Virginia Beach is one of the most famous vacation spots on the east coast due the city's oceanfront location and 3-mile long boardwalk, complete with a separate bike path, summertime entertainment stages, outdoor restaurants, vendors, nautical sculptures and shops. Outside of the boardwalk, the Resort Strip offers the popular BeachStreetUSA from mid-June through Labor Day Weekend, where jugglers, musicians, characters and magicians come to entertain both tourists and locals. Virginia Beach also hosts other events like the American Music Festival, LatinFest and even the peculiar Mid-Atlantic Hermit Crab Challenge to amuse spectators. And although visitors are plenty, the city is home to 437,994 residents with a median age of 37 years old.
Entertainment options don't run short in Virginia Beach, and those looking for some excitement in the summer months might consider making a move or investing in property to rent out to vacationers during peak holidays.Real estate inventory in Virginia Beach dropped year-over-year slightly, from 2,602 listings in 2014 to 2,550 listings in 2015 - or a 2 percent decline. While the market isn't necessarily more competitive due to the drop in homes for sale, average list price increased by 8.18 percent in the same time frame. The average list price in 2014 was $313,283 and jumped to $338,922 in 2015. Consider these price figures if planning to make the move to Virginia Beach or invest in a rental property for secondary income.