Is Chelmsford, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chelmsford has remained a Seller's Market.
Key Takeaway
Chelmsford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chelmsford, MA
How much do homes in Chelmsford, MA cost?
Median Sold Price
$588,000
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chelmsford have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Chelmsford was $588,000 in May 2024, up 4.5% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $232.5K | $265K | +14.0% |
| 2 Bedrooms | $408K | $426K | +4.4% |
| 3 Bedrooms | $575K | $607K | +5.6% |
| 4 Bedrooms | $700K | $756K | +8.0% |
| 5+ Bedrooms | $747.5K | $875K | +17.1% |
Summary: Chelmsford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Cities
| Tyngsborough | $535K | $600K | +12.1% |
| Lowell | $430K | $469.9K | +9.3% |
| North Chelmsford | $468K | $510K | +9.0% |
| Chelmsford | $562.7K | $588K | +4.5% |
| North Billerica | $635K | $645K | +1.6% |
Housing Supply in Chelmsford, MA
How many homes are available in Chelmsford, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 98 | +22.5% |
Summary: The Chelmsford real estate market had 98 homes for sale in May 2024, a 22.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 27 | 31 | +14.8% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 17 | 25 | +47.1% |
| 5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The Chelmsford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.8%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 47.1%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 31 | +6.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelmsford, you could pay more than the asking price. 83.9% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Chelmsford in May 2024, up by 6.9% month-over-month. Of the 31 sold homes, 13% were sold under asking, 3% were sold at asking, and 84% were sold over asking.
Days on Market for Chelmsford, MA
How long does it take to sell a home in Chelmsford, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +16.9% |
Summary: Homes in Chelmsford had an average of 20 days on market in May 2024, up by 16.9% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chelmsford are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Chelmsford; 94% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
