Demand for available homes for sale continues to grow on the Bethesda real estate market, even as the supply of available homes decreases.
This suggests that while home prices are relatively low right now, they may begin to rise in the future.
Continue reading to learn more about the current state of the Bethesda housing market to see how it may affect you as a Montgomery County home buyer.
Incredible Homes for Sale Now in Bethesda
Here’s a brief summary of the recent activity we’ve seen on the Bethesda real estate market:
- Currently, there are 40 homes under contract in Bethesda, as well as 131 listings still for sale.
- The average list price for all properties in Bethesda right now is $743,596.
- Recently, the largest number of homes under contract has fallen into the $600,000 to $800,000 range.
- Meanwhile, the $200,000 to $400,000 price range still has a relatively large number of properties for sale with 31 listings.
- During the last 6 months, 166 contracts have closed, with an average sold price of $686,282.
- During that period, the $200,000 to $400,000 price range saw the highest number of sold listings.
- Also during the last six months, 18 listings have failed to sell.
- The under $200,000 price range had the largest number of these failed listings with 7 properties.
- Currently, active listings have been on the market for an average of 84 days.
- During the last six months, properties were on the Bethesda housing market for an average of 62 days before they sold.
- During that period, those homes priced between $2 million and $2.2 million sold the quickest.
- In the last 30 days, properties were on the Bethesda real estate market for an average of 57 days before they sold.
- Thus, recent data suggests that there is increasing demand on the Bethesda real estate market for homes.
- Currently, the Bethesda housing market has a 4.7 months supply of homes for sale.
Your Bethesda, MD REALTOR for Life
As I previously mentioned, recent market activity in this Montgomery County community suggests that demand for homes is growing while the supply of available homes is shrinking.
This will undoubtedly lead to an increase in home prices in the future as demand continues to exceed supply.
Thus, if you’re interested in getting a great deal on a Bethesda home for sale, now would be a fantastic time to enter the market!
Contact me, Melinda Estridge, today and I’ll be happy to discuss with you further the best way to navigate the local housing market as a buyer.
You may also want to check out some of the invaluable home-buying resources I Offer online, including:
Until next time,
Melinda
