The housing market in Chelsea continues to see strong price appreciation, with values up 10.6% compared to last year. The median home price of $372,100 represents a moderate 10.6% increase from this time last year. With 3.5 months of supply, Chelsea's inventory levels remain relatively tight. Homes are taking about 59 days to sell, which is 5 days longer than this time last year. A significant 25.2% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 21.6% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Chelsea market with the affordability index at 259.8. Based on current market indicators, home prices in Chelsea are projected to decrease by approximately 20.6% over the next month.
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