Is Chelsea, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Chelsea has remained a Seller's Market.
Key Takeaway
Chelsea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chelsea, MA
How much do homes in Chelsea, MA cost?
Median Sold Price
$510,000
$368/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Chelsea have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Chelsea was $510,000 in November 2023, up 0.7% from last year, and the median price per square foot was $368.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $370K | $377.5K | +2.0% |
| 2 Bedrooms | $425K | $447.5K | +5.3% |
| 3 Bedrooms | $560K | $520K | -7.1% |
| 4 Bedrooms | $650K | $700K | +7.7% |
| 5+ Bedrooms | $825K | $860K | +4.2% |
Summary: Chelsea housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 4.2%.
Housing Supply in Chelsea, MA
How many homes are available in Chelsea, MA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 51 | 48 | -5.9% |
Summary: The Chelsea real estate market had 48 homes for sale in November 2023, a 5.9% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 21 | 21 | 0.0% |
| 3 Bedrooms | 10 | 5 | -50.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The Chelsea housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelsea, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Chelsea in November 2023, up by 20.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Chelsea, MA
How long does it take to sell a home in Chelsea, MA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 38 Days | 23 Days | -40.7% |
Summary: Homes in Chelsea had an average of 23 days on market in Nov 2023, down by 40.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chelsea are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 12 homes were sold in Chelsea; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
