Is Chesapeake Beach, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Chesapeake Beach was a Buyer's Market.
Key Takeaway
Chesapeake Beach is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Chesapeake Beach, MD
How much do homes in Chesapeake Beach, MD cost?
Median Sold Price
$500,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chesapeake Beach have sold for 37% more than they did a year ago.
Summary: The median home sold price in Chesapeake Beach was $500,000 in March 2024, up 37% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $249.9K | +16.2% |
| 2 Bedrooms | $325K | $340K | +4.6% |
| 3 Bedrooms | $355K | $382K | +7.6% |
| 4 Bedrooms | $424.3K | $568K | +33.9% |
| 5+ Bedrooms | $635K | $669K | +5.4% |
Summary: Chesapeake Beach housing prices by bedroom type for March 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 7.6%, 4 bedroom homes increased by 33.9%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Chesapeake Beach | $365K | $500K | +37.0% |
| North Beach | $377.5K | $403.2K | +6.8% |
| North Beach | $393K | $410.5K | +4.5% |
Housing Supply in Chesapeake Beach, MD
How many homes are available in Chesapeake Beach, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 72 | 0.0% |
Summary: The Chesapeake Beach real estate market had 72 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Chesapeake Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chesapeake Beach, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Chesapeake Beach in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 0% were sold under asking, 55% were sold at asking, and 45% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 35 Days | +38.2% |
Summary: Homes in Chesapeake Beach had an average of 35 days on market in Mar 2024, up by 38.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chesapeake Beach are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Chesapeake Beach; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
