The Lake Smith Terrace housing market is somewhat competitive. The median sale price of a home in Lake Smith Terrace was $520K last month, up 30.0% since last year.
What is the housing market like in Lake Smith Terrace today?
In February 2025, Lake Smith Terrace home prices were up 30.0% compared to last year, selling for a median price of $520K. On average, homes in Lake Smith Terrace sell after 16 days on the market compared to 10 days last year. There were 4 homes sold in February this year, up from 1 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$520,000
+30.0% YoY | Feb 2025
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Feb 2025
Growth
% YoY
Lake Smith Terrace, VA
$520,000
+30.0%
United States
To compare other locations to the Lake Smith Terrace and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Virginia Beach add value to a home.
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How hot is the Lake Smith Terrace housing market?
Lake Smith Terrace is somewhat competitive. Homes sell in 15 days.
0
100
65
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 12 months
Some homes get multiple offers.
The average homes sell for about 1% above list price and go pending in around 15 days.
Hot homes
can sell for about 3% above list price and go pending in around 7 days.
Learn about schools in the Lake Smith Terrace area
Elementary
Middle
High
GreatSchools Rating
No elementary schools in this region.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Lake Smith Terrace housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Lake Smith Terrace.
Flood Factor - Minor
9% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Lake Smith Terrace has a minor risk of flooding. 26 properties in Lake Smith Terrace are likely to be
severely affected
by flooding over the next 30 years. This represents 9% of all properties in Lake Smith Terrace. Flood risk is increasing slower than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Lake Smith Terrace has a moderate risk of wildfire. There are 1 properties in Lake Smith Terrace that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Lake Smith Terrace.
100% of properties are at severe
risk of a severe wind event over the next 30 years
Wind Factor
Lake Smith Terrace has a Severe Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Lake Smith Terrace is most at risk from hurricanes. 520 properties in Lake Smith Terrace have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 128 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 140 mph.
100% of properties are at extreme
risk of heat over the next 30 years
Heat Factor
Lake Smith Terrace has an extreme risk from heat. This is due to
"feels like" temperatures
increasing, and because 100% of homes in Lake Smith Terrace have an Extreme Heat Factor®.
Lake Smith Terrace is expected to see a 114% increase in the number of days over 104ºF over the next 30 years. Lake Smith Terrace is expected to experience 5