were front and center. He took the time to truly understand our needs, navigated every step of the process . William is communicative, and a true expert in his field. I would strongly recommend working with William”

Frederic Six · Norfolk, VA

Photo of William Mallory
Iron Valley Real Estate
“Debbie not only helped us find exactly what we were looking for, and where, but she helped us set up the sale of our previous house, and helped us negotiate consecutive closing dates as well as a possession maintenance period of our previous house in order to make our move easier. Having now worked with her on a sale and a purchase, plus her having done wonders for other family members, we would recommend her to anyone looking to purchase a home.”

Robert Pervere · Coinjock, NC

DM
The Real Estate Group
“As a first-time homebuyer, working with Catherine was an amazing experience from start to finish. She was incredibly patient, knowledgeable, and always took the time to explain each step of the process in a way that made everything feel manageable and stress-free. Catherine was always responsive, professional, and truly had our best interests at heart. She made what could have been an overwhelming experience feel exciting and smooth. We couldn't have asked for a better person to guide us through our first home purchase and would highly recommend her to anyone-especially first-time buyers.”

Catherine Melendez M. · Chesapeake, VA

Photo of Catherine Kowalsky
Berkshire Hathaway BHHS RW Towne Realty
“Ms. Sara was amazing! Many problems arose during the sales process. Ms. Sara never let any of that set us back, she had a solution for everything. She responds in a timely manner and she exhausts every option possible. I never felt confused or upset throughout the process because she made it as smooth as she possibly could.”

LaTrell J. · Virginia Beach, VA

Photo of Sara  Andrews Hartz
The Real Estate Group
“Our previous agent insisted that we find a different agent who was more familiar with the Hampton roads area after spending almost 3 months on the market. Rhodonna was highly recommended to us by a family friend, we heard so many great stories about her working hard on the buying and selling side. Once we were dropped by our previous agent, we then decided to reach out to Rhodonna and she agreed to represent us with no hesitation. She came in immediately casting vision for the staging of the home, targeting of potential buyers, and ensuring that we would walk away from the table satisfied. She fully agreed with us on our desirable outcome and worked very hard until it was done. In about 1 month, despite a tough market, Rhodonna had us under contract. Her follow up and follow through with the potential buyers that ended up purchasing our home was very professional and ideal for desired representation in an agent. We highly recommended Rhodonna! Hard worker, master negotiator, & closer!!”

André Allen · Chesapeake, VA

Photo of Rhodonna Boyd
Iron Valley Real Estate HR
“Our realtor Jessica Estrada is top-notch - she goes above and beyond in everything she does. She showed up numerous times to help our property be ready to sell and did whatever it took. Our house sold within two months due to her ads and persistence. Because of her, our house closed on time. She is knowledgeable, experienced, professional, and teaches others in her group. We are so thankful for Jessica.”

Elizabeth I. · Suffolk, VA

Photo of Jessica Estrada
Iron Valley Real Estate
“Deb Kelly did a fantastic job!”

Jeannine L. · Hampton, VA

Photo of THE KELLY TEAM
RE/MAX CAPITAL
“Kimberly and Holly were very personable and professional. They were very informative. They guided us through this cumbersome and tedious process. They both were great to work with and kept us abreast with what we needed to do to sell our home. We are most grateful to work with them. They know what it takes to sell a house!”

Derald E P. · Newport News, VA

Photo of Kimberly Plourde
EXIT Realty Central
“Mark was a great person to work with. I found him to have a high level of integrity and I would not hesitate to recommend Mark or use him again if conditions warranted. Mark was a pleasure to work with and I feel that he placed my requirements above his, a wonderful representation of a professional realtor and individual. Highly recommended!!”

Edward M A. · Chesapeake, VA

Photo of Mark Spear
Samson Properties GREEN TREE REAL ESTATE
“Because I was trying to do a long distance short sale, I needed someone who really knew what they were doing. I was given the name and number of Colin. He took on the challenge and a little over two years later, we finally closed. If you have done a short sale before, it is a very trying ordeal! Colin took good care of the house, had repairs done, and always had clients waiting in line with a new contract. I believe it was the 5th contract and a lot of patience that got us to closing.”

Denise W. · Norfolk, VA

Photo of Collin McDowell
eXp Realty LLc

Frequently Asked Questions

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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