Is Wachapreague, VA 23480 a buyer’s or seller’s market?
Wachapreague is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Wachapreague housing market right now
In the three months ending August 31, 2026, 0% of homes in Wachapreague, VA 23480 sold above their list price, the typical home went under contract in 162 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (1 days then) and the median sale price rose 50% to $364,742. Overall, Wachapreague is less competitive than a year ago, which gives buyers more room.
Within Accomack County, homes here sell more slowly than in 74% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Wallops Island 23337 (100% sold over asking) and Bloxom 23308 (50% sold over asking) are even more competitive.
Run the numbers for 23480
Nearby markets
Accomac 23301Buyer’s market $125 /sq ftAtlantic 23303 — /sq ftBelle Haven 23306Buyer’s market $103 /sq ftBloxom 23308Buyer’s market $179 /sq ft Browse all markets →Where Wachapreague is
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Questions about Wachapreague real estate
Is Wachapreague a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Wachapreague, VA 23480 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Wachapreague?
The typical home went under contract in 162 days in the latest three months.
Do homes in Wachapreague sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 100.0% of the list price.
What are property taxes in Wachapreague?
About 0.48% of a home’s value a year in Accomack County, or roughly $1,920 on a $400,000 home.
What is the median home price in Wachapreague?
The median sale price was $364,742 in the three months ending August 31, 2026, about $168 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology