For-Sale Single-Family Detached Homes
Most new single-family detached homes in Chesapeake range from
base prices of $300,000 to $400,000 and sizes of 2,000 to 3,000 square
feet. There are few offerings over $500,000, consistent with the overall
market. Annual absorption rates (see Exhibit II-15) range from eight
units at Stony Run Manor to 54 at Jordan Hall. Culpepper Landing had
104 closings in 2013, making it the best selling in the region. Base
prices average $160 per square foot, and there is relatively little
variation between different communities and builders.
$750 000
Price-to-Size Relationship – New Single-Family Detached Units
Chesapeake, VA; March 2014
$650,000
,
$450,000
$550,000
$250,000
$350,000
1,500
2,000
2,500
3,000
3,500
4,000
The Meadows at KempBridge
Stony Run Manor
Jordan Hall
Edinburgh
Albemarle River
Chapel Hill Estates
Harbor View Neighborhoods
Culpepper Legacy Series
Culpepper Heritage Series
Culpepper The Grove
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
51
Source: Individual Project Websites; Broker Interviews; CREED
