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Forest Hills

CHESAPEAKE, VA 23321

Real Estate Market Report
Buyer's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
85
⇧ 23.2% vs 69 last year
Pending
2
2% pending ratio
Median Price
$452,500
⇧ 4.9% vs $431,350 last year
Average Price
$447,985
⇧ 0.4% vs $446,238 last year
Days on Market
55
⇧ 5.8% vs 52 days last year

Market Context

Population: 38,586  ·  Density: 558.9/mi²  ·  Median household income: $96,235

Typical home value: $334,259  ·  Homeownership: 76.2%

Market Analysis

Data as of January 2026. Source: Realtor.com.

The CHESAPEAKE, VA real estate market (23321) currently shows 85 active listings, with 2 pending sales. Homes are averaging 55 days on the market before going under contract.

Inventory has increased compared to last year, with 16 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 55 days on market compared to 52 days last year.

The median listing price has risen 4.9% year-over-year, from $431,350 to $452,500.

Whether you are buying or selling in CHESAPEAKE, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 85 this year vs 69 last year
  • Days on market: 55 now vs 52 last year

Median & Average Pricing

Year over Year
  • Median: $452,500 (+4.9% YoY)
  • Average: $447,985 (+0.4% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 12.1 miles — 576 listings ($248,508,065 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23321Chesapeake, VA 233210.0 mi85$38,078,725$452,500$447,985
23435Suffolk, VA 234354.1 mi135$73,078,605$517,000$541,323
23707Portsmouth, VA 237075.4 mi43$12,878,973$285,000$299,511
23704Portsmouth, VA 237046.3 mi67$16,890,700$259,900$252,100
23507Norfolk, VA 235077.9 mi21$9,285,234$250,000$442,154
23436Suffolk, VA 234368.1 mi5$5,710,700$719,450$1,142,140
23433Suffolk, VA 234338.3 mi9$7,102,143$690,000$789,127
23523Norfolk, VA 235238.6 mi12$3,965,508$330,000$330,459
23432Suffolk, VA 234328.6 mi3$1,352,901$501,950$450,967
23325Chesapeake, VA 2332510.2 mi18$5,699,880$299,999$316,660
23505Norfolk, VA 2350510.7 mi45$17,479,440$325,000$388,432
23320Chesapeake, VA 2332011.8 mi95$41,889,300$425,000$440,940
23314Carrollton, VA 2331412.1 mi38$15,095,956$342,000$397,262

Frequently Asked Questions

How many homes are for sale in CHESAPEAKE, VA 23321?

As of January 2026, there are 85 active listings in CHESAPEAKE, VA (zip code 23321), compared to 69 the prior year.

What is the median home price in CHESAPEAKE, VA 23321?

The median listing price in CHESAPEAKE, VA 23321 is $452,500 as of January 2026, a 4.9% increase from $431,350 the prior year.

How long do homes stay on the market in CHESAPEAKE, VA?

Homes in CHESAPEAKE, VA 23321 spend an average of 55 days on the market before going under contract, compared to 52 days the prior year.

Is it a seller's or buyer's market in CHESAPEAKE, VA 23321?

Based on current inventory and days-on-market data as of January 2026, CHESAPEAKE, VA 23321 is currently a Buyer's Market. Inventory has increased compared to last year, with 16 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 55 days on market compared to 52 days last year.

How much can I save on real estate commission in CHESAPEAKE, VA?

With SELL123.com's maximum 3% commission, sellers in CHESAPEAKE, VA 23321 save an estimated $9,050 compared to a typical 5% commission on the median listing price of $452,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.