Your Town: Mid-Year Report of Chelmsford Real Estate Market
Want to know how the Chelmsford, Massachusetts real estate market is doing? In this Your Town report we’re looking at home sales in Chelmsford for the first half of 2015 versus the first half of 2014, how the market is currently doing and what’s to come for the rest of the year. To prepare this we utilize numbers both from public records and MLSPIN.
As of June 30th a total of 206 homes sold in Chelmsford at an average sale price of $308,981. (These numbers include single-family homes, condominiums, and multi-family sales).
206 sales is down just slightly from this same time period in 2014 when 223 homes were sold, but there was a good sized lift in the overall average sale price which was $288,113 during this time period in 2014.
Breaking down the numbers:
- Single-Family Homes: 137 single-families sold in 2014 for an average price of $365,448.50 compared to 126 single-family sales this year for an average price of $376,520. While there were just under a dozen fewer sales this year, there was an almost $12,000 increase in the average price.
- Condominiums: 83 condos sold in 2014 for an average price of $198,689, compared to 77 condo sales this year for an average price of $218,033. While there’s been a decrease in the number of sales, we’re seeing about a $20,000 increase in the average price of a condo in Chelmsford.
- Multi-Family Homes: 3 multi-families sold in the first half of 2014 for an average price of $300,200. The same number of multi-families sold during this time period in 2015, but at an average price $355,800 which represents a 16% increase.
Chelmsford right now:
As of today there are 65 single-family homes on the market compared to 37 a year ago. As for condos, there are 24 units for sale compared to 26 this time last year, and 5 multi-families are currently on the market compared to one this time in 2014. This adds up to 94 homes on the market right now compared to 65 at the same time last year. This makes it a great time to be a buyer as you have more choices but a tougher time to be a seller.
Rest of the year?
From January 1st to June 30th pending homes sales in Chelmsford were up about 9% with 283 compared to 260 homes pending during the same time last year. Its good news to see more contracts accepted, especially considering the slow start to the year due to the bad winter. Pending home sales in all of Massachusetts were up 7% for the first six months of this year as reported in our Mid-Year Report. Therefore Chelmsford actually beat the state. This is a very good sign of what is to come for home sales in Chelmsford in the months to come. Although there is some ground to make up by the end of the year we feel that it will probable happen given the current activity among buyers.
Chelmsford is located in Middlesex Country, Massachusetts in the Greater Lowell area, approximately 30 miles northwest of Boston. The population of Chelmsford at the 2010 census was 33,802. The town is named for Chelmsford, England and is the only town so named in the United States. It was declared the 28th best place to live in the United States by Money Magazine. Chelmsford is bordered by two sizable rivers: the Merrimack River to the north, and the Concord River to the east. Niche.com recently released its 2015 list of school districts throughout the nation as well as the Commonwealth, and ranked schools with the best extracurricular activities, facilities, foods, outcomes, sports, and more. Chelmsford made it to the top 100, coming in at #69. The town has one public high school, two middle schools, and four elementary schools. Chelmsford high school age students also have the option of attending the Nashoba Valley Technical High School.
From coffee houses, to fine dining, comedy clubs and amusement parks, there is something for everyone’s taste in zip code 01824.