Is Chestertown, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chestertown is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Chestertown has remained a Seller's Market.

Key Takeaway

Chestertown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Chestertown, MD

How much do homes in Chestertown, MD cost?

Median Sold Price

$341,000

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$6,000(+1.8%)

Key Takeaway

Homes in Chestertown have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Chestertown was $341,000 in September 2024, up 1.8% from last year, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $302.7K$262.5K
-13.3%
3 $325K$324K
-0.3%
4 $350K$430K
+22.9%
5+ $345K$480K
+39.1%

Summary: Chestertown housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 39.1%.

Housing Supply in Chestertown, MD

How many homes are available in Chestertown, MD?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7282+13.9%

Summary: The Chestertown real estate market had 82 homes for sale in September 2024, a 13.9% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1213
+8.3%
3 4452
+18.2%
4 1314
+7.7%
5+ 33
0.0%

Summary: The Chestertown housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1017+70.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chestertown, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Chestertown in September 2024, up by 70.0% month-over-month. Of the 17 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.

Days on Market for Chestertown, MD

How long does it take to sell a home in Chestertown, MD?

Average Sale Time

Sep 2023Sep 2024CHANGE
13 Days44 Days+225.0%

Summary: Homes in Chestertown had an average of 44 days on market in Sep 2024, up by 225% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chestertown are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 17 homes were sold in Chestertown; 47% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

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