Chelsea, MA Real Estate

Quickly find real estate in Chelsea, MA, with help from Boston City Properties. As you probably already know, the real estate market here is extremely fast-paced and competitive. While house-, condo- or apartment-hunting may be tough in Boston itself, it’s no easier in this densely populated city. Therefore, it pays to line up all of the help that you can get—and we are here to provide it. When you complete the simple signup form, we’ll give you free, immediate, unlimited access to our database of searchable MA real estate listings, allowing you to take your search to the next level.

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What makes our real estate database so unique? Populated by dependable sources like the MLS, it is updated continually around the clock. It features a powerful search tool that puts you in control by allowing you to dictate preferences for everything from price to size to location. At a certain point, a human touch is needed, and we can connect you with a real estate agent who specializes in Chelsea real estate whenever you are ready. What seems like an uphill battle now is sure to turn out far easier than y you’d anticipated with us in your corner.

Located directly across the Mystic River from the city of Boston, the Suffolk County city of Chelsea had a population of just over 36,800 at the time of the 2010 U.S. Census. Don’t let its relatively small population fool you, however; this city only occupies an area of around 2.21 square miles, so it is very densely populated. Covered primarily by the 02180 zip code, this city is surrounded on three sides by water. Our team is very familiar with this city, and we can refer you to real estate experts there who will make your search so much easier.

What can you expect when it comes to house-hunting in a place like Chelsea? If you are new to the area, it may help to get a feel for the overall cost of living. You’ve probably already surmised that costs here tend to be somewhat high not only in terms of real estate but in terms of other goods and services. On the cost of living index, a score of 100 represents the average cost of living in the U.S. The score for the state of MA is 137.7, and the score for Chelsea is 141.3. This suggests that costs here tend to be quite high, and it’s important to keep that in mind when budgeting.

Speaking of prices, what can you expect in terms of residential real estate like single-family homes, townhouses and condos? Lately, the median list price for real estate in this city has been around $479,000, and median sale price has been around $380,000. By comparison, the median list and sale prices for the state in general are $419,000 and $356,000. The price per square foot in Chelsea, $271, is quite a bit higher than Massachusetts’, which is $242. While prices in this city may be a bit higher than average, however, they are still quite competitive when stacked up with other Boston area communities.

How is the real estate market in Chelsea faring these days? Lately, it is looking more and more like a buyer’s market, with homes sitting on the market for extended periods of time. At the same time, however, home values continue to climb steadily and even strongly. One troubling thing is that around 14.9 percent of residential properties here have negative equity, which suggests that property values in some neighborhoods may not have bounced all the way back just yet.

Will you have many options to choose from when seeking real estate in Chelsea? That depends on what you’re after, of course, but given how long properties are lingering on the market, you can expect to have plenty of options. Indeed, properties have been staying on the market for an average of 69 days before either selling or being taken off the market. Lately, there have been around 40 homes for sale at any given time, so you shouldn’t have to worry about a lack of options. Of course, sorting through them to find what you need is tricky, and it’s why it pays to have help from Boston City Properties.

While the real estate market in Chelsea appears to favor buyers at the moment—and although a rather high percentage of properties here have negative equity—things aren’t as negative as they initially appear. In particular, property values in this city continue to climb at a very strong rate, so you are unlikely to end up with negative equity yourself. Lately, the year-over-year appreciation rate for residential real estate has hovered around 3.8 percent. Even if you only stay in your home for a few years, then, you can expect to come away with good equity.

If you take a look at Chelsea but strike out because homes aren’t in your price range or for other reasons, don’t worry. Plenty of neighboring communities have a lot to offer, and we can connect you with a local real estate agent who can point you in the right direction. For example, in nearby Somerville, the median sale price for homes is around $559,000; over in Everett, the median sale price is closer to $332,000. Whatever your budget may be, then, there is sure to be something suitable somewhere in the area.

Despite the fact that it occupies an area that is just over 2 square miles in size, Chelsea has a vast inventory of residential properties. All told, there are upwards of 12,300 such structures in the city. Of that number, around 87 percent are apartments; around 8 percent are single-family homes; and around 4 percent are townhouses. If you are looking for apartments, then, you will have plenty of options. If you prefer owning a single-family, detached home, however, the pickings will be much slimmer—and the help of a local agent will be even more crucial.

Given the relative dearth of detached homes in this city, comparing prices for them versus prices for townhouses is a bit pointless. Still, it may help to put pricing into perspective for you by considering how much it can vary from one property type to the next. In 2015, the median sale price for townhomes in this city was around $305,000 while the median sale price for single-family homes was around $312,000. That’s not a very significant difference, and that reflects the fact that there simply aren’t very many single-family homes in this area.

If you are going to rent instead of buy real estate in Chelsea, you’re in good company. Approximately 73 percent of residential properties in this city are rented, which means that only around 27 percent, or a quarter, are owned. Because there is a huge inventory of apartments—and because they span so many prices and layouts—rent prices here are surprisingly affordable. While the median monthly rent for the state of Massachusetts is around $2,500, it is only around $1,875 in the city of Chelsea. That’s not to say that finding the right apartment is easy; it’s not. With help from Boston City Properties, though, you’ll get through it far more quickly.

Since you are the one who is looking for real estate in Chelsea, MA, you know what you need. The type of property that you want dramatically affects how easy or difficult the search will be. While single-family homes tend to be the most abundant in most communities, they are exceedingly scarce in Chelsea. By the same token, you will have way more luck finding condos and townhouses to buy and rent than you will in most other areas. Here’s some basic info about what to expect while searching for certain properties in Chelsea:

Single-family homes – Only around 8 percent of the more than 12,000 residential properties in this city are classified as detached single-family homes. All that you have to do is take one look at this neighborhood, and it’s easy to see why. The population density here is very high, so homes like these just aren’t practical. They only average around 1,173 square feet of space, which also reflects the population density of the area. If you absolutely must own a single-family house in this city, you will definitely need a referral to a local agent from Boston City Properties.
Townhouses and condos – In most communities, these are the toughest properties to find. Since Chelsea is so densely populated, however, it’s home to a larger percentage of attached residential properties than most other areas. Indeed, around 4 percent of properties here fall into this category, which may not sound like much. However, they are readily available. Most are put on the market for rent, but some are put up for sale from time to time as well. Use our search tool to check current availability for this property type in this city.
Apartments – With a full 87 percent of residential properties in this city classified as apartments, it is safe to say that you will have plenty of options to choose from if you need to rent a place. As noted previously, rent prices here are quite competitive, which is mostly because there are so many options out there. Monthly rent averages around $1,875, which is much cheaper than the statewide average of $2,500 per month. Our database is constantly updated with listings for apartments for rent in Chelsea, so make it your first stop when checking current availability for apartments in this city.

How Boston City Properties Can Help

Finding the perfect new home in Chelsea, Massachusetts doesn’t have to be a huge undertaking. The best way to find what you need is by arming yourself with accurate and timely information. You’ll enjoy nonstop access to that and much more by connecting with Boston City Properties. On this page, complete the simple form to sign up for access to our listings. As soon as you do, you can begin. First, select Chelsea from the list of locations. If you want to search multiple cities, towns or Boston neighborhoods, go ahead and select them too.

From there, refine your search further by adjusting filters for various attributes. You can input your preferences for things like price range, total number of beds and baths and total square footage. That way, the list of results will only include listings for properties that fall within those parameters. You will therefore have a much shorter, easier list to deal with. Open each listing to learn more about each property, and remember that our team is here to get answers for any questions that you may have about any properties that you find.

It won’t be long at all before you are zeroing in on a new house, condo, townhouse or apartment to buy or rent. When you are ready to go and look at properties, get in touch with Boston City Properties. We will refer you to a local real estate expert in Chelsea who can arrange tours of properties on your list. They can also help during negotiations to ensure that you get a fair price, and they will be there with you all the way through signing a lease or closing on a home. Should you have any questions in the meantime, don’t hesitate to contact Boston City Properties.

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