Is Chelsea, MA 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.
Key Takeaway
Chelsea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chelsea, MA
How much do homes in Chelsea, MA cost?
Median Sold Price
$555,000
$378/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chelsea have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Chelsea was $555,000 in April 2024, up 10.6% from last year, and the median price per square foot was $378.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $357.5K | $384.5K | +7.6% |
| 2 Bedrooms | $424K | $471.5K | +11.2% |
| 3 Bedrooms | $540K | $555K | +2.8% |
| 4 Bedrooms | $611.5K | $668K | +9.2% |
| 5+ Bedrooms | $804K | $880K | +9.5% |
Summary: Chelsea housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 9.5%.
Housing Supply in Chelsea, MA
How many homes are available in Chelsea, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 | 53 | +3.9% |
Summary: The Chelsea real estate market had 53 homes for sale in April 2024, a 3.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 20 | 19 | -5.0% |
| 3 Bedrooms | 6 | 9 | +50.0% |
| 4 Bedrooms | 4 | 8 | +100.0% |
| 5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The Chelsea housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 18 | +38.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelsea, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Chelsea in April 2024, up by 38.5% month-over-month. Of the 18 sold homes, 39% were sold under asking, 28% were sold at asking, and 33% were sold over asking.
Days on Market for Chelsea, MA
How long does it take to sell a home in Chelsea, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 32 Days | -26.8% |
Summary: Homes in Chelsea had an average of 32 days on market in Apr 2024, down by 26.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chelsea are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Chelsea; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
