$5,047 Closing Credit*
$425,000
4 Beds
•2 Full Baths, 1 Partial
Michael Penn, Listing Office: More Group Michigan, LLC
Is Chelsea, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Chelsea has remained a Seller's Market.
Key Takeaway
Chelsea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chelsea, MI
How much do homes in Chelsea, MI cost?
Median Sold Price
$415,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$45,000(+12.2%)
Key Takeaway
Homes in Chelsea have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in Chelsea was $415,000 in September 2024, up 12.2% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235K | $277.5K | +18.1% |
| 3 Bedrooms | $365.5K | $411.8K | +12.7% |
| 4 Bedrooms | $412.5K | $490K | +18.8% |
| 5+ Bedrooms | $650K | $523K | -19.5% |
Summary: Chelsea 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 increased by 18.1%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 19.5%.
Median Sold Price Compared To Nearby Cities
| Lima Township | $387.4K | $449.9K | +16.1% |
| Chelsea | $370K | $415K | +12.2% |
Housing Supply in Chelsea, MI
How many homes are available in Chelsea, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 54 | 56 | +3.7% |
Summary: The Chelsea real estate market had 56 homes for sale in September 2024, a 3.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 23 | 27 | +17.4% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Chelsea 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 decreased by 16.7%, 3 bedroom homes increased by 17.4%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 9 | 17 | +88.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelsea, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Chelsea in September 2024, up by 88.9% month-over-month. Of the 17 sold homes, 41% were sold under asking, 35% were sold at asking, and 24% were sold over asking.
Days on Market for Chelsea, MI
How long does it take to sell a home in Chelsea, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 29 Days | 41 Days | +38.6% |
Summary: Homes in Chelsea had an average of 41 days on market in Sep 2024, up by 38.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chelsea are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 17 homes were sold in Chelsea; 53% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
