Is Chesapeake Beach, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chesapeake Beach has remained a Seller's Market.
Housing Prices in Chesapeake Beach, MD
How much do homes in Chesapeake Beach, MD cost?
Median Sold Price
$497,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chesapeake Beach was $497,000 in May 2024, up 30.3% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215K | $249.9K | +16.2% |
2 Bedrooms | $325K | $340K | +4.6% |
3 Bedrooms | $352.5K | $392.4K | +11.3% |
4 Bedrooms | $539K | $557.5K | +3.4% |
5+ Bedrooms | $675K | $675K | 0.0% |
Summary: Chesapeake Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Chesapeake Beach | $381.5K | $497K | +30.3% |
North Beach | $370K | $430K | +16.2% |
North Beach | $368.2K | $415K | +12.7% |
Housing Supply in Chesapeake Beach, MD
How many homes are available in Chesapeake Beach, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 45 | +25.0% |
Summary: The Chesapeake Beach real estate market had 45 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 10 | 16 | +60.0% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Chesapeake Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Chesapeake Beach in May 2024, the same as the previous month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Chesapeake Beach, MD
How long does it take to sell a home in Chesapeake Beach, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 15 Days | -15.2% |
Summary: Homes in Chesapeake Beach had an average of 15 days on market in May 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Chesapeake Beach; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.