Is Chesapeake Ranch Estates, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chesapeake Ranch Estates has remained a Seller's Market.
Housing Prices in Chesapeake Ranch Estates, MD
How much do homes in Chesapeake Ranch Estates, MD cost?
Median Sold Price
$325,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Chesapeake Ranch Estates was $325,000 in March 2024, down 0.2% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $268.8K | N/A |
2 Bedrooms | $238K | $208.2K | -12.5% |
3 Bedrooms | $310K | $308.6K | -0.4% |
4 Bedrooms | $334K | $352K | +5.4% |
5+ Bedrooms | $350K | $359.9K | +2.8% |
Summary: Chesapeake Ranch Estates housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 2.8%.
Housing Supply in Chesapeake Ranch Estates, MD
How many homes are available in Chesapeake Ranch Estates, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 78 | +2.6% |
Summary: The Chesapeake Ranch Estates real estate market had 78 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 30 | 30 | 0.0% |
4 Bedrooms | 20 | 25 | +25.0% |
5+ Bedrooms | 17 | 14 | -17.6% |
Summary: The Chesapeake Ranch Estates housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 17.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 16 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Chesapeake Ranch Estates in March 2024, up by 33.3% month-over-month. Of the 16 sold homes, 13% were sold under asking, 44% were sold at asking, and 44% were sold over asking.
Days on Market for Chesapeake Ranch Estates, MD
How long does it take to sell a home in Chesapeake Ranch Estates, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 31 Days | -29.9% |
Summary: Homes in Chesapeake Ranch Estates had an average of 31 days on market in Mar 2024, down by 29.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Chesapeake Ranch Estates; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.