Chesapeake Real Estate Market Update is a weekly report of real estate market statistics. This information is for buyers and sellers that are currently in the real estate market or are thinking about getting in to the market. Since Chesapeake contains multiple zip codes this analysis may or may not be specific to your subdivision and should only be used as a tool to determine trend lines and a look at Chesapeake as a whole.
The median list price in CHESAPEAKE, VA this week is $314,200. The 1428 properties have been on the market for an average of 195 days. Inventory is tightening and days-onmarket is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices. The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Buyers and sellers should consult a Realtor for specific market updates in reference to your subdivision. A CMA (Current Market Analysis) should be done prior to putting a listing on the market or making and receiving offers. When visiting the website Chesapeake Real Estate Market Update be sure to check for your zip code, if it is not listed please contact me directly for a specific CMA.
Chesapeake Real Estate Market Update
All data was pulled from REIN and Altos Research for Chesapeake Real Estate Market Update.
Doug Wolfe, Associate Broker, Keller Williams Town Center, Dougwolfe@kw.com , www.BetterCallDoug.com
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