Here’s my Bay Colony Real Estate Market Update Summer 2016.

Bay Colony Real Estate Market Update Summer 2016

Bear with me, because a lot of this Bay Colony Real Estate Market Update Summer 2016 is going to be instant replay.  As of today, there are 20 homes for sale in Bay Colony in Virginia Beach (including my own listing at 1308 Rolfe Lane).  Bay Colony’s current listings range in price from little cottages selling for $443,000 all the way to 6000 square foot waterfront villas selling for $2,650,000.

Here’s a peek at those current listings in Bay Colony:

Distressed Properties

1117 Chumley, currently under contract in Bay Colony

1117 Chumley Rd, currently under contract in Bay Colony

First, let’s discuss distressed properties like short sales and bank repossessions: out of 16 listings in Bay Colony, I couldn’t find any.  That’s amazing, considering that Hampton Roads was filled with short sales and bank foreclosures just a few years ago.  This year’s lack of distressed properties might be the surest sign yet of the region’s real estate market recovery.


Sold & Under Contract

Five Bay Colony homes sold in May and June, and two homes are currently pending.  The least expensive home sale during this time was a brick ranch on Bay Colony Drive that sold for $500,000; the most expensive Bay Colony sale was a large, waterfront brick colonial which sold for $1,720,000.  The average home price during this time was $841,000.  The average length of time to sell a home in Bay Colony was 91 days.

The most expensive under contract Bay Colony home right now is pending at $799,000; the other is my listing on Rolfe Lane at $600,000.

Curious about North End properties too?  Take a Look!


Questions?  Comments about this Bay Colony Real Estate Market Update Summer 2016?

Bay Colony Real Estate Market Update, April 2016

That’s my Bay Colony Real Estate Market Update Summer 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!

P.S. Here’s a peek at my Bay Colony listing on Rolfe Lane.  To see other available properties, check out my Youtube Channel.

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

by Katie Zarpas July 26, 2016 0 comments