Bethesda Real Estate – Chevy Chase And Potomac Comparison

Bethesda real estate is often discusses as if it were a stand along market, not connected to any other locations or in close proximity to other areas.  But of course it is, which is why today’s post is showing three local communities so that we can compare and contrast their fortunes over the past two years.  The three areas that we will look at today are Bethesda, Chevy Chase and Potomac MD.

Bethesda real estate comparison chart

The first statistic to look at is the median asking price of Bethesda homes for sale, as well as the other two communities.  This graph shows two years worth of data with a rolling trend line for each area.  As you can see, Bethesda prices have dropped only a small bit in that time frame, with Chevy Chase properties the next in line, but Potomac seems to have fared the worst, with values falling from almost $1.45 million to under $1.3, a loss of over $150,000 on average.

Bethesda real estate inventory comparison chart

Next, let’s look  at inventory levels for the same three locations.  Interestingly, all three areas seems to be at the same levels of homes for sale as they were in 2009, or maybe even a little higher.  Of course, each locale is different sized from the next, so it’s not surprising that they are different from each other, but I would have liked to have seen their values today coming in lower, instead of the same or higher.

Lower inventory levels for Bethesda homes might have indicated that buyers were coming out and buying up some of the excess in the sellers side of the market, but that hasn’t happened.  Instead, it appears that there are still too many sellers for the number of buyers we have, which means that our market has not yet reached an equilibrium, and we are likely to continue seeing sliding asking prices.

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