Is Chesapeake City, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Chesapeake City has remained a Seller's Market.
Key Takeaway
Chesapeake City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chesapeake City, MD
How much do homes in Chesapeake City, MD cost?
Median Sold Price
$369,000
$154/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Chesapeake City have sold for 13.5% more than they did a month ago.
Summary: The median home sold price in Chesapeake City was $369,000 in April 2024, up 13.5% from last month, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $325K | $672K | +106.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $286K | N/A |
Summary: Chesapeake City housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 106.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Chesapeake City, MD
How many homes are available in Chesapeake City, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The Chesapeake City real estate market had 12 homes for sale in April 2024, a 9.1% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Chesapeake City 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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chesapeake City, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Chesapeake City in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Chesapeake City, MD
How long does it take to sell a home in Chesapeake City, MD?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 81 Days | +246.1% |
Summary: Homes in Chesapeake City had an average of 81 days on market in Apr 2024, up by 246.1% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chesapeake City are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Chesapeake City; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
