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Featured local agent — Portsmouth, VA
Sarah Mitchell
Compass Real Estate · Portsmouth, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Portsmouth, VA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$290,000median sale price
How is the Portsmouth, VA housing market right now?
The median home sale price in Portsmouth, VA is $290,000, up 6.8% year-over-year. Homes sell in an average of 33 days with 293 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Portsmouth a buyer's or seller's market?
Portsmouth, VA is currently a seller's market, based on 1.8 months of supply and homes selling in about 33 days. How we determine this →
Homes sold
160
Last 12 weeks
Days on market
33
Average pace
Active listings
293
1.8 months supply
Sale-to-list
99.6%
Below asking
What does the Portsmouth housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $290,000 |
| Median list price | $299,000 |
| Year-over-year price change | +6.8% |
| Average days on market | 33 days |
| Active inventory | 293 listings |
| Months of supply | 1.8 months |
| Sale-to-list price ratio | 99.6% |
| Median price per sq ft | $181/sq ft |
| Homes sold (latest month) | 160 |
| New listings (latest month) | 168 |
| Listings with a price cut | 25.9% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Portsmouth by property type?
How the Portsmouth, VA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $299,950 | $188/sq ft | 128 | 32 days |
| Condo / Co-op | $189,900 | $185/sq ft | 15 | 56 days |
| Townhouse | $225,000 | $164/sq ft | 7 | 22 days |
Source: Redfin · Updated monthly
The Portsmouth housing market is currently classified as a seller's market with a median sale price of $290,000. Prices have risen 6.8% compared to last year, with homes spending an average of 33 days on market, indicating 1.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.6x provides context for how home values compare to local earning capacity.
Homes for sale in Portsmouth
There are currently 293 homes listed for sale in Portsmouth, Virginia. The median listing price is $299K.
Active listings
293
Homes on market
Median list price
$299K
Avg. days on market
33
Days until sale
New this week
168
Newly listed
Who lives in Portsmouth?
Population
97,299
Median income
$58,972/yr
Median age
35.8 years
Owner-occupied
56.9%
College grads
23.2%
Avg commute
23 min
Source: U.S. Census Bureau ACS
What are homes worth in Portsmouth?
Zillow home value
$269,835
Zillow rent index
$1,617/mo
Price-to-rent ratio
13.9x
Price-to-income
4.6x
Source: Zillow Research
What is it like to live in Portsmouth?
Portsmouth is a community of approximately 97K residents with a median age of 35.8 years.The median household income is $58,972, which represents a working-class community with solid middle-income opportunities. 23.2% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 56.9%, showing a blend of owner and renter-occupied properties. The average commute time is 23 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Portsmouth offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Portsmouth?
23 schools tracked · 13,161 students
The largest public schools serving Portsmouth, VA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Churchland High
Grades 9-12 · 1,452 students
Manor High
Grades 9-12 · 1,167 students
I.C. Norcom High
Grades 9-12 · 1,027 students
Churchland Middle
Grades 7-8 · 840 students
Churchland Elementary
Grades K-6 · 760 students
Waterview Elementary
Grades K-6 · 614 students
Simonsdale Elementary
Grades K-6 · 609 students
Cradock Elementary
Grades K-6 · 606 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Portsmouth, VA?
Want a head-to-head view? Compare Portsmouth side-by-side with any other U.S. city using our market-comparison tool.
Is Portsmouth a good real estate investment market?
For investors evaluating Portsmouth, the price-to-rent ratio of 13.9x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 6.8% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Portsmouth's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Portsmouth's median home price.
Frequently asked questions
What is the average home price in Portsmouth?
The median home sale price in Portsmouth is $290,000, up 6.8% from last year.
How long do homes stay on market in Portsmouth?
Homes typically spend 33 days on market before going under contract.
What is the median income in Portsmouth?
The median household income is $58,972 per year.
Is Portsmouth a buyer's or seller's market?
With 1.8 months of supply, Portsmouth is currently a seller's market.
What is the Zillow home value estimate for Portsmouth?
The Zillow Home Value Index (ZHVI) for Portsmouth is $269,835, representing the typical home value in the area.
What is the median condo price in Portsmouth?
The median condo/co-op sale price in Portsmouth, VA is $189,900, compared to $299,950 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Portsmouth?
The median single-family home price in Portsmouth, VA is $299,950 (about $188 per square foot).
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