23702 — Portsmouth city, Virginia Market Snapshot
Housing market data for zip code 23702 in Portsmouth city, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
52 sales in 2026 (year to date)
Median Sale Price
$243,700
Days to Sell
37
Homes Sold
52
Inventory
33
Sale-to-List
99.3%
New Listings
64
Price/SqFt
$172
Pending Sales
68
Conforming Loan Available
Most homebuyers in 23702 can comfortably use conventional financing. The median home price of $243,700 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
23702's market is balanced with homes taking an average of 37 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 23702 (99.3% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23702 can comfortably use conventional financing. The median home price of $243,700 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23702 are set at the county level.
2026 Loan Limits — Portsmouth city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23702
To purchase the median home at $243,700 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,017.
Monthly Payment
$2,017
Income Required
$86,449
Principal & Interest
$1,502/mo
Down Payment (5%)
$12,185
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23702.
Estimated Monthly Payment
$1,658
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 23702. Tell us what you're looking for.