CHESAPEAKE CITY HOUSING MARKET DATA

There was an increase in total units sold in May, with 358 sold this month in Chesapeake City Real Estate versus 323 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 9% versus May 2024.

Versus last year, the total number of homes available this month is lower by 20 units or 3%. The total number of active inventory this May was 587 compared to 607 in May 2024. This month's supply remained stable as compared to last month.

Last May, the median sale price for Chesapeake City Homes was $405,000. This May, the median sale price was $420,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 6% 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 1.6 months of supply available in Chesapeake City, compared to 1.8 in May 2024. That is a decrease of 11% 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 548 homes newly listed for sale in Chesapeake City compared to 481 in May 2024, an increase of 14%. There were 464 current contracts pending sale this May compared to 333 a year ago. The number of current contracts is 39% higher than last May.

In May, the average sale price in Chesapeake City was 100.6% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 28, higher than the average last year, which was 26, an increase of 8%.





FOCUS ON: CHESAPEAKE CITY HOUSING MARKET			MAY 2025

Units Sold 358	Active Inventory 587	Median Sale Price $420,000	Days On Market 28

Up 9% Vs. Year Ago	Down -3% Vs. Year Ago	Up 4% Vs. Year Ago	Up 8% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 358 sold this month in Chesapeake City Real Estate versus 323 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 9% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 20 units or 3%. The total number of active inventory this May was 587 compared to 607 in May 2024. This month's supply remained stable as compared to last month.
		Median Sale Price Last May, the median sale price for Chesapeake City Homes was $405,000. This May, the median sale price was $420,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 6% 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 548	Current Contracts 464	Sold Vs. List Price 100.6%	Months of Supply 1.6

Up 14% Vs. Year Ago	Up 39% Vs. Year Ago	No Change Vs. Year Ago	Down -11% Vs. Year Ago


		Months of Supply In May, there was 1.6 months of supply available in Chesapeake City, compared to 1.8 in May 2024. That is a decrease of 11% 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 548 homes newly listed for sale in Chesapeake City compared to 481 in May 2024, an increase of 14%. There were 464 current contracts pending sale this May compared to 333 a year ago. The number of current contracts is 39% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Chesapeake City was 100.6% 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 28, higher than the average last year, which was 26, an increase of 8%.



	*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.