ZIP 23704 Daily Housing Market & Real Estate Update (Portsmouth, VA)
23704 – February 24, 2026 – Mortgage rates are near 6%, while 23704 pricing stays firm and inventory is mixed. Here’s today’s quick snapshot.
ZIP 23704 (Portsmouth, Virginia) is heading toward spring with mortgage rates easing and local pricing holding up, but signals vary depending on whether you look at sold data or broader home-value indexes.
Top takeaways
- Mortgage rates: Freddie Mac’s 30-year fixed rate averaged 6.01% (Feb 19), helping affordability versus last year.
- Prices (sold): Recent closed-sale trends show a mid-$260Ks median, with year-over-year gains on Redfin’s January data.
- Inventory: Active listings look moderate (roughly 80–110 homes depending on the source and snapshot date).
- Rentals: Asking rents are hovering around $1.5K/month in most ZIP-level summaries.
Market snapshot (last 30 days of available reporting)
Pricing: Redfin shows a median sale price around $266K for January 2026 in 23704, up about 10.8% year-over-year. Realtor.com’s ZIP overview also places the median listing price in the mid-$260Ks (data shown through late 2025 for some charts). Zillow’s home value index (ZHVI) for 23704 is lower (around $225K) and showed a down year-over-year change through December 2025, which can differ from sale-price medians because it’s a model-based value index rather than closed-sale pricing.
Speed: Redfin indicates homes are selling in roughly ~50 days on average, while Zillow’s ZIP page shows a ~41 day median time to pending (both are market-speed indicators, but based on different datasets and definitions).
Inventory: Realtor.com currently shows around the mid-80s active homes for sale, while Zillow’s end-of-December 2025 snapshot showed 111 for-sale inventory. If you’re shopping, that usually means you can be selective on condition and layout, but the best-priced, move-in-ready homes can still go quickly.
What’s for sale nearby (no addresses)
- Entry-level options: Zillow’s current 23704 results include some lower-priced condos and fixer-uppers (sub-$100K to under-$200K).
- Core move-in range: Many single-family homes appear clustered around $190K–$300K, where inspections and repair negotiations can matter most.
- Larger homes and small multi-family: There are also listings pushing into the mid-$300Ks to $400Ks+ in the ZIP.
Local ServiceXTC pros (real-estate-adjacent)
No verified ServiceXTC provider pages surfaced for ZIP 23704 in our current directory pull today. If you are a local inspector, roofer, HVAC tech, plumber, electrician, or remodeler serving 23704, getting listed helps buyers and sellers find you during peak season.
Sources
- Freddie Mac PMMS (weekly mortgage rate release)
- Realtor.com ZIP 23704 market overview and active listings
- Redfin ZIP 23704 housing market trends
- Zillow ZIP 23704 home values and inventory snapshot
- Zillow ZIP 23704 homes for sale search results
What are you seeing right now in 23704: more price cuts, more competing offers, or buyers waiting for rates to drop further?