$4,036 Closing Credit*
$339,900
1,962 SqFt
3 Beds
•2 Full Baths
William A Harris, Listing Office: Coldwell Banker Jay Lilly Real Estate
Is Chesapeake Ranch Estates, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Chesapeake Ranch Estates has remained a Seller's Market.
Key Takeaway
Chesapeake Ranch Estates is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chesapeake Ranch Estates, MD
How much do homes in Chesapeake Ranch Estates, MD cost?
Median Sold Price
$340,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,500(+4.8%)
Key Takeaway
Homes in Chesapeake Ranch Estates have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Chesapeake Ranch Estates was $340,000 in October 2024, up 4.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $268.8K | N/A |
| 2 Bedrooms | $239.6K | $247K | +3.1% |
| 3 Bedrooms | $306K | $330K | +7.8% |
| 4 Bedrooms | $349.5K | $380K | +8.7% |
| 5+ Bedrooms | $370K | $375K | +1.4% |
Summary: Chesapeake Ranch Estates housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Chesapeake Ranch Estates | $324.5K | $340K | +4.8% |
| Drum Point | $390K | $375K | -3.8% |
Housing Supply in Chesapeake Ranch Estates, MD
How many homes are available in Chesapeake Ranch Estates, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 57 | +18.8% |
Summary: The Chesapeake Ranch Estates real estate market had 57 homes for sale in October 2024, a 18.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Chesapeake Ranch Estates housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Chesapeake Ranch Estates, expect to pay close to the asking price. 63.6% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Chesapeake Ranch Estates in October 2024, up by 37.5% month-over-month. Of the 11 sold homes, 27% were sold under asking, 64% were sold at asking, and 9% were sold over asking.
Days on Market for Chesapeake Ranch Estates, MD
How long does it take to sell a home in Chesapeake Ranch Estates, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 18 Days | -11.1% |
Summary: Homes in Chesapeake Ranch Estates had an average of 18 days on market in Oct 2024, down by 11.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chesapeake Ranch Estates are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Chesapeake Ranch Estates; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
