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South Norfolk (SoNo) South Norfolk Historic District

CHESAPEAKE, VA 23324

Real Estate Market Report
Balanced Market
March 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23324

South Norfolk (SoNo) · South Norfolk Historic District

Market Analysis

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

The CHESAPEAKE, VA real estate market (23324) currently shows 49 active listings. Homes are averaging 31 days on the market before going under contract.

Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice.

Homes are selling faster, averaging 31 days on market compared to 44 days last year.

The median listing price has risen 9.9% year-over-year, from $273,000 to $299,900.

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 Context

Market Context

Population: 22,843  ·  Density: 1,325.3/mi²  ·  Median household income: $57,636

Typical home value: $219,673  ·  Homeownership: 55.5%

Market Overview

Active Listings
49
⇧ 16.7% vs 42 last year
Pending
0
0% pending ratio
Median Price
$299,900
⇧ 9.9% vs $273,000 last year
Average Price
$296,342
⇧ 3.4% vs $286,609 last year
Days on Market
31
⇩ 29.5% vs 44 days last year

Price Per Square Foot

Median $/sqft
$197
⇧ 3.1% vs $191/sqft last year
Median Home Size
1,501 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 49 this year vs 42 last year
  • Days on market: 31 now vs 44 last year

Median & Average Pricing

Year over Year
  • Median: $299,900 (+9.9% YoY)
  • Average: $296,342 (+3.4% 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
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 10.2 miles — 640 listings ($242,470,952 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23324Chesapeake, VA 233240.0 mi43$11,913,193$268,725$277,051
23523Norfolk, VA 235232.3 mi14$4,144,252$277,500$296,018
23702Portsmouth, VA 237022.9 mi35$8,184,155$223,724$233,833
23504Norfolk, VA 235044.0 mi50$15,302,500$280,000$306,050
23707Portsmouth, VA 237074.6 mi37$10,476,328$280,950$283,144
23517Norfolk, VA 235174.9 mi7$2,218,146$277,975$316,878
23464Virginia Beach, VA 234645.3 mi64$26,882,176$405,000$420,034
23509Norfolk, VA 235095.7 mi29$9,998,098$284,975$344,762
23513Norfolk, VA 235136.5 mi57$17,493,471$304,450$306,903
23703Portsmouth, VA 237037.7 mi61$20,728,044$340,950$339,804
23321Chesapeake, VA 233218.1 mi86$38,757,018$461,000$450,663
23518Norfolk, VA 235188.7 mi83$43,524,453$417,000$524,391
23503Norfolk, VA 2350310.2 mi74$32,849,118$349,675$443,907

Frequently Asked Questions

How many homes are for sale in CHESAPEAKE, VA 23324?

As of March 2026, there are 49 active listings in CHESAPEAKE, VA (zip code 23324), compared to 42 the prior year.

What is the median home price in CHESAPEAKE, VA 23324?

The median listing price in CHESAPEAKE, VA 23324 is $299,900 as of March 2026, a 9.9% increase from $273,000 the prior year.

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

Homes in CHESAPEAKE, VA 23324 spend an average of 31 days on the market before going under contract, compared to 44 days the prior year.

Is it a seller's or buyer's market in CHESAPEAKE, VA 23324?

Based on current inventory and days-on-market data as of March 2026, CHESAPEAKE, VA 23324 is currently a Balanced Market. Inventory has increased compared to last year, with 7 more homes available — giving buyers more choice. Homes are selling faster, averaging 31 days on market compared to 44 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 23324 save an estimated $5,998 compared to a typical 5% commission on the median listing price of $299,900. 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.