Price Cuts Low in Portsmouth City Real Estate Market

There were 99 homes sold in the Portsmouth City market over the last 30 days. During the same period, the number of price reductions fell to their lowest level since last January at 158. During the same time frame, Virginia Beach City had the most of any other neighboring county with 291 price reductions. Potential buyers should note that prices went up in Portsmouth City, with the median for this period rising from $140,000 to $141,020. Despite the decrease in price reductions, there are still seven months of inventory left, meaning that Portsmouth City is still a solid buyer's market.

If a home with lots of bedrooms is what you want, then be sure to take a look at these listings in Portsmouth City:

$695K   $315K   $294K  

Get started right now by checking out Portsmouth City homes for sale or reviewing Portsmouth City real estate trends.

Demographic facts about Portsmouth City:

  • The percentage of the population who rent their homes is 37.6%.
  • The 10-year growth projection for this area is 33.6%.
  • The student-to-librarian ratio is 336:1. (803:1 = national average)

Data reported through 1/12/2017

Comments:

Ask a local expert about this area:
Southerland Real Estate Inc.
Snapped 3 homes in this area
CENTURY 21 Nachman Realty
Snapped 2 homes in this area
Christopher Jordan Inc
Snapped 2 homes in this area

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