Portsmouth Real Estate Market Hits Price Cuts Low

Price reductions have decreased in the Portsmouth market, reaching a low that hasn't been seen since last January. With the market tightening, there were 99 homes sold over the last 30 days. In comparison, Virginia Beach led all other nearby municipalities with 291 price reductions. The median sales price rose to $141,020, up from last week's $140,000. Despite the decrease in price reductions, there are still seven months of inventory left, meaning that Portsmouth is still a solid buyer's market.

Make sure you take a look at these eye-catching homes in Portsmouth that generated the most views from potential buyers:

$170K   $259K   $119K  

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

Demographic facts for Portsmouth:

  • The population here is 95,535.
  • The area's safety rating is 54. (Scale: 1 = Worst, 100 = Best)
  • The average work commute is 27 minutes.

Data reported through 1/11/2017

Comments:

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Rose & Womble Realty Company
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CENTURY 21 Nachman Realty
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CENTURY 21 Nachman Realty
Snapped 3 homes in this area

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