Foreclosure Homes in Chesapeake, VA

Current Market Conditions in Chesapeake, VA

Chesapeake’s real estate market is currently experiencing a consistent increase in home values, driven by demand and a limited supply of available listings. The area remains attractive to both first-time homebuyers and investors, given its strategic location near major cities and military bases. Recent new constructions and community developments in the area are also adding to the vibrancy of the real estate market.

As of late 2023, the Chesapeake housing market is characterized by moderate competition, particularly in well-established neighborhoods. Homes are typically on the market for a shorter duration than in previous years, indicating a healthy appetite for property purchases in the region.

Rent Prices In Chesapeake, VA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Chesapeake, VA, is on a rollercoaster ride. The average rent price in Chesapeake, VA, is $1,886.00. Indeed, when looking to rent in Chesapeake, VA, you can expect to pay as little as $620.00 or as much as $6,600.00, with the average rent median estimated to be $1,800.00. The good news is that finding an affordable and desirable property to rent in Chesapeake, VA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.