Current Real Estate Market Trends:

Average price per square foot for Virginia Beach VA was $146, an increase of 0.7% compared to the same period last year. The median sales price for homes in Virginia Beach VA for Feb 10 to Apr 10 was $225,000 based on 696 home sales. Compared to the same period one year ago, the median home sales price decreased 2.1%, or $4,900, and the number of home sales decreased 32.3%.

The average listing price for homes for sale in Virginia Beach VA was $413,018 for the week ending May 12, which represents an increase of 0.3%, or $1,143, compared to the prior week. Popular neighborhoods in Virginia Beach include Northwest and North Central, with average listing prices of $357,611 and $495,918.

History of Virginia Beach:

The most populous city in Virginia, is located in the southeast part of the state on the Atlantic coastline. It is independent and is not part of any county.

The first English settlers to set foot in America landed at Cape Henry at the tip of Virginia Beach on April 29, 1607. They were led by Captain Christopher Newport and a rebellious John Smith, who barely avoided execution at the hands of his fellow colonists. Newport and Smith would battle for control of the new settlement, known as Jamestown, until Smith was forced back to England by the colonists two years later. The first permanent settlement within the city limits was made at Lynnhaven Bay in 1621. Cape Henry became an important port for British merchant ships calling on America, and it was here that the French fleet led by Admiral Comte de Grasse blockaded the British fleet during the American Revolution.

Virginia Beach gained its reputation as a famous vacation resort in the 19th century, following the building of a railroad connecting its oceanfront with Norfolk and the construction of its first hotel in 1883. Virginia Beach was incorporated as a town in 1906 and as a city in 1952. In 1963, Princess Anne County and Virginia Beach merged.

Tourism is a mainstay of the economy; more than 3 million people visit Virginia Beach each year. Virginia Beach’s economy is also supported by four military bases and diverse industries, including agriculture, computer software, engineering, and technical services.

Virginia Beach Area Chamber of Commerce