Is Chestnut Hill, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Chestnut Hill was a Neutral Market.
Key Takeaway
Chestnut Hill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chestnut Hill, MA
How much do homes in Chestnut Hill, MA cost?
Median Sold Price
$1,353,300
$597/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chestnut Hill have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Chestnut Hill was $1,353,300 in May 2024, up 9.4% from last year, and the median price per square foot was $597.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $421.5K | +5.4% |
| 2 Bedrooms | $542.5K | $691.5K | +27.5% |
| 3 Bedrooms | $1.4M | $1.3M | -6.9% |
| 4 Bedrooms | $1.4M | $1.9M | +29.9% |
| 5+ Bedrooms | $2.5M | $2.5M | +1.2% |
Summary: Chestnut Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 27.5%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 29.9%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
| Newton Center | $1.5M | $1.7M | +15.6% |
| Chestnut Hill | $1.2M | $1.3M | +9.4% |
| Newton | $1.3M | $1.4M | +8.4% |
| Brookline | $1.1M | $1.2M | +6.2% |
| Boston | $776.6K | $808.9K | +4.1% |
Housing Supply in Chestnut Hill, MA
How many homes are available in Chestnut Hill, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 95 | +43.9% |
Summary: The Chestnut Hill real estate market had 95 homes for sale in May 2024, a 43.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 10 | 18 | +80.0% |
| 4 Bedrooms | 14 | 21 | +50.0% |
| 5+ Bedrooms | 17 | 30 | +76.5% |
Summary: The Chestnut Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 76.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chestnut Hill, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Chestnut Hill in May 2024, up by 30.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 0% were sold at asking, and 54% were sold over asking.
Days on Market for Chestnut Hill, MA
How long does it take to sell a home in Chestnut Hill, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 37 Days | +74.3% |
Summary: Homes in Chestnut Hill had an average of 37 days on market in May 2024, up by 74.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chestnut Hill are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Chestnut Hill; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
