Is Chelsea, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Chelsea has remained a Buyer's Market.
Key Takeaway
Chelsea is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chelsea, NY
How much do homes in Chelsea, NY cost?
Median Sold Price
$1,825,000
$1,831/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Chelsea have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in Chelsea was $1,825,000 in November 2023, down 8.7% from last year, and the median price per square foot was $1,831.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.1M | $1.0M | -14.3% |
| 2 Bedrooms | $2.3M | $2.1M | -7.6% |
| 3 Bedrooms | $4.4M | $4.6M | +4.2% |
| 4 Bedrooms | $9.3M | $7.0M | -25.3% |
| 5+ Bedrooms | $6.9M | $9.5M | +35.8% |
Summary: Chelsea housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 25.3%, and 5+ bedroom homes increased by 35.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Hudson Yards | $5.1M | $5.8M | +14.6% |
| The Flatiron District | $1.7M | $1.6M | -5.9% |
| Midtown Manhattan | $1.3M | $1.2M | -6.6% |
| Chelsea | $1.9M | $1.8M | -8.7% |
Housing Supply in Chelsea, NY
How many homes are available in Chelsea, NY?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 435 | 421 | -3.2% |
Summary: The Chelsea real estate market had 421 homes for sale in November 2023, a 3.2% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 133 | 125 | -6.0% |
| 2 Bedrooms | 153 | 153 | 0.0% |
| 3 Bedrooms | 96 | 95 | -1.0% |
| 4 Bedrooms | 37 | 34 | -8.1% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The Chelsea housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 6%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 31 | 22 | -29.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelsea, expect to pay close to the asking price. 90.9% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in Chelsea in November 2023, down by 29.0% month-over-month. Of the 22 sold homes, 9% were sold under asking, 91% were sold at asking, and 0% were sold over asking.
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