The story of this market
The typical home in ZIP 23707 sells for about $290,000, or $182 per square foot.
Prices are up +2.8% from a year ago, so sellers still have some momentum. Homes take about 33 days to sell. HUD's fair market rent for a two-bedroom is $1,101 a month.
ZIP 23707 — Portsmouth
The 23707 housing market is currently characterized as a seller's market with a median sale price of $290,000. While prices have seen a modest year-over-year increase of 2.8%, the market faces challenges including an elevated 11.1% vacancy rate. Competition remains active with a sale-to-list ratio of 100.8%.
This ZIP code is primarily suited for local buyers and investors who are comfortable navigating a market with slower price movement and specific management requirements.
Median prices moved up 2.8% year over year.
Homes spend a median of 33 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100.8% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.6% · poverty 26.1% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 23707, Portsmouth city, Virginia
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area exhibits an 11.1% vacancy rate, which may signal weakening demand in the local rental market.
The local economy is influenced by the broader Portsmouth City industrial and maritime sectors.
Data sourced from ZCTA-level reports where available.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.