It’s been a relatively good month for Chevy Chase area home sellers, according to recent market data.

After all, the data is indicating that home sales are relatively active on the market and a number of people are successfully selling their homes for prices close to their original asking price.

Continue reading to learn more about recent market activity in Chevy Chase to see how it may affect your home-selling efforts.

Chevy Chase Homes

Here’s a summary of the current state of the Chevy Chase real estate market:

• Currently there are 38 homes sales pending in Chevy Chase, as well as 145 listings that are still for sale.
• Those homes priced between $800,000 and $1 million have seen the largest number of closed contracts in recent weeks.
• Meanwhile, those homes priced under $200,000 still have the largest number of active listings with 35 properties.
• The average list price for all properties currently on the market is $1,056,000.
• During the last six months, a total of 183 contracts have closed, with an average selling price of $891,072.
• Those homes priced between $600,000 and $800,000 have seen the most numbers of listings sell during that time.
• Also during the last six months, 18 properties have failed to sell for whatever reason.
• Those homes priced under $200,000 saw the largest number of failed listings with 3 properties.
• Currently, active listings have been on the Chevy Chase real estate market for 98 days.
• Over the last six months, the average sold price for closed homes has been $891,072 – and they were on the market for an average of 60 days.
• Those properties priced between $1.4 million and $1.6 million have sold the quickest in the last six months.
• During the last 30 days, closed properties have sold for an average sold price of $985,283 and were on the market for an average of 42 days.
• Recent data suggests that demand is steadily rising for Chevy Chase homes for sale.
• The current absorption rate for the Chevy Chase real estate market indicates that there is about 4.8 months of housing inventory on the market.

Your Chevy Chase, MD REALTOR

I hope you found the above market information on the Chevy Chase housing market insightful.

As you can see, those homes in higher price ranges are selling much more easily, lately, than those homes in other price ranges.

Still, it appears that all homes in all price ranges are selling quicker and for a better price than they were six months ago!

For more expert advice on how you can successfully navigate the Chevy Chase housing market in order to secure the best outcome for you as a home seller, please contact me, Melinda Estridge today!

Until next time,

Melinda