Portsmouth, VA Real Estate Market
Median sale price
Named after Portsmouth, England when it was established as a town in 1752, Portsmouth became an independent city in 1858 and is situated on the western side of the Elizabeth River, directly across from Norfolk. It was recognized as an ideal shipbuilding spot by shipbuilder John Wood back in 1620. By 1767, Andrew Sprowle, another shipbuilder, created Gosport Shipyard in Portsmouth, which was rebuilt after being destroyed in the Revolutionary War and ultimately became the Norfolk Naval Shipyard. NNSY is the largest as well as oldest industrial facility of the U.S. Navy, a world-class operation where ships are built, remodeled and repaired.
Portsmouth features multiple historic sites in addition to NNSY and the Portsmouth Naval Shipyard Museum: Olde Towne, which contains one of the largest collections of historically significant buildings, including the Emanuel African Methodist Episcopal Church and the Pass House; the Hill House, built in 1825 as a four-story English basement home with a complete set of the Hill family’s original furnishings; the Commodore Theatre; the Cradock Historic District; the Confederate Monument; and the Downtown Portsmouth Historic District, along with other historic sites.
Other places of interest in Portsmouth include Woodland Park, the Bide-A-Wee Golf Course, the Triangle Center, Victory Crossing Shopping Center, Victory West Shopping Center, Portsmouth City Park, Elizabeth Manor Country Club, and the highly rated Glencoe Inn.
In 2010, the Portsmouth Cavaliers basketball team was founded and competes as a member of the American Basketball Association. ABA teams are popular throughout the Hampton Roads area.
Portsmouth’s educational system offers three public high schools: Churchland High School, I.C. Norcom High School, and Woodrow Wilson High School, along with the Fred W. Beazley Portsmouth Campus of Tidewater Community College.
Transportation options in Portsmouth include not only the shipyard and various docks, but also Norfolk International Airport, Chesapeake Regional Airport, CSX railroad, three short line railroads, I-264 and I-664, Hampton Roads Transit, and a regional bus service.
Just as Portsmouth’s transportation is diverse, so is the real estate market in the area: waterfront properties, new construction, suburban residential homes, townhomes, and various other styles of properties are found in Portsmouth.