$5,213 Closing Credit*
$439,000
2,072 SqFt
3 Beds
•2 Full Baths
Willem Van Reesema, Listing Office: The Charles Reinhart Company
Is Chelsea, MI 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, Chelsea has remained a Seller's Market.
Key Takeaway
Chelsea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chelsea, MI
How much do homes in Chelsea, MI cost?
Median Sold Price
$425,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$55,100(+14.9%)
Key Takeaway
Homes in Chelsea have sold for 14.9% more than they did a year ago.
Summary: The median home sold price in Chelsea was $425,000 in October 2024, up 14.9% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $257.5K | $274K | +6.4% |
| 3 Bedrooms | $367.9K | $413.6K | +12.4% |
| 4 Bedrooms | $410K | $490K | +19.5% |
| 5+ Bedrooms | $600K | $514K | -14.3% |
Summary: Chelsea 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 6.4%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes decreased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Chelsea | $369.9K | $425K | +14.9% |
| Sylvan Township | $392.4K | $446.8K | +13.9% |
Housing Supply in Chelsea, MI
How many homes are available in Chelsea, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 56 | -1.8% |
Summary: The Chelsea real estate market had 56 homes for sale in October 2024, a 1.8% decrease 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 28 | 29 | +3.6% |
| 4 Bedrooms | 20 | 17 | -15.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Chelsea 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 20%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chelsea, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Chelsea in October 2024, down by 42.1% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Chelsea, MI
How long does it take to sell a home in Chelsea, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 32 Days | +10.1% |
Summary: Homes in Chelsea had an average of 32 days on market in Oct 2024, up by 10.1% compared to last year.
Breakdown of Home Sale Times
7 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 Chelsea are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Chelsea; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.