Chesapeake, VA 23322 Real Estate Market Report

ZIP Code: 23322
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Chesapeake, VA (23322) is characterized by a median sold price of $556,500, reflecting a robust demand despite some fluctuations in transaction activity. The neighborhood has increased 8% since 2022, indicating a positive trend in property values. This appreciation is noteworthy as it suggests a strengthening market, although the median days on market stands at 168, indicating a slower sales velocity that may impact liquidity for sellers.

The current market conditions reveal elevated inventory levels, with a notable gap between the median listing price of $584,950 and the median sold price. This discrepancy may suggest pricing friction, where sellers may need to adjust expectations to align with buyer sentiment. Additionally, the median market rent is at $3,000, indicating strong rental demand, which could further influence buyer interest in the market.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price of $556,500 indicates a strong market trend, having increased 8% since 2022.

2. With a median days on market of 168, the market is experiencing slower sales velocity, which may affect liquidity for sellers.

3. The median listing price of $584,950 suggests potential pricing friction compared to the sold price, indicating sellers may need to adjust expectations.

4. Elevated inventory levels suggest excess supply relative to sales activity, which could lead to a more balanced market.

5. The median market rent of $3,000 reflects strong rental demand, potentially influencing buyer interest in purchasing properties.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.