January's First-Time Homebuyer Report for Portsmouth

With 95,535 residents, Portsmouth is the 10th-most populated city in Virginia. Also, with a 4.6% decrease over the last 10 years, its population is shrinking slower than other parts of the state. Its three largest zip codes are 23703, 23701, and 23704. It should be noted that at 53.8%, most people own their homes in Portsmouth. The top school in the city is Moyock Elementary School.

Price Range

The median value of homes in Portsmouth is $134,800, making the area almost identical to others in Virginia. At the same time, the average list price of available homes is presently $143,345. The homes with the highest value are in 23510, 23703, and 23707. The Portsmouth market slowed with an 18.9% sales drop in this week's report. Overall sales numbers for the last 30 days remained below the 122.0 monthly average with 99 homes sold.

Curious as to which homes have been getting the most attention in Portsmouth? These listings have stirred up interest and produced the most views:

$170K   $259K   $119K  

Typical Dwelling

The typical dwelling in Portsmouth is a three-bedroom detached home worth about $136,910. To purchase a similar home, a buyer with good credit and a $27,382 cash down payment could obtain a mortgage with a 3.95% interest rate and a $737 monthly payment. The property tax rate is $12.48 per $1,000 of taxable assessed value.

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


Data reported through 1/12/2017

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