Here’s a Birdneck Point Real Estate Market Update, June 2016.

Birdneck Point Real Estate Market Update, June 2016

As of today, there are 13 homes for sale in Birdneck Point.  This does not include the condo community on Oriole Drive near the intersection with Laskin Road.  These thirteen current listings range from a mid-century golf course home listed at $589,000 all the way to a breathtaking deep water home with a $3,350,000 asking price.

Birdneck Point Real Estate Market Update, May 2016Distressed Properties

First, let’s discuss distressed properties like short sales and bank repossessions.  Of the thirteen homes currently for sale in Birdneck Point, there is no distressed inventory.  Sorry investors – the time of opportunity has passed.

Sold & Under Contract

Now let’s talk about sold and under contract homes in June 2016.  Only three homes sold in June, and one is currently pending.

The pending sale has been on the market for a while.  It’s a massive, 1.6 acre waterfront home that is currently under contract for $1,500,000.

June’s sales included two lovely waterfront homes.  One sold for $705,000; the other sold for $1,875,000.  The third, not waterfront home, sold for $720,000.  The average sales price in June was a hefty $1,100,000.  The average number of days on market was 166.  This isn’t unusual for Birdneck Point – as I’ve said before, homes here usually take a bit longer to sell than the rest of the city.

 

Curious about those current Birdneck Point listings?  Take a look!

 

Thinking of Selling?Birdneck Point Real Estate Market Update, June 2016

If you’re thinking of selling, now is an excellent time: home prices in Birdneck Point (and the 23451 zip code in general) are moving up, up up!  Take a look at the graph on the right.  The pale green line at the top indicates home prices in 23451 – it’s much higher than the lines clustered below, which approximate Virginia Beach and the rest of the state.

The most recent median list price for homes in 23451 was $432,057 (up 7.20% since last year), indicating that list prices tend to be higher in 23451 than in the rest of Virginia Beach, where the median list price was $267,606 (up 1.40% since last year). The median list price in the Virginia Beach Metro Area was $231,378 (up 1.60% since last year).

Here is my May 2016 Real Estate Market Update for Birdneck Point.

Questions?  Comments about Birdneck Point Real Estate Market Update, June 2016?


Well, that’s the Birdneck Point Real Estate Market Update, June 2016.  2016 is predicted to be a big year for real estate in Virginia Beach – don’t miss out!

Are you thinking about selling your home and you’re not sure what your home is worth?  Thinking about buying a home for the first time but not sure about your earning power?  Contact me today for a complimentary marketing analysis of your home’s value, or to learn about the buying process.  There is no obligation, and you might be pleasantly surprised!

Katie Zarpas

Luxury Homes Specialist
Certified Real Estate Negotiator
Accredited Buyers Representative
Certified Distress Property Expert
HRRA Circle of Excellence Gold Recipient

Long & Foster Real Estate and
Christies International Real Estate
800 Laskin Road
Virginia Beach, VA 23451
757-685-4400 cell
757-428-4600 office
katie@katiezarpas.com
http://katiezarpas.com/

 

by Katie Zarpas July 25, 2016 0 comments