Chelmsford 2022 Mid-Year Review

Want to know how the Chelmsford, Massachusetts real estate market is doing? In this 2022 Mid-Year Housing Report, we’re looking at home sales in Chelmsford in the first half of 2022 compared to the first half of 2021 and how the market performed in that area.

Home Sales Down 7.19% & Prices Up 16.96%

As of June 30, 2022, Chelmsford sales decreased from 278 in the first half of 2021 to 258 in the first half of 2022, a decrease of 7.19%.

Prices increased by 16.96%, now at an average of $540,292 from $461,950.  

These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic above.

Listed Homes

The number of listed homes increased slightly by 1.66%, now at 306 over 301 last year.

Pending Homes

The number of pending sales decreased by 6.14% in Chelmsford in the first half of 2022.  Last year in the same time period, there were 293 contracts accepted compared to 275 this year.

2022 Outlook

With sales down in the first half of 2022 compared to the same time period last year, it is clear that the Chelmsford market is slowing down, consistent with Massachusetts trends. The rise of mortgage rates has lessened buyer affordability and many have exited the market completely which has lowered demand as a result. Lowered demand has calmed the frenzied state of the market that was present in the beginning of 2022. Looking forward, mortgage rates will likely continue their ascent which will keep demand low and continue to even out the market between buyers and sellers as we continue throughout the year.

To learn more about Massachusetts performance and the predictions for the rest of the year, click here to read the 2022 Massachusetts Mid-Year Report.

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

Additional Resources