Chatham Borough Real Estate Market Update
February 11, 2025 - 21:16
The real estate landscape in Chatham Borough has shown notable changes in recent months. Currently, there are three active listings, a decrease of 25% compared to four listings in 2024. This decline in available properties may indicate a tightening market, prompting potential buyers to act quickly.
On the other hand, the number of homes under contract has risen significantly, with 12 properties currently in this status, marking a substantial increase of 71.4% from just seven in the previous year. This surge suggests heightened buyer interest and a competitive environment for those looking to purchase a home in the area.
However, the overall sales figures reveal a different story. Only three units have been sold recently, a stark 50% drop from the six sold in 2024. This decline in sales could be attributed to the reduced inventory and rising prices.
The average list price for homes in Chatham Borough stands at $1,198,000, reflecting the ongoing demand for quality real estate in this desirable community. As the market continues to evolve, both buyers and sellers will need to stay informed and adapt to these shifting dynamics.
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