23320 — Chesapeake city, Virginia Market Snapshot
Housing market data for zip code 23320 in Chesapeake city, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
255 sales in 2026 (year to date)
Median Sale Price
$375,000
Days to Sell
24
Homes Sold
255
Inventory
130
Sale-to-List
100.2%
New Listings
307
Price/SqFt
$218
Pending Sales
281
Conforming Loan Available
Most homebuyers in 23320 can comfortably use conventional financing. The median home price of $375,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
Homes in 23320 are moving quickly at 24 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 23320 (100.2% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23320 can comfortably use conventional financing. The median home price of $375,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23320 are set at the county level.
2026 Loan Limits — Chesapeake city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23320
To purchase the median home at $375,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,023.
Monthly Payment
$3,023
Income Required
$129,563
Principal & Interest
$2,311/mo
Down Payment (5%)
$18,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23320.
Estimated Monthly Payment
$2,471
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