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| MARCH 2025 | |||
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| Units Sold 242 |
Active Inventory 454 |
Median Sale Price $400,000 |
Days On Market 36 |
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| Down -21% Vs. Year Ago |
Down -9% Vs. Year Ago |
Up 5% Vs. Year Ago |
Up 16% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 242 sold this month in Chesapeake City Real Estate versus 235 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 21% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 47 units or 9%. The total number of active inventory this March was 454 compared to 501 in March 2024. This month's total of 454 is lower than the previous month's total supply of available inventory of 531, a decrease of 15%. |
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Median Sale Price
Last March, the median sale price for Chesapeake City Homes was $380,000. This March, the median sale price was $400,000, an increase of 5% or $20,000 compared to last year. The current median sold price is 10% higher than in February. 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 406 |
Current Contracts 420 |
Sold Vs. List Price 100.1% |
Months of Supply 1.9 |
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| Down -2% Vs. Year Ago |
Up 35% Vs. Year Ago |
No Change Vs. Year Ago |
Up 15% Vs. Year Ago |
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Months of Supply
In March, there was 1.9 months of supply available in Chesapeake City, compared to 1.6 in March 2024. That is an increase of 15% 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 406 homes newly listed for sale in Chesapeake City compared to 413 in March 2024, a decrease of 2%. There were 420 current contracts pending sale this March compared to 312 a year ago. The number of current contracts is 35% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Chesapeake City was 100.1% 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 36, higher than the average last year, which was 31, an increase of 16%. | |||
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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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