Bethesda, Maryland Real Estate Market Update for October 2012

It’s been a slower-than-usual month for home sellers on the Bethesda, MD real estate market, according to the most recent data.

After all, homes are taking longer to sell than they have in the last several months and they’re selling for lower prices.

If you’re interested in learning more about recent activity on the Bethesda housing market, then please contact reading.

Properties for Sale in Bethesda

Here are some of the highlights from the most recent Bethesda housing market report:

  • Currently there are 8 sales pending on the market as well as 44 listings that are still for sale.
  • Properties priced between $600,000 and $800,000 have a relatively large inventory of properties for sale with 13 listings.
  • Properties within that price range also have a relatively large number of contracts pending sale.
  • The average list price for all properties on the market is $1,302,068.
  • During the last 6 months, a total of 113 contracts have closed with an average sold price of $915,063.
  • Those properties priced between $600,000 and $800,000 had the highest number of sold properties.
  • Also during the last six months, 3 properties have failed to sell.
  • Those properties priced between $600,000 and $800,000 had the highest number of failed listings with 1 property.
  • Active listings on the Bethesda real estate market have been on the market for an average of 69 days.
  • During the last six months, properties closed for an average of $915,063 after an average of 33 days.
  • Properties priced in the $600,000 to $800,000 have sold the quickest in the last six months.
  • During the last 30 days, the average sold price for properties was $778,618. Those properties spent an average of 52 days on the market.
  • Recent data suggests that there are is declining demand for Bethesda homes for sale.
  • The current absorption rate on the Bethesda real estate market indicates an available homes inventory of 2.3 months.

Investing in a Bethesda Home in Montgomery County

According to the recent data, the Bethesda housing market is certainly favoring the Montgomery County home buyer right now!

After all, since demand is less than it was before, home sellers will likely be more willing to negotiate with buyers in order to get their home sold.

If you’re interested in purchasing a Bethesda property anytime soon, please contact me, Melinda Estridge, today!

Until next time,

Melinda