Greenbrier

Chesapeake, VA

Neighborhood Market Analysis

Q3 2025 Report
$385,000 (2025 estimate, varies by subarea)
Median Home Price
55-65 (varies by subarea; commercial core more walkable, residential areas less so)
Walkability Score
Generally above average; public schools are well-rated and attract families.
School Rating

Location Overview

Neighborhood Boundaries

Greenbrier is generally defined by Interstate 64 to the north, the Elizabeth River to the west and south, and extends east to include both Greenbrier East and West neighborhoods. The area encompasses the main commercial core, Greenbrier Mall, and adjacent residential communities.

Zip Codes

23320

Market Data Summary

Price Range$320,000 - $525,000 for single-family homes; $220,000 - $310,000 for condos/townhomes; apartments rent for $1,700 - $2,500/month
Price per Sq Ft$185 - $225/sq ft (2025)
Inventory LevelsModerate but tightening, especially for updated single-family homes and newer condos.

Property Characteristics

Home Types & Architecture

Home Types

Single-family detachedTownhomesCondominiumsApartments

Architectural Styles

Traditional ColonialTransitionalRanchContemporary (newer builds)

Property Details

Typical Lot Sizes0.15 - 0.30 acres for single-family homes; townhomes/condos have smaller lots or shared spaces.
Home Age Range1970s to present; most homes built 1980s-2000s, with new infill and redevelopment projects.
Construction QualityGenerally good; newer developments offer modern amenities, older homes often updated but some may need cosmetic improvements.

Community Profile

Demographics & Lifestyle

Demographics

Middle-income, diverse; higher income than 59.9% of US neighborhoods; 15.6% of children below federal poverty line; mix of professionals, families, and retirees[3].

Community Vibe

Active, suburban-urban mix; strong sense of community; busy commercial hub with quieter residential pockets.

Typical Residents

  • Young professionals
  • Families with children
  • Retirees
  • Healthcare and tech workers

Family Friendly

Yes; parks, good schools, and recreational amenities attract families.

Amenities & Lifestyle

Parks & Recreation

  • Chesapeake Arboretum
  • Oak Grove Lake Park
  • Great Bridge Lock Park

Dining Options

  • National chains
  • Local cafes
  • Ethnic restaurants
  • Fast casual

Shopping Centers

  • Greenbrier Mall
  • Crossways Shopping Center
  • Multiple strip malls and big-box retailers

Local Businesses

  • Greenbrier Mall
  • Chesapeake Regional Medical Center
  • Local boutiques
  • Fitness centers

Education & Schools

Generally above average; public schools are well-rated and attract families.
Overall School Rating

Elementary Schools

  • Greenbrier Primary
  • Greenbrier Intermediate

Middle Schools

  • Greenbrier Middle

High Schools

  • Indian River High School

Private Schools

  • Atlantic Shores Christian School
  • St. Matthew's Catholic School

Transportation & Accessibility

Transit & Roads

Public Transit

  • Hampton Roads Transit bus routes

Major Roads

  • Interstate 64
  • Greenbrier Parkway
  • Volvo Parkway

Commute & Walkability

Commute Times15-25 minutes to downtown Norfolk; 20-30 minutes to Virginia Beach; 5-10 minutes to Chesapeake business centers.
WalkabilityModerate; commercial areas are walkable, residential areas less so but improving with city plans for more sidewalks and bike paths[1][2].
ParkingAmple parking in commercial areas; residential streets and driveways sufficient, some congestion near mall during peak hours.

Marketing Intelligence

Target Buyer Types

  • Move-up families
  • First-time buyers
  • Medical professionals
  • Investors

Key Selling Points

  • Central location
  • Strong employment base
  • Diverse housing options
  • Access to amenities

Pricing Considerations

Price competitively for updated homes; highlight value vs. newer developments in nearby cities.

Common Objections & Response Strategies

Objection: Traffic congestion, especially near mall and I-64.

Response Strategy:

Highlight city’s infrastructure improvements and alternate commute routes; emphasize walkability improvements in progress.

Objection: Older homes may need updates.

Response Strategy:

Showcase recent renovations, offer repair credits, and compare value to new construction prices.

Objection: Mall area in transition/uncertainty about future development.

Response Strategy:

Share city’s redevelopment plans and potential for future appreciation; emphasize stability of surrounding residential areas.

Investment Insights

Investment Potential

Appreciation Potential

Solid, especially with city’s redevelopment plans and commercial revitalization[1][2].

Rental Demand

High, driven by proximity to employment centers and colleges.

Buyer Competition

Moderate to high for updated homes and new builds; condos/townhomes see steady demand.

Best For

  • Families
  • Young professionals
  • Investors seeking stable returns
  • Healthcare workers

Potential Concerns

  • Traffic congestion
  • Older homes needing updates
  • Mall area in transition

Professional Recommendations

1

Stay updated on city redevelopment plans and communicate these to buyers.

2

Network with local employers (healthcare, tech) for relocation leads.

3

Stage homes to highlight family and work-from-home spaces.

4

Monitor inventory closely—move quickly on well-priced listings.

5

Educate buyers on flood zones and insurance requirements.

Competitive Analysis

Comparable Markets

  • Great Bridge
  • Western Branch
  • Deep Creek

Market Positioning

Premier suburban-commercial hub with urban conveniences and strong family appeal.

Competitive Advantages

  • Central location
  • Major employment hub
  • Diverse housing stock

Price Comparison

Slightly higher than Deep Creek, lower than newer Western Branch developments; more affordable than Virginia Beach for similar amenities.

Investment Metrics

5.2% - 6.1% for single-family rentals; 6.5%+ for condos/townhomes (2025)
Cap Rates
5.5% - 6.5% gross annual yield
Rental Yields
16-18 (favorable for investors seeking long-term appreciation)
Price-to-Rent
Positive for well-priced homes, especially multi-family or updated properties.
Cash Flow
3-5% annual appreciation expected with city redevelopment and continued demand.
Appreciation

Buyer Journey Insights

First-Time Buyers

Accessible price points for condos/townhomes; FHA/VA financing common; highlight community amenities and schools.

Move-Up Buyers

Larger homes with modern features available; emphasize value vs. new construction in nearby cities.

Downsizers

Townhomes and condos offer low-maintenance living; proximity to healthcare and shopping is a plus.

Investors

Strong rental demand, especially for updated units; city revitalization supports long-term value.

Relocators

Central location and easy commutes appeal to military and corporate transferees.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

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