Bethesda, MD Market Report – 11/9/09

09 Nov
November 9, 2009

With its diverse mix of condos, townhouses and single family houses all within walking distance to retail, restaurants and Metro stations, the housing market in Bethesda, Maryland is hot! First-time buyers and current homeowners wanting to get away from driving and cutting grass gravitate to Bethesda. Bethesda is also very close to downtown Washington, DC and all of the employment and cultural opportunities that the city offers.

The following statistics reflect the market conditions in Bethesda, Maryland:

  • Homes for sale: 299
  • Closed sales: 56
  • Average sales price: $695,753
  • Average days on market: 78

Prices in Bethesda have drifted down a little bit over the past two years but have not seen the radical declines of other outlying areas. The number of properties for sale is down 15% from one year ago. Meanwhile, over the past twelve months median and average price figures in Bethesda have tended to jump up and down dramatically from month to month depending on the product mix sold. So while the statistics for this market are equivocal, local real estate professionals know that this is a balanced market with an effective supply of about 4-5 months based on the present absorption rate.

A notable spot in the area is Bethesda Row. Bethesda row is a popular mixed-use development where you can do your shopping, have dinner, sit on outdoor benches or just stroll and people watch. All this and within walking distance of the Bethesda Metro Station, too.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Bethesda, and all of the DC Metro: www.averyhess.com

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