Suffolk Real Estate

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Suffolk, Virginia
Average Home Sizes and Asking Prices

Updated On: January 20, 2020
Zipcode Single Family Home Townhome or Condo
4 BR 3 BR #Lst 3 BR 2 BR #Lst
23432 2,800 sf $423,000 28
23433 3,100 sf $405,000 3
23434 2,500 sf $311,000 1,700 sf $206,000 308 1,400 sf $137,000 1,100 sf $111,000 22
23435 2,700 sf $391,000 2,000 sf $305,000 162 1,900 sf $228,000 1,300 sf $153,000 46
23436 3,400 sf $442,000 5
Updated on:   January 20, 2020

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Suffolk Real Estate Information in Virginia

The rich, fertile land of Suffolk has long been a primary part of the lifestyle in this region. Early Native Americans lived off of the production of the land and later English settlers built their community around the Nansemond River. Today, Suffolk’s 430 square miles of wooded, rolling hills traversed by natural lakes and rivers still delight its 82,000 residents.

In addition to being Virginia’s largest city, Suffolk is one of the state’s 40 independent cities. Situated 20 miles southwest of Norfolk, Suffolk is bordered by Isle of Wight County and the city of Portsmouth. This area is known as the Hampton Roads region, named after the Hampton Roads Harbor, which lies northeast of Suffolk. Hampton Roads is the world’s largest natural harbor and was the birthplace of the British Colonies.

In their spare time, residents use the many local waterways to participate in a variety of water sports. Golf is also popular, as are hiking, picnicking, bicycling and bird watching. The Great Dismal Swamp National Refuge is an active site for nature lovers, and history enthusiasts enjoy the array of local sites and museums.

Students in grades K-12 are served by Suffolk City Public Schools as well as several private school options. Several colleges and universities are within driving distance for those who wish to obtain a degree in higher education. Real estate options in Suffolk consist of single-family detached homes, estate properties, townhouses, condominiums and land lots.

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Suffolk, VA Real Estate Market – Price Range of Suffolk Houses for Sale

The neighborhoods of Suffolk are expansive and lush. Large, clean colonial homes with brick accents pepper the region and demonstrate the community’s pride in its culture and history. Home styles available include colonial, traditional, transitional, ranch and contemporary. Suffolk homes can be found under $100,000. Beautiful large homes with spacious wooded lots, golf course frontage, swimming pools, fireplaces and community clubhouses range in the $300,000s. Expansive Suffolk area estate properties in planned communities with multiple fireplaces, water frontage, private ponds, water views and wooded lots of considerable acreage in rural areas are priced from the high $500,000s to more than $2 million. Most residential properties in Suffolk, both new construction and existing homes in new home subdivisions, are priced below $400,000. There is also a selection of undeveloped land and lots, many of which have waterfront views or other amenities. Offering residents a resort-like lifestyle, Suffolk is within a short driving distance to the beach. Retirement communities and homes near military bases are also available at affordable prices. Prices range depending on size and location. Suffolk also has listings for Suffolk area condos and townhouses with prices starting from under $60,000 to upwards of $400,000.

Suffolk Real Estate Stats and Trends for the week of January 20th, 2020: homes priced around $304,894 compared to $304,894 the previous week, to remain steady with no change in listing price.  For Sunday, January 19th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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