Suffolk, VA Home Values & Market Trends
Real estate market trends reflect that there have been 1,890 transactions over the past year in Suffolk. The median value for residential home transactions that occurred over the previous year is $343,091.03. The number of current listings in Suffolk is 190, and the percentage of properties for sale in the city is 190.00%. Suffolk, VA currently has 39 properties in foreclosure, 8 bank owned properties, 31 properties headed for auction, and 190 properties for sale.
Suffolk, VA Real Estate Market Overview
Housing Market Summary for Suffolk, VA
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $367K | $328.4K | -10.53% |
| Median Sold Price | $314.9K | $328.4K | 4.28% |
| Homes For Sale | 180 | 189 | 5.00% |
| Homes Sold | 800 | 847 | 5.88% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Suffolk, VA
Browse Homes in Suffolk, VA
Suffolk home values range from $19,210 to $23,765,383. The median estimated value of a home in Suffolk is $343,091.03. The median list price of a home is 382,450, and the total count of properties in the city is 32,850.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Suffolk, VA with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 7 zips within Suffolk, VA; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Suffolk, VA ranges from the highest value of $208,192 in 23438 to the lowest value of $147,150 in 23434. Bank owned homes and properties account for 0.02% of properties in Suffolk, VA. There are 7 zips within Suffolk, VA; 23434 containing 5 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions23434 has 22 auction properties, the highest number of properties going to auction in a single zip in the state of Suffolk, VA. Auction homes and other auction properties account for 0.09% of all properties in Suffolk, VA. There are 7 zips within Suffolk, VA; of those zips, the median estimated home value for homes going to auction ranges from $447,164 in 23432 to the lowest value of $70,210 in 23432.
Compare Nearby Cities
More Real Estate Resources for Suffolk, VA
Guide for Suffolk, VA
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A glance at the real estate market in Norfolk, Virginia, highlighting rising property values, increasing desirability, and trends in nearby cities.
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The property market in Virginia Beach, VA, has generally seen an increase in property values, per square foot values, and sold prices from 2022 to 2023. Factors such as economic growth and societal changes may contribute to this upward trend.
