Is Chester, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Chester was a Seller's Market.
Key Takeaway
Chester 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 Chester, MD
How much do homes in Chester, MD cost?
Median Sold Price
$475,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chester have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Chester was $475,000 in April 2024, up 4.4% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $264K | $310K | +17.4% |
| 2 Bedrooms | $324.5K | $415K | +27.9% |
| 3 Bedrooms | $442.5K | $449.5K | +1.6% |
| 4 Bedrooms | $575K | $665K | +15.7% |
| 5+ Bedrooms | $812.5K | $835K | +2.8% |
Summary: Chester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 27.9%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Stevensville | $436K | $529.9K | +21.5% |
| Kent Island | $450K | $519.5K | +15.4% |
| Chester | $455K | $475K | +4.4% |
Housing Supply in Chester, MD
How many homes are available in Chester, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 46 | 58 | +26.1% |
Summary: The Chester real estate market had 58 homes for sale in April 2024, a 26.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 16 | 27 | +68.8% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 68.8%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Chester, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Chester in April 2024, the same as the previous month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Chester, MD
How long does it take to sell a home in Chester, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 49 Days | +117.7% |
Summary: Homes in Chester had an average of 49 days on market in Apr 2024, up by 117.7% compared to last year.
Breakdown of Home Sale Times
5 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 Chester are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Chester; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
