Chesapeake Real Estate Market Report - Chesapeake City, Virginia
Chesapeake, Virginia - Chesapeake City
| Market Commentary Provided by The Hampton Roads Team If you can qualify, now is an exceptional time to buy a home in Chesapeake. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 757-535-4451 |
| Report Date | Fall 2009 |
CONNECT WITH A LOCAL PROFESSIONAL 
The Hampton Roads Team
Hampton Roads Team at Keller Williams Realty Virginia Beach, Virginia 757-535-4451 info@livinghamptonroads.com Agent Home Page  |
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| Nearest Metro Area | Norfolk | ||||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||||
| Average Time on Market | 60-90 days | ||||
| Market Trend | Decreasing | ||||
| Housing Inventory | Good supply - Some Prices | ||||
| Average Home Price | $250,000 - View Graph Trend | ||||
| Best Selling Price Range | $200,000 - $249,000 | ||||
| Worst Selling Price Range | $350,000 - $399,000 | ||||
| Compared to Last Year | Down 5-10% | ||||
| Prices As % of Asking Price | 85-90% | ||||
| Multiple Offers? | No | ||||
| Greatest Activity | First Time Buyers | ||||
| Buyer Activity for the past 90 days in Chesapeake is | Increasing | ||||
| Seller Activity for the past 90 days in Chesapeake is | Increasing | ||||
| Is Financing Available For Qualified Buyers in Chesapeake? | Yes | ||||
| Existing Home Prices for the past 90 days are | Decreasing | ||||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 40-45% | ||||
| Housing Hot Spots | Most cities within the Chesapeake County area are considered 'Housing Hotspots' | ||||
| Reason to Buy/Sell | Good economic news | ||||
| Average Sold Price | $250,000 - View Graph Trend | ||||
| National Real Estate Market | |||||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... |
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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)
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