Chevy Chase, MD Market Report – 1/18/12

18 Jan
January 18, 2012

Chevy Chase, Maryland is both a town and an unincorporated city. It is primarily a residential suburb with high end shopping, restaurants and luxury living in single-family homes, rental apartments and condos.

At one time, many of the smaller houses in Chevy Chase were being torn down and large “McMansions” were being built in their place, but this seems to have slowed with the turn in the real estate market.  However, homes, apartments and condos in the Chevy Chase area are still in high demand and bring high prices.

There seems to be an upturn in the market in recent months as indicated in the chart below.

Wondering why prices seem so high?  Chevy Chase’s close proxcimity to Washington D.C. makes it an expensive area to live with a highter median household income compared to the rest of Maryland.

Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.

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

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