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| JUNE 2025 | |||
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| Units Sold 397 |
Active Inventory 608 |
Median Sale Price $430,000 |
Days On Market 31 |
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| Up 15% Vs. Year Ago |
Down -3% Vs. Year Ago |
Up 7% Vs. Year Ago |
Up 19% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in June, with 397 sold this month in Chesapeake City Real Estate versus 362 last month, an increase of 10%. This month's total units sold was higher than at this time last year, an increase of 15% versus June 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 3%. The total number of active inventory this June was 608 compared to 627 in June 2024. This month's total of 608 is lower than the previous month's total supply of available inventory of 679, a decrease of 10%. |
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Median Sale Price
Last June, the median sale price for Chesapeake City Homes was $400,000. This June, the median sale price was $430,000, an increase of 8% or $30,000 compared to last year. The current median sold price is 2% higher than in May. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 510 |
Current Contracts 481 |
Sold Vs. List Price 100.4% |
Months of Supply 1.5 |
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| Up 21% Vs. Year Ago |
Up 51% Vs. Year Ago |
No Change Vs. Year Ago |
Down -16% Vs. Year Ago |
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Months of Supply
In June, there was 1.5 months of supply available in Chesapeake City, compared to 1.8 in June 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. |
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New Listings & Current Contracts
This month there were 510 homes newly listed for sale in Chesapeake City compared to 420 in June 2024, an increase of 21%. There were 481 current contracts pending sale this June compared to 318 a year ago. The number of current contracts is 51% higher than last June. |
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Sale Price to List Price Ratio
In June, the average sale price in Chesapeake City was 100.4% 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 31, higher than the average last year, which was 26, an increase of 19%. | |||
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| *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. |
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