CHELSEA, GHENT, AND NEON DISTRICT HOUSING MARKET DATA

There was an increase in total units sold in May, with 37 sold this month in Chelsea, Ghent, and Neon District Real Estate versus 32 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 19% versus May 2024.

Versus last year, the total number of homes available this month is lower by 8 units or 8%. The total number of active inventory this May was 91 compared to 99 in May 2024. This month's total of 91 is lower than the previous month's total supply of available inventory of 94, a decrease of 3%.

Last May, the median sale price for Chelsea, Ghent, and Neon District Homes was $350,000. This May, the median sale price was $387,100, an increase of 11% or $37,100 compared to last year. The current median sold price is 9% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 2.5 months of supply available in Chelsea, Ghent, and Neon District, compared to 3.2 in May 2024. That is a decrease of 23% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 50 homes newly listed for sale in Chelsea, Ghent, and Neon District compared to 53 in May 2024, a decrease of 6%. There were 40 current contracts pending sale this May compared to 29 a year ago. The number of current contracts is 38% higher than last May.

In May, the average sale price in Chelsea, Ghent, and Neon District was 97.5% of the average list price, which is 2.1% lower than at this time last year.

This month, the average number of days on market was 42, higher than the average last year, which was 28. This increase was impacted by the limited number of sales.





FOCUS ON: CHELSEA, GHENT, AND NEON DISTRICT HOUSING MARKET			MAY 2025

Zip Code(s): 23507, 23517, 23510
Units Sold 37	Active Inventory 91	Median Sale Price $387,100	Days On Market 42

Up 19% Vs. Year Ago	Down -8% Vs. Year Ago	Up 11% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 37 sold this month in Chelsea, Ghent, and Neon District Real Estate versus 32 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 19% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 8 units or 8%. The total number of active inventory this May was 91 compared to 99 in May 2024. This month's total of 91 is lower than the previous month's total supply of available inventory of 94, a decrease of 3%.
		Median Sale Price Last May, the median sale price for Chelsea, Ghent, and Neon District Homes was $350,000. This May, the median sale price was $387,100, an increase of 11% or $37,100 compared to last year. The current median sold price is 9% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 50	Current Contracts 40	Sold Vs. List Price 97.5%	Months of Supply 2.5

Down -6% Vs. Year Ago	Up 38% Vs. Year Ago	Down -2.1% Vs. Year Ago	Down -23% Vs. Year Ago


		Months of Supply In May, there was 2.5 months of supply available in Chelsea, Ghent, and Neon District, compared to 3.2 in May 2024. That is a decrease of 23% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 50 homes newly listed for sale in Chelsea, Ghent, and Neon District compared to 53 in May 2024, a decrease of 6%. There were 40 current contracts pending sale this May compared to 29 a year ago. The number of current contracts is 38% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Chelsea, Ghent, and Neon District was 97.5% of the average list price, which is 2.1% lower than at this time last year. Days on Market This month, the average number of days on market was 42, higher than the average last year, which was 28. This increase was impacted by the limited number of sales.


	Chelsea, Ghent, and Neon District are defined as properties listed in zip code/s 23507, 23517, 23510.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by REIN and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of REIN or Long & Foster Real Estate, Inc.