Is Chesapeake Beach, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Chesapeake Beach has remained a Seller's Market.
Key Takeaway
Chesapeake Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chesapeake Beach, MD
How much do homes in Chesapeake Beach, MD cost?
Median Sold Price
$497,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chesapeake Beach have sold for 34.3% more than they did a year ago.
Summary: The median home sold price in Chesapeake Beach was $497,000 in April 2024, up 34.3% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $249.9K | +16.2% |
| 2 Bedrooms | $311.5K | $340K | +9.1% |
| 3 Bedrooms | $350K | $390.2K | +11.5% |
| 4 Bedrooms | $520K | $539K | +3.7% |
| 5+ Bedrooms | $651K | $672K | +3.2% |
Summary: Chesapeake Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Chesapeake Beach | $370K | $497K | +34.3% |
| North Beach | $370K | $412K | +11.4% |
| North Beach | $375.4K | $415K | +10.5% |
Housing Supply in Chesapeake Beach, MD
How many homes are available in Chesapeake Beach, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 38 | +8.6% |
Summary: The Chesapeake Beach real estate market had 38 homes for sale in April 2024, a 8.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 16 | 11 | -31.3% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Chesapeake Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chesapeake Beach, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Chesapeake Beach in April 2024, down by 35.7% month-over-month. Of the 9 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Chesapeake Beach, MD
How long does it take to sell a home in Chesapeake Beach, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 7 Days | +5.2% |
Summary: Homes in Chesapeake Beach had an average of 7 days on market in Apr 2024, up by 5.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chesapeake Beach are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Chesapeake Beach; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
