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AVERAGE HOME PRICES
AVERAGE HOME PRICE PER SQUARE FEET
AVERAGE HOME STATISTICS IN TERMS OF:
Source: Redfin (11/22/2023)
The City of Chesapeake is easily one of the best places to live in the state of Virginia. Placing a premium on providing an excellent quality of life for its residents, the city boasts beautiful neighborhoods, top-ranking schools, a tough approach to crime, and an unflinching dedication to preserving the natural environment. As one of the top Chesapeake, VA real estate teams, we at The Agency Coastal invite you to learn more about this fascinating city and discover why the luxury homes for sale in Chesapeake, VA deserve to be your next big real estate investment.
OVERVIEW OF CHESAPEAKE, VA
Those looking for a safe, quiet, and welcoming community will undoubtedly find Chesapeake an ideal place to live. The phrase “big city with a small-town vibe” perfectly encapsulates what Chesapeake is all about. Despite being Virginia’s second most populous city after Virginia Beach, this area still gives off the feeling of being a small town by the lake.
Chesapeake, VA history
Chesapeake became a city in 1963 with the merging of Norfolk County and the City of South Norfolk. However, its communities and landmarks have an older history than that. The city played a key role in the birth of America, making it an important historical destination.
In December 1775, during the early stages of the Revolutionary War, the site where the Chesapeake Municipal Center stands today bore witness to the Battle of Great Bridge, where British Lord Dunmore and his soldiers clashed with American forces. The British were decisively trounced, paving the way for many more victories for the American troops. More information on this historic battle is available at the Great Bridge Battlefield and Waterways Museum, located on the banks of the Intracoastal Waterway.
In 1793, work began on the Dismal Swamp Canal, an idea envisioned by George Washington. Still in service today, the said canal has become famous for being the oldest man-made waterway that’s still in operation. The canal’s completion in 1805 brought prominence to Chesapeake and turned the area into a booming commercial center. By the turn of the 20th century, Norfolk already had a post office, public schools, and waterways. More residential and commercial establishments were built, which led to South Norfolk becoming an incorporated town in 1919 and, eventually, a city in 1922.
In 1961, city and county officials saw the feasibility of a merger, with both entities approving a merger agreement in December of that year. The succeeding year, residents from both communities voted overwhelmingly in favor of the merger and decided to call the city Chesapeake in honor of the Native American tribe that once inhabited the area.
From its inception as a city, Chesapeake has evolved into a major oil storage center, complete with port facilities and inland waterways. Its strongest industries include lumber, fertilizer, cement and steel. The city as a whole offers a unique blend of urban and rural living, with top-notch schools, quality lifestyle amenities, and strong leaders who can keep the city on track to achieve its growth targets.
What is Chesapeake, VA known for?
As of 2022, Chesapeake’s population is estimated at more than 250,000. Every year, the city sees substantial population growth and continues to attract residents and investors alike. How hot is the Chesapeake, VA real estate market, you may ask? It’s so hot that new homes for sale in Chesapeake, VA sell for a little more than a month. What makes this city such an attractive real estate market? Here are just a few of the reasons.
- The perfect location
Living in Chesapeake, VA means you’re always near water, and the city has several beautiful beaches along the shores of the Indian River and Elizabeth River. Even the many creeks that empty into them have pockets of serene sandy shores ideal for sunbathing, picnicking, and frolicking in the water.
The city is also just a short 30 minutes away from the larger city that is Virginia Beach. So, if you’re craving some big-city entertainment and amenities, a drive for the day or weekend is possible.
Hampton Roads, the larger metropolitan area that Chesapeake belongs to, is known for its many tourist attractions, annual festivals, concerts, and other large-scale events. Traveling to the cities within this region is easy because of Chesapeake’s access to major highways such as the Chesapeake Expressway, Dominion Boulevard, and I-64.
- Beautiful nature abounds
Nature lovers will find their senses invigorated by the wonders that await them here. There are over 20 parks in the city, with amenities that include trails, picnic grounds, sports courts, ball fields, and water sports facilities. The trails in particular cover over 26 miles and allow for hiking, biking, jogging, and more.
If you like camping, Northwest River Park has a campground and natural horse trails. Those with kids will want to check out Fun Forest Playground which has a spacious and well-equipped playground, family adventure area, and imagination center. For the grownups, there’s an outdoor concert venue and farmer’s market that sells the freshest locally sourced produce.
- Festivals all year round
Attending festivals is, by far, among the best things to do in Chesapeake, VA. The Oyster Festival, South Norfolk Parade and Picnic, Chesapeake Jubilee, Wine Festival, Dismal Swamp Stomp Running Festival – these are just a few of the family-friendly celebrations held throughout the year in Chesapeake. Expect live entertainment, unique arts and crafts, tons of delicious food, and plenty of attractions for kids and families to enjoy.
Every Fourth of July, visitors from all over the state troop to the annual South Norfolk Parade & Picnic at the Park to watch the stunning and incredibly lengthy fireworks display. Kids will love the Chesapeake Jubilee, which includes games, carnival rides, and toys for sale. The Oyster Festival held in March treats visitors to an ocean of seafood delights.
- Excellent schools everywhere
Chesapeake is served by Chesapeake Public Schools, which has an overall grade of A- from Niche.com and is ranked fourth among the best school districts in the Norfolk area. The district has about 45 schools in all, the most noteworthy of which include the Great Bridge schools, Greenbrier Primary/Middle, Oscar Smith Middle/High, Grassfield High, and Hickory High.
Every school in the district puts a high emphasis on academic excellence and encourages students to join interest organizations to broaden the scope of their student life. The district also has a Department of School Nutrition Services which manages a school lunch program that provides healthy and nutritionally balanced meals free to students who qualify.
CHESAPEAKE, VA REAL ESTATE
The general real estate market in Chesapeake is considered competitive, with home values steadily rising on a gentle slope in the past three years with some momentary dips that recover as soon as the next month comes. The luxury real estate market also remains strong with homes for sale at this level going as high as $4 million. Buying a home in Chesapeake,
VA at the soonest time ensures a windfall of returns in the long term, given the consistent upward movement of home values here.
The community at Chesapeake, VA is relatively established, with more than half of homes here constructed between the 70s and the late 90s. A quarter of homes, meanwhile, are recent builds from as early as the turn of the new millennium. There are still some older homes in Chesapeake, though, having been built around the 40s at the earliest. Whether you’re looking for a historic home with a lot of charm or recent construction, be assured that you can find your kind of home in Chesapeake, especially with the help of a real estate expert in the area.
What to expect from luxury homes for sale in Chesapeake, VA
There are some benchmarks that define luxury homes for sale in Chesapeake, VA. The priciest homes are usually sprawling estates located by the waterfront. Architectural designs tend to stick to traditional choices such as Farmhouse, Colonial Revival, and Shingle. Interior amenities are modern but subdued. Kitchenettes and grand foyers are standard luxury fare, as are timber floors, high ceilings, and staircases with elaborate woodwork. Pools are rare in Chesapeake, VA luxury homes, given the fact that the area has several bodies of water either crossing or within its boundaries.
Popular neighborhoods in Chesapeake, VA
Chesapeake is quite a large city – the second largest in the state. It’s composed of 61 constituent neighborhoods, each with its own charm and defining characteristics. You’ll want to tap the more affluent neighborhoods if you’re shopping for luxury homes for sale in Chesapeake, VA, and there’s quite a number of them. Here are six of the best communities to go shopping for Chesapeake, VA luxury homes.
- Great Bridge
With high-ranking public schools, several beautiful parks, and proximity to shopping centers, it’s easy to see why Great Bridge is one of the most popular Chesapeake communities. This community named after the battle that occurred here is also 10 minutes away from Downtown Chesapeake. I-64 is just under 20 minutes up north. There are a number of parks and recreational facilities, including Oak Grove Lake Park and Great Bridge Lock Park. Homes in the area include townhomes, single-family homes, and luxury properties.
- Pleasant Grove
The affluent neighborhood of Pleasant Grove is a great choice for those who want spacious properties and a wonderful nature setting just outside their doorstep. Located next to the Great Dismal Swamp, it has two parks – Northwest River Park and Northwest River Natural Area – and pockets of farmland. Homes in the area range from bungalows to two-story custom homes, all built on large lots. There’s also a handful of entertainment options in the surrounding area, including Bypass 168, Big Ugly Brewery, and Cinema Cafe. For amenities, you have a Walmart, a spattering of small boutiques, and the local Setra Hospital nearby.
- Hickory
People love Hickory’s sanctuary-like feel. Nestled outside the city center close to the North Carolina border, it radiates an Old-Country atmosphere, as do the homes which comprise solely of grand luxury estates. Hickory homes boast spacious lots with lush landscaping and extra amenities such as horse stables, barnyards, and even grazing pastures. Despite its largely rural appeal, it’s still close to Chesapeake’s favorite shopping place, the Edinburgh North Shopping Center, so groceries and other retail needs are easily met.
- Greenbrier
Greenbrier is one of Chesapeake’s most populous communities. Price-wise, the homes here are more affordable. It’s divided into two sections: Greenbrier East and West. The former is more urbanized while the latter leans toward a more rural feel. In terms of housing choices, Greenbrier East is primarily made up of apartment complexes and medium-sized single-family homes, while Greenbrier West features medium to large homes. West also has its own mall, complete with big-brand stores, a go-kart track, a bowling alley, and movie theaters.
- Deep Creek
The definitive nature lover’s haven, Deep Creek takes its name from the scenic and peaceful creek that runs through it. It borders the Great Dismal Swamp and has its own 25-acre park which features well-maintained sports facilities, a dedicated dog park, picnic shelters, and walking trails. The homes here are made up of apartments and single-family houses, priced at more budget-friendly levels. Its proximity to the urbanized community of Portsmouth, VA adds to Deep Creek’s desirability.
- South Norfolk
South Norfolk, or SoNo – as locals lovingly call it – is one of Chesapeake’s oldest communities. Many of the houses here are more than a few decades old, so if you’re into historic houses, this community on the southern branch of Elizabeth River is where you want to be. That said, a recent multi-use development called The Gateway at SoNo gave the neighborhood some modern infusion with the construction of loft apartments, condo buildings, office spaces, and commercial centers. With more developments in the works, South Norfolk is an ideal match for those who want to move into a fast-growing community.
LIVING IN CHESAPEAKE, VA
Rich history, abundant wildlife, and the best of modern living – it’s no wonder why luxury homes in Chesapeake, VA are in such high demand. There’s truly something for everyone to enjoy. With that in mind, here’s what to expect from living in Chesapeake, VA.
Weather
For most of the year, the weather in Chesapeake is not too hot and not too cold, so you can go out and enjoy your favorite outdoor activities all year round. Although summers can get hot and muggy, cool winds blowing from the Atlantic Ocean can break these hot spells on occasion. In winter, snow is infrequent and extreme cold temperatures are rare. Winter temperatures range between 32°F and 41°F while in the summer months, they range between 77°F and 87°F. Average rainfall is 47 inches a year, enough to keep your red roses and wispy whites watered but not so much that you have to bring an umbrella every time you head out.
Crime rate
Given the large area covered by Chesapeake and its equally large population, it’s not surprising that some neighborhoods are safer than others. But as a whole, Chesapeake is a safe city compared to other urban areas in the Hampton Roads. If safety and security are your priority, you can inquire from your real estate agent about the gated communities here that offer 24/7 security and the utmost privacy.
Recreation
Living in Chesapeake, VA, you’ll realize that there’s no shortage of exciting activities to engage in. A good place to start is the Chesapeake Planetarium, which features exhibits displaying the wonders of the universe, as well as a powerful telescope where you can gaze at the stars. Want to savor the local flavor? Pirate’s Cove Restaurant boasts a comprehensive menu of local fish served amid a warm and homey atmosphere. If it’s an adventure you crave, you’re free to choose from numerous parks, each filled with an array of outdoor activities and amenities. A visit to the tourism website will reveal a complete list of the best things to do in Chesapeake, VA.
Transportation
Chesapeake is a unique city in the sense that it has more farmlands, wetlands, and green spaces than other urban and suburban environments. While this layout may make you think that you need a car to get anywhere, it’s actually quite possible to get around on days when you don’t feel like driving.
Hampton Roads Transit (HRT), the main bus service in the area, has eight regular routes that make various stops within the city. If you need to get to another Hampton Roads city, Greyhound and Metro Area Express (MAX) offer nonstop routes to Hampton, Newport News, Suffolk, Norfolk, and other locations. There’s also access to ride-sharing services.
Cost of living
The cost of living in Chesapeake is higher than the US average. BestPlaces.com pegs Chesapeake’s index at 103.5, with housing making the largest impact on household expenses. But the good news is that it’s still relatively affordable compared to other cities in the state and the rest of the Hampton Roads. Moreover, residents are rewarded with an excellent quality of life and top-notch community amenities that make living in Chesapeake, VA remarkably desirable.
WORK WITH THE EXPERTS ON LUXURY HOMES FOR SALE IN CHESAPEAKE, VA
Tapping into the luxury real estate market of Chesapeake, VA requires the services of someone who specializes in this niche segment. That said, our team at The Agency Coastal is here to offer you the kind of white-glove service you deserve in your real estate transaction in select areas of Hampton Roads like Chesapeake, Norfolk, and Virginia Beach.
We are a boutique real estate brokerage pairing local expertise with a vast local reach. With over 30 years of experience in the industry, we intend to share with our clients what we know in a genuine collaboration of ideas. Your real estate goals become our goals, too.
Call us at 757.434.4171 or send your message here to begin your home-buying journey in Chesapeake, VA.
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