Real Estate Market Update for Suffolk, VA
Welcome to December's Market Update. Lets take a look at residential real-estate activity in your area during the month of November. The number of active listings was down 37% from one year earlier, and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 320-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 16%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 250-thousand dollars. The number of units sold decreased 14% year-over-year, and decreased 13% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for Suffolk, VA
Area Information for Suffolk, VA
  • Population: 89,356
  • Median Age: 39.32 yr
  • Median Commute Time: 27 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 223/sq mi
  • Population Change Since 2000: 40.32%
  • Closest Airport: Newport News/williamsburg International
  • Closest College: Eastern Virginia Medical School
  • Closest Jr. College: Tidewater Cmnty Cllg-fred W Beazley Cmps
  • Median Household Income: $66,428
  • Annual Residential Turnover: 12%
  • Median Home Sales Price: $222,000
  • Closest Major Sports Team: Norfolk Tides (aaa)
  • Change Avg. Household Income Since 2000: 60.53%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Suffolk, VA
Median Age: 39.32 Married: 41% Number of Households: 32,679 Households with Children: 10,840
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Suffolk, VA

      School Name Distance Type Grades School Rating Parent Rating
      Kilby Shores Elementary School 1.6 mi Public K-5 3 0
      Lakeland High School 1.6 mi Public 9-12 1 3
      Forest Glen Middle School 2.2 mi Public 6-8 2 0
      Nansemond-suffolk Academy 2.6 mi Private PRESCHOOL-12 0 0
      Fostering Innovation & Relevance (first) 2.9 mi Public - 0 0
      Pruden Center For Indus/tech 2.9 mi Public 9-12 0 0
      Turlington Woods Alternative School 3.3 mi Public 6-12 0 0
      Elephants Fork Elementary School 3.3 mi Public PRESCHOOL-5 0 0
      King`s Fork High School 4.0 mi Public 9-12 0 3
      King`s Fork Middle School 4.0 mi Public 6-8 1 0
      Booker T. Washington Elementary School 4.1 mi Public PRESCHOOL-5 0 0
      Suffolk Christian Academy 4.5 mi Private K-12 0 0
      John F. Kennedy Middle School 4.7 mi Public 6-8 1 0
      Hillpoint Elementary School 4.8 mi Public PRESCHOOL-5 2 0
      Mack Benn Junior Elementary School 5.6 mi Public PRESCHOOL-5 0 0
      Pioneer Elementary 6.8 mi Public K-5 3 0
      Nansemond Parkway Elementary School 7.4 mi Public PRESCHOOL-5 1 0
      Oakland Elementary School 7.8 mi Public PRESCHOOL-5 3 0
      Nansemond River High School 8.0 mi Public 9-12 2 3
      Driver Elementary School 9.5 mi Public 2-5 2 0
      John Yeates Middle School 10.1 mi Public 6-8 4 0
      Creekside Elementary School 12.2 mi Public K-5 1 0
      Northern Shores Elementary School 16.3 mi Public PRESCHOOL-5 3 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Suffolk, VA
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.