Chesapeake

Chesapeake, VA continues to show strong performance in its real estate market. As of early 2025, the average home value is approximately $399,000, reflecting a year-over-year increase of about 5%. The median sale price ranges between $365,000 and $395,000, and homes typically sell within 30 to 37 days on market. Sale-to-list price ratios are close to 100%, indicating competitive demand. Inventory has grown nearly 20% year-over-year, offering more choices to buyers, though sellers still maintain leverage. Price per square foot ranges from $198 to $212. Popular neighborhoods include Great Bridge, South Norfolk, and Greenbrier.