Chevy Chase, Maryland Real Estate Market Report for October

Just as with the nearby Bethesda housing market, the Chevy Chase real estate market appears to be experiencing a somewhat slow period in terms of home sales.

This may just be credited to seasonal change since real estate activity tends to be slower in the fall and winter. Or it may be a sign of something else.

Either way, now is a great time to be a Chevy Chase home buyer. Continue reading to learn why!

Chevy Chase, Maryland Real Estate

Here’s a quick overview of the current state of the Chevy Chase, MD real estate market, based on the most recent data:

  • Currently there are 12 sales pending on the market as well as 61 active listings.
  • Properties priced between $1.5 million and $1.8 million have the largest number of pending contracts for sale.
  • Meanwhile, properties priced between $600,000 and $900,000 has the largest number of available listings for sale with 18.
  • Currently the average list price for all properties is $1,475,222.
  • In the last six months, 136 properties have closed with an average sold price of $1,287,033.
  • Properties priced between $600,000 and $900,000 have had the highest number of sold listings in that time period.
  • Meanwhile, 8 listings have failed to sell during that period for one reason or another.
  • Those properties priced in the $900,000 to $1.2 million price range had the highest number of off-market listings with 3 properties.
  • Active listings on the Chevy Chase real estate market have been on the market for an average of 78 days.
  • In the last six months, sold properties were on the market for an average of 51 days and sold for an average price of $1,287,033.
  • During the last six months, those properties priced between $900,000 and $1.2 million sold the quickest.
  • During the last 30 days, properties were on the market for 60 days before selling for an average price of $1,376,179.
  • Recent market data suggests declining demand for Chevy Chase homes in the last six months.
  • The current absorption rate suggests a housing inventory of about 2.7 months.

Your Dedicated Chevy Chase, Maryland REALTOR

Hopefully you found the above information helpful and insightful as a prospective home buyer.

If you’re ready to take the next step toward owning your own piece of Chevy Chase real estate, then please contact me, Melinda Estridge, today!

I’ll be happy to help you with all of your Montgomery County home-buying needs by providing you with expert advice as well as such helpful tools as:

Until next time,

Melinda