Is Chestertown, 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, Chestertown has remained a Seller's Market.
Key Takeaway
Chestertown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chestertown, MD
How much do homes in Chestertown, MD cost?
Median Sold Price
$332,100
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chestertown have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Chestertown was $332,100 in May 2024, down 0.6% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $257.4K | -17.0% |
| 3 Bedrooms | $320K | $315K | -1.6% |
| 4 Bedrooms | $430K | $350K | -18.6% |
| 5+ Bedrooms | $332.4K | $421.9K | +26.9% |
Summary: Chestertown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes increased by 26.9%.
Housing Supply in Chestertown, MD
How many homes are available in Chestertown, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 76 | +13.4% |
Summary: The Chestertown real estate market had 76 homes for sale in May 2024, a 13.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 15 | 13 | -13.3% |
| 3 Bedrooms | 32 | 40 | +25.0% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Chestertown 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 decreased by 13.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chestertown, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Chestertown in May 2024, down by 18.8% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Chestertown, MD
How long does it take to sell a home in Chestertown, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 44 Days | +57.8% |
Summary: Homes in Chestertown had an average of 44 days on market in May 2024, up by 57.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chestertown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Chestertown; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
