Chevy Chase, MD Real Estate Market Update for January

The month of December continued to be a great month for Chevy Chase area home buyers, based on the most recent real estate market data.

That’s because activity on the local housing market remained slow, while average days on the market remained high.

Continue reading to learn more about recent Chevy Chase real estate market activity, and why it will likely prove advantageous to buyers like you.

Chevy Chase Homes for Sale

Here’s a look at the most recent trends on the Chevy Chase real estate market, based on recent market data:

  • Currently there are 4 sales pending and 64 active listings on the market.
  • The $600,000 to $900,000 price range saw the most activity during this time, based on the number of pending contracts in this range.
  • The average list price for all properties on the Chevy Chase real estate market is $1,435,020.
  • During the last six months, 106 contracts have closed.  The majority of those contracts fell within the $600,000 to $900,000 range.
  • The average sold price on those 106 homes was $1,092,596.
  • During that same period, 9 listings failed to sell for one reason or another.
  • Currently, the average number of days on the market for active listings in Chevy Chase is 109 days.
  • During the last six months, the average number of days on the market for sold properties has been 40 days.
  • Properties in the $2.1 to $2.4 million price range have sold the fastest over the last six months.
  • Currently, there is a 3.6 month housing inventory on the Chevy Chase real estate market.

Your Chevy Chase Real Estate Experts

The housing inventory alone suggests that it’s a slow time on the Chevy Chase real estate market for area home sellers.

While this is bad news for them, it’s great news for interested home buyers like you.

After all, home sellers are interested in selling their home in as little time as possible so they can move on to their next home.

But  right now, homes for sale in this area are staying on the market for more than 3 months!

This will likely cause interested home sellers to drop their list price in order to attract more buyers.  This is advantageous for home buyers because it means they stand to get a great deal on an impressive Chevy Chase estate.

For more information on how recent market activity may affect you – or for expert advice on how to effectively navigate the Chevy Chase real estate market – contact me, Melinda Estridge.

When you call, my team of Chevy Chase REALTORS and I will be happy to answer any questions you may have as well as provide you with such helpful tools as:

Until next time,

Melinda