Chevy Chase Real Estate Market Update for March

Just like in Bethesda, Maryland, it was a great month to be a home buyer on the Chevy Chase real estate market.

That’s because recent data suggests the market is still very much a buyer’s market.

Continue reading to learn more about recent Chevy Chase housing market activity to discover how it may affect you as a home buyer.

Properties for Sale in Chevy Chase, MD

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

  • Currently there are 30 sales pending on the market as well as 141 listings.
  • The $400,000 to $600,000 price range has the largest number of pending contracts.
  • Meanwhile, the $0 to $200,000 price ragne has the largest number of home listings with 35.
  • The average listing price for all properties in Chevy Chase right now is $945,862.
  • During the last 6 months, 137 contracts have closed, with an average sold price of $782,164.
  • During that period, the $200,00 to $400,000 price range saw the largest number of sold listings.
  • Also during that period, 18 listings have failed to sell, with the largest percentage of those listings coming from the $0 to $200,000 price range.
  • During the last 6 months, sold properties have sold for an average of $782,164 and had been on the market an average of 60 days when they sold.
  • Those homes priced between $2 million and $2.2 million have sold the fastest in the last six months.
  • In comparison, in the last 30 days, sold properties have sold for an average of $816,846 and had been on the market an average of 87 days when they sold.
  • Right now, current active listings have been on the market an average of 122 days.
  • Based on recent data, there is a 6.2 month supply of homes on the Chevy Chase real estate market.

Your Chevy Chase, MD REALTOR

Although the average sales price on Chevy Chase homes has increased over the last six months, the average number of days on the market has also increased.

This means that it’s taking longer for home owners to sell their home, which may motivate some to drop their list prices.

Navigating the market searching for a great deal on a Chevy Chase home can be a complicated process for any Maryland home buyer.

That’s why it helps to work with an experienced Chevy Chase REALTOR like me, Melinda Estridge.

Contact me today to learn more about how I can help you. While you’re at it, make sure to browse some of the resource I offer online, such as:

Until next time,

Melinda