Chesapeake Real Estate Market Update July 24,2013

Chesapeake Real Estate Market Update is a weekly report of real estate market statistics. This information is for buyers and sellers that are currently in the real estate market or are thinking about getting in to the market. Since Chesapeake contains multiple zip codes this analysis may or may not be specific to your subdivision and should only be used as a tool to determine trend lines and a look at Chesapeake as a whole. The median list price in CHESAPEAKE,VA this week is $298,900. The 1125 properties have been on the market for an average of 142 days. Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues. Buyers and sellers should consult a Realtor for specific market updates in reference to your subdivision. A CMA (Current Market Analysis) should be done prior to putting a listing on the market or making and receiving offers. When visiting the website Chesapeake Real Estate Market Update be sure to check for your zip code, if it is not listed please contact me directly for a specific CMA. Chesapeake Real Estate Market Update All data was pulled from REIN and Altos Research for Chesapeake Real Estate Market Update. Doug Wolfe, Principal Broker, Town Real Estate Group, doug@tregva.com, www.BetterCallDoug.com Chesapeake Real Estate Market Update, Chesapeake Real Estate, Chesapeake Virginia Home Search, Chesapeake Home Search