Home > Suffolk Real Estate Market
Winter 2020 Market Update
Average Sold Home Price: $200,000

Average Time on Market: 90-120 days

Best Selling Price Range: $150,000 - $199,000

Existing Home Prices for the past 90 days: Decreasing

Market Trend: No Change

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? No

Multiple Offers Commentary: There have been several instances with sellers getting multiple offers but mainly it is with foreclosures that we are seeing multiple offers, especially when the sales price is dropped to below market value.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 20-25%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Good Supply

Greatest Activity: First Time Buyers

Best reason to buy or sell: Population Growth

Nearest Metro Area: Virginia Beach

Housing Hot Spots: Most cities within the Suffolk City area are considered 'Housing Hotspots'

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Mortgage Rates for Jan 19th, 2020
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
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HouseHunt, Inc.
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19671 Beach Blvd. Suite 206
Huntington Beach, California 92648
1-888-832-2244
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(Because current market conditions can change rapidly in any given marketplace,
please check with Top Agent for current Suffolk, VA market conditions before acting on this information.)
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