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Cedar Point Elizabeth Acres Green Lakes Lamper Place Manor View Mayflower Park Pine Acres Portsmouth Acres West Park Homes West Park Manor

PORTSMOUTH, VA 23701

Real Estate Market Report
Balanced Market
March 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23701

Cedar Point · Elizabeth Acres · Green Lakes · Lamper Place · Manor View · Mayflower Park · Pine Acres · Portsmouth Acres · West Park Homes · West Park Manor

Market Analysis

Data as of March 2026. Source: Realtor.com.

The PORTSMOUTH, VA real estate market (23701) currently shows 62 active listings, with 1 pending sales. Homes are averaging 26 days on the market before going under contract.

Inventory levels are unchanged compared to last year.

Homes are selling faster, averaging 26 days on market compared to 45 days last year.

The median listing price has risen 2.5% year-over-year, from $262,500 to $269,000.

Whether you are buying or selling in PORTSMOUTH, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 24,850  ·  Density: 1,242.7/mi²  ·  Median household income: $61,961

Typical home value: $200,471  ·  Homeownership: 64.8%

Market Overview

Active Listings
62
vs 62 last year
Pending
1
2% pending ratio
Median Price
$269,000
⇧ 2.5% vs $262,500 last year
Average Price
$274,542
⇩ 1.6% vs $278,930 last year
Days on Market
26
⇩ 42.2% vs 45 days last year

Price Per Square Foot

Median $/sqft
$196
⇧ 2.6% vs $191/sqft last year
Median Home Size
1,285 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Days on market: 26 now vs 45 last year

Median & Average Pricing

Year over Year
  • Median: $269,000 (+2.5% YoY)
  • Average: $274,542 (-1.6% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 10.8 miles — 571 listings ($226,966,989 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23701Portsmouth, VA 237010.0 mi60$15,952,740$260,000$265,879
23707Portsmouth, VA 237072.7 mi37$10,476,328$280,950$283,144
23704Portsmouth, VA 237043.3 mi68$17,330,412$259,700$254,859
23510Norfolk, VA 235105.1 mi39$15,795,351$298,750$405,009
23324Chesapeake, VA 233245.3 mi43$11,913,193$268,725$277,051
23517Norfolk, VA 235175.9 mi7$2,218,146$277,975$316,878
23435Suffolk, VA 234356.4 mi150$80,041,500$514,900$533,610
23323Chesapeake, VA 233237.2 mi63$30,775,311$497,450$488,497
23509Norfolk, VA 235097.7 mi29$9,998,098$284,975$344,762
23513Norfolk, VA 235139.0 mi57$17,493,471$304,450$306,903
23433Suffolk, VA 234339.5 mi10$8,196,400$656,175$819,640
23436Suffolk, VA 234369.6 mi5$5,359,700$654,900$1,071,940
23432Suffolk, VA 2343210.8 mi3$1,416,339$449,500$472,113

Frequently Asked Questions

How many homes are for sale in PORTSMOUTH, VA 23701?

As of March 2026, there are 62 active listings in PORTSMOUTH, VA (zip code 23701), compared to 62 the prior year.

What is the median home price in PORTSMOUTH, VA 23701?

The median listing price in PORTSMOUTH, VA 23701 is $269,000 as of March 2026, a 2.5% increase from $262,500 the prior year.

How long do homes stay on the market in PORTSMOUTH, VA?

Homes in PORTSMOUTH, VA 23701 spend an average of 26 days on the market before going under contract, compared to 45 days the prior year.

Is it a seller's or buyer's market in PORTSMOUTH, VA 23701?

Based on current inventory and days-on-market data as of March 2026, PORTSMOUTH, VA 23701 is currently a Balanced Market. Inventory levels are unchanged compared to last year. Homes are selling faster, averaging 26 days on market compared to 45 days last year.

How much can I save on real estate commission in PORTSMOUTH, VA?

With SELL123.com's maximum 3% commission, sellers in PORTSMOUTH, VA 23701 save an estimated $5,380 compared to a typical 5% commission on the median listing price of $269,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.