Chesapeake Real Estate July 2008 Sales Statistics

Chesapeake Real Estate July 2008 Sales Statistics

Residential sales in Chesapeake dropped by 7 percent in July compared to July 2007, causing the average market time to increase 24 percent, from 68 days to 84 days. The good news is, the median sales price increased 2 percent, while the average sale price increased 1 percent to $305,880.

What do these statistics mean for Chesapeake real estate buyers?

The Chesapeake real estate market has not started to stabilize and remains a great time to buy a home. Especially with the new first time home buyer incentives provided for in the Virginia Beach Real Estate: Housing & Economic Recovery Act.

Also read:
Virginia Beach Real Estate: South Hampton Roads Market Report July 2008
Virginia Beach Real Estate: South Hampton Roads Market Trends
Virginia Beach Real Estate: South Hampton Roads Market Report May 2008
Virginia Beach Real Estate: Chesapeake Market Trends June 2008

To learn more about Chesapeake real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. 

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 Statistics compiled from Real Estate Information Network. They are deemed reliable, but not guaranteed.