Market Intelligence · VA / Portsmouth

Portsmouth, VA 23701 Housing Market

Homes in Portsmouth 23701 are worth a median of $267,085, up 2.0% over the past year. The median list price stands at $269,900, with homes taking 43 days on market.

Updated August 2026Median value$266K

The median home value in Portsmouth, VA 23701 is $266K as of August 2026, up 2.6% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 23701 range

$245K to $288K

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

+2.6% over 12 months

Typical home value in 23701 over the last 12 months: $260K in Aug 2025 to $266K in Aug 2026 (+2.6%).

Aug 2025$260K

Aug 2026$266K

The numbers

What is the 23701 housing market like?

Typical home value

$266K

Up2.6%YoY

Median list price

$270K

Up1.5%MoM

Days on market

43

Down6.5%MoM

Homes for sale

63

Down11.3%MoM

Price cuts

32.1%

Up10.5%MoM

New listings

28

Down17.6%MoM

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

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The comparison

How do 23701 home prices compare?

  • 23701$266,389
  • Portsmouth$256,727
  • Virginia$330,987
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Portsmouth: 5 ZIPs; Virginia: 757 ZIPs; United States: 26,265 ZIPs).

Context

Portsmouth 23701 has 63 homes for sale, including 28 new listings as of August 2026. The typical home value has gained 2.0% annually, suggesting a market with modest appreciation. However, 32.1% of listings have seen price cuts, indicating that some properties are taking longer to move. Homes spend a median of 43 days on market. For sellers, this combination of steady value growth alongside significant price adjustment activity suggests a balanced market where pricing strategy matters.

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20% · $53,278

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