 |
|||
 |
|||
| | |||
| JULY 2025 | |||
| | |||
| Units Sold 373 |
Active Inventory 613 |
Median Sale Price $417,000 |
Days On Market 25 |
|
|
|
|
|
| Up 12% Vs. Year Ago |
Down -6% Vs. Year Ago |
Up 1% Vs. Year Ago |
Down -7% Vs. Year Ago |
| | |||
Units Sold
There was a decrease in total units sold in July, with 373 sold this month in Chesapeake City Real Estate versus 397 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 12% versus July 2024. |
|||
Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 6%. The total number of active inventory this July was 613 compared to 653 in July 2024. This month's total of 613 is lower than the previous month's total supply of available inventory of 735, a decrease of 17%. |
|||
Median Sale Price
Last July, the median sale price for Chesapeake City Homes was $414,500. This July, the median sale price was $417,000, an increase of 1% or $2,500 compared to last year. The current median sold price is 3% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
|||
| | |||
| New Listings 497 |
Current Contracts 493 |
Sold Vs. List Price 100.2% |
Months of Supply 1.6 |
|
|
|
|
|
| Up 20% Vs. Year Ago |
Up 59% Vs. Year Ago |
No Change Vs. Year Ago |
Down -17% Vs. Year Ago |
| | |||
Months of Supply
In July, there was 1.6 months of supply available in Chesapeake City, compared to 2.0 in July 2024. That is a decrease of 16% 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 497 homes newly listed for sale in Chesapeake City compared to 414 in July 2024, an increase of 20%. There were 493 current contracts pending sale this July compared to 310 a year ago. The number of current contracts is 59% higher than last July. |
|||
Sale Price to List Price Ratio
In July, the average sale price in Chesapeake City was 100.2% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 27, a decrease of 7%. | |||
 |
|||
| *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. |
|||