MID-YEAR 2024 CHELMSFORD, MA
Real Estate Market Recap

  • Chelmsford, MA home sales increased by 26.3% as there were 192 sales in the first half of 2024 compared to 152 in the first half of 2023. Average price increased by 13.4% going from $548,325 in the first half of 2023 to $621,930 in the first half of 2024. These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic to the right.
  • The number of homes listed in the first half of 2024 compared to the first half of 2023 increased by 20.6%, moving from 194 to 234.
  • The number of pending sales increased by 24.4% with 219 in the first half of 2024 compared to 176 in the first half of 2023.
Learn More About the Chelmsford, MA Community
2024 midyear Chelmsford, MA snapshot

2024 CHELMSFORD, MA Housing Market Outlook

The first half of the year is traditionally a seller’s market characterized by low inventory and high buyer demand. This dynamic often leads to bidding wars and upward pressure on home prices. However, as the year unfolds, more buyers find homes or renew leases, while a growing number of homeowners enter the market, particularly those experiencing life changes. This shift typically creates a more buyer-friendly environment in the latter part of the year with increased housing options and less competition. Sellers may need to adapt their pricing strategies to attract buyers in this changing market. With mortgage rates remaining in the high 6% to low 7% range and home values continuing to climb, buyers should stay informed and ready to seize opportunities, especially if interest rates unexpectedly decrease.

To learn more about Massachusetts’s performance, click here to read the 2024 Massachusetts Mid-Year Report.

Data provided by Warren Group & MLSPin and compared to the prior year.

Additional Resources