Now is a great time to invest in a Chevy Chase home for sale, based on recent real estate market data.
All the recent information indicates that there is relatively low demand for Chevy Chase homes for sale, which is causing list prices to decrease overtime.
This means that those Chevy Chase home buyers who enter the market now stand to get a great deal on a Maryland home for sale.
Continue reading to learn more about this recent development in Chevy Chase, Maryland.
Chevy Chase Homes
Here’s a look at the most recent Chevy Chase real estate market data:
- Currently there are 123 active listings on the market as well as 11 pending sales.
- The $800,000 to $1,000,000 price range seems to have the largest number of pending sales right now.
- What’s more, the $200,000 and under price range has a relatively large inventory of homes for sale. There are 28 listings in that category.
- The average list price for all properties on the Chevy Chase real estate market is $996,299 right now.
- Within the last six months, 150 contracts have closed in this Maryland community.
- The average price on these homes sold has been $854,066.
- Within the last six months, the $200,000 to $400,000 price range has seen one of the highest number of sold listings.
- During that same six month period, about 20 listings have not sold.
- The $200,000 and under price range saw the most number of failed listings with 5 properties.
- Current active listings have been on the market for an average of 151 days.
- During the last six months, the average sold price of homes has been $854,066 while the average days on the market have been 53.
- Properties priced between $2 million and $2.5 million sold the quickest in the last six months in Chevy Chase.
- Meanwhile, the average sold price for homes sold in the last month has been $756,152, while the average days on the market has been 69.
- By comparing the date from the last six months to the last month, we see that the demand for Chevy Chase homes has decreased
- Currently, the housing inventory number for Chevy Chase, MD is about 4.9 months.
Relocate to Chevy Chase, MD Today!
Just like in Bethesda, MD, it certainly is a home buyer’s market here in Chevy Chase.
If you’ve been thinking about investing in Chevy Chase real estate lately, I recommend you do it now while prices are still at unprecedented lows.
For more expert advice on the best way to navigate the local housing market, contact me, Melinda Estridge, today!
As your Chevy Chase area REALTOR, I’ll be happy to answer any questions you may have as well as offer you such helpful Maryland home buying resources as:
Until next time,
Melinda
