Market Intelligence · VA / Portsmouth

Portsmouth, VA 23701 Housing Market

The typical home value in Portsmouth's 23701 ZIP is $264,653, up 3.1% over the past year. The median list price stands at $289,700, with homes typically selling in 28 days as of September 2026.

Updated September 2026Median value$265K

The median home value in Portsmouth, VA 23701 is $265K as of September 2026, up 3.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 23701 range

$243K to $286K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+3.1% over 12 months

Sep 2025$257K

Low $257KHigh $265K

Sep 2026$265K

The numbers

What is the 23701 housing market like?

As of September 2026

Typical home value

$265K

3.1%YoY

Median list price

$290K

7.3%MoM

Days on market

34.9%MoM

Homes for sale

11.1%MoM

Price cuts

18.6%

42.2%MoM

New listings

64.3%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

23701 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23701 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 23701 rose 3.1%, per the Zillow Home Value Index.

Will home prices drop in 23701?

Zillow's forecast does not call for a drop: it expects typical home values in 23701 to rise 2.0% by September 2027, after a 3.1% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 23701 home prices compare?

23701$264,653
Portsmouth$253,815
Virginia$328,255
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Portsmouth: 5 ZIPs; Virginia: 757 ZIPs; United States: 26,262 ZIPs).

Context

Portsmouth's 23701 ZIP had 56 homes for sale as of September 2026, with 46 new listings entering the market that month. The median days on market of 28 suggests reasonable buyer interest, though 18.6% of listings carried a price cut. The modest annual appreciation of 3.1% reflects a steady but measured market. For sellers, this is a balanced environment where pricing strategy matters.

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Down payment20% · $52,931

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Common questions

What people ask us.

What is the typical home value in Portsmouth 23701?

The typical home value is $264,653, up 3.1% over the past year as of September 2026.

How long do homes typically stay on the market in 23701?

The median days on market is 28 as of September 2026.

What share of homes in 23701 have had price cuts?

As of September 2026, 18.6% of listings had a price cut.

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