Bethesda, MD Market Report – 9/30/13

30 Sep
September 30, 2013

 

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$16,083,200

+52.17%

-37.42%

Closed Sales

18

+50%

-43.75%

Median Sold Price

$862,000

+2.01%

+8.91%

Avg Sold Price

$893,511

+1.44%

+11.26%

Avg Days on Market

18 days

-57.14%

-35.71%

Avg Sold to Orig List Ratio

99.06%

+2.1%

-0.1%

The statistics in the chart above reflect the total Real Estate market, including Condos, Townhomes and Detached Single Family homes. Since the majority of the business in this part of Bethesda is in the Detached Single Family area, I will be drilling down and discussing these numbers specifically. 

DETACHED SINGLE FAMILY:  In the 20816 area of Bethesda, Maryland, the median sold price for Detached properties for August was $972,500, representing an increase of 14.1% compared to last month and an increase of 9.3% from Aug 2012. The average days on market for units sold in August was 20 days, 43% below the 5-year August average of 35 days. There was a 20% month over month (MoM) decrease in new contract activity with 8 New Pendings; a 31.3% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 11; and a 12% decrease in supply to 22 active units. This activity resulted in a Contract Ratio of 0.50 pendings per active listing, no change from July and no change from August 2012. The Contract Ratio is 22% higher than the 5-year August average of 0.41.  A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor.

A bit more about Bethesda:

Bethesda, Maryland is in southern Montgomery County just northwest of Washington, D.C.  The National Institutes of Health and the Walter Reed National Military Medical Center call Bethesda home.  Many other important institutions and corporations also chose to locate in Bethesda because of its proximity to Washington and the 270 corridor.  Much of the west side of Bethesda has been developed into the area called Bethesda Row with stores, unique boutiques, day spas, salons, live theater, galleries restaurants, and movie theaters.  This is a very active and vibrant area.   The Capital Crescent Trail starts in the heart of Bethesda and follows the old B & O railroad tracks from Georgetown to Silver Spring.  Bethesda is also home to Congressional Country Club, one of the most prestigious country clubs in the world as well as Burning Tree Country Club.

 

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

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