Is Chesapeake Beach, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Chesapeake Beach has remained a Seller's Market.
Key Takeaway
Chesapeake Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Chesapeake Beach, MD cost?
Median Sold Price
$419,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Chesapeake Beach have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Chesapeake Beach was $419,000 in August 2023, up 16.4% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $232.4K | -7.0% |
| 2 Bedrooms | $331K | $325K | -1.8% |
| 3 Bedrooms | $332.7K | $364K | +9.4% |
| 4 Bedrooms | $570K | $549.9K | -3.5% |
| 5+ Bedrooms | $625.5K | $640K | +2.3% |
Summary: Chesapeake Beach housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 7%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Chesapeake Beach | $360K | $419K | +16.4% |
| North Beach | $375K | $375K | 0.0% |
| North Beach | $400K | $368.2K | -7.9% |
Housing Supply
How many homes are available in Chesapeake Beach, MD?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 71 | 68 | -4.2% |
Summary: The Chesapeake Beach real estate market had 68 homes for sale in August 2023, a 4.2% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Chesapeake Beach housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chesapeake Beach, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Chesapeake Beach in August 2023, up by 23.1% month-over-month. Of the 16 sold homes, 44% were sold under asking, 25% were sold at asking, and 31% were sold over asking.
Days on Market
How long does it take to sell a home in Chesapeake Beach, MD?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 30 Days | 27 Days | -8.2% |
Summary: Homes in Chesapeake Beach had an average of 27 days on market in Aug 2023, down by 8.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chesapeake Beach are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 16 homes were sold in Chesapeake Beach; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
