Is Virginia Beach a Good Place to Buy a Home Right Now? The November 2026 Answer

The short answer is yes, Virginia Beach is still a good place to buy a home, and in November 2026 it is also a fairer place to buy than it has been in years. Prices are up about 7% year over year, the inventory of homes for sale across Hampton Roads is at levels not seen since 2020, and mortgage rates have eased off their fall peak. Here is the honest picture of the Virginia Beach real estate market right now, including the tradeoffs you should know before you start making offers.

The Numbers Right Now

The Virginia Beach real estate market comes in around a $430,000 median sale price over the last few months, with the average sale price near $444,000 depending on the source you read. That is up roughly 7% year over year, and homes are selling in about 28 days on average. Buyers have more to choose from than they have in years, and the region is sitting just under three months of supply, so this is not the bidding-war market of a few years ago. It is still competitive, but you no longer have to win on the first try or overpay to get in.

Why Buyers Keep Choosing Virginia Beach

What keeps people coming back is the combination you cannot get in most metro areas: miles of beach, a school division that is one of the largest and most stable in the state, a serious military presence around Naval Air Station Oceana and Joint Base Little Creek, and a job base that does not swing on one industry. Neighborhoods run the full range, from oceanfront condos to family subdivisions like Kempsville, Great Neck, and Bayside. If you are trying to figure out where to look first, my guide to Virginia Beach neighborhoods breaks down the options by price and lifestyle, and my living in Virginia Beach guide gives you the honest day-to-day picture of commutes, schools, and cost of living.

The Honest Tradeoffs

Let me be direct about the costs. Virginia Beach property taxes are $0.97 per $100 of assessed value, which runs to roughly $3,880 a year on a $400,000 home. Coastal addresses can carry flood insurance requirements, and premiums are higher in the zones closest to the water, so check the flood map before you fall in love with a house on a creek. And while price growth has slowed from the pandemic years, a median near $430,000 still puts Virginia Beach above most of Hampton Roads, which is exactly why many buyers also look at Chesapeake when they want more house per dollar.

How to Buy Smart in This Market

The buyers who do best right now get pre-approved before they tour, use the extra inventory to negotiate on repairs and closing costs, and make decisions on their own timeline instead of trying to catch the bottom of the rate cycle. Thirty-year fixed rates are still around 7.2% as of late October, and VA loans remain one of the best mortgage deals in the country for military buyers. To put it plainly, this is the kind of market where a real estate agent Virginia Beach buyers have trusted for two decades earns the commission. One client said it better than I can: "He seemed to know every neighborhood in Hampton Roads like the back of his hand, and he fights for his clients like family." My buying guide walks through the whole process step by step, from pre-approval to closing day.

The Bottom Line

If you can handle the tax bill and the flood reality at coastal addresses, Virginia Beach remains one of the most livable markets in Hampton Roads, and right now you finally have options again. Whether you are moving here on orders, upgrading for a growing family, or buying your first home, I have been a Virginia Beach realtor for 24 years and I know this town street by street. Talk soon.