Chevy Chase, MD Market Report – 1/28/13

28 Jan
January 28, 2013

Chevy Chase, Maryland is the name of both a town, an unincorporated city.  A number of villages in the same area of Montgomery County also include Chevy Chase in their names.  The area is located on Connecticut Avenue north of Washington, DC and also includes a neighborhood in Washington, DC.

It is primarily a residential suburb with high end shopping including the area of Friendship Heights, restaurants and luxury living in single family homes, rental apartments and condos.

Let’s take a look at the December 2012 Real Estate Market Statistics for Chevy Chase:

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$44,494,050

+93.94%

+48.91%

Closed Sales

40

+37.93%

+48.15%

Median Sold Price

$905,000

+23.13%

+11.87%

Avg Sold Price

$1,112,351

+40.61%

+0.51%

Avg Days on Market

54 days

-11.48%

+42.11%

Avg Sold to Orig List Ratio

97.76%

+4.86%

+1.28%

As you can clearly see from the table above – Chevy Chase Maryland ended 2012 with marked improvement.  The Average Sold Price of $1,112,351 is up +40.61% over December of 2011.  This is a significant change and a sign that our market is gaining more and more strength.  The Average List Price for Solds also up to $1,133,111 from $817,972 which is a +53% increase.

Inventory remains low so if you are a home owner and are thinking about selling – the time maybe at hand.  Need some advice; give your local Avery-Hess agent a call.  I look forward to a brisk early spring market.

 

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

Tags: , ,
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply