Is Chelsea, MI 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, Chelsea has remained a Seller's Market.
Housing Prices in Chelsea, MI
How much do homes in Chelsea, MI cost?
Median Sold Price
$394,900
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Chelsea was $394,900 in April 2024, up 2.9% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $224.9K | $287.5K | +27.8% |
3 Bedrooms | $365.5K | $380K | +4.0% |
4 Bedrooms | $445.9K | $467.3K | +4.8% |
5+ Bedrooms | $687.5K | $505K | -26.5% |
Summary: Chelsea housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 26.5%.
Median Sold Price Compared To Nearby Cities
Chelsea | $383.9K | $394.9K | +2.9% |
Sylvan Township | $433.1K | $420K | -3.0% |
Housing Supply in Chelsea, MI
How many homes are available in Chelsea, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
41 | 53 | +29.3% |
Summary: The Chelsea real estate market had 53 homes for sale in April 2024, a 29.3% 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 | 7 | 13 | +85.7% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 16 | 20 | +25.0% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Chelsea 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 85.7%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Chelsea in April 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 15% were sold at asking, and 54% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
70 Days | 48 Days | -31.1% |
Summary: Homes in Chelsea had an average of 48 days on market in Apr 2024, down by 31.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Chelsea; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.