Bethesda Real Estate Market Update

The Bethesda real estate market doesn’t appear to be much different today than what it looked like two years ago.  Granted, there were plenty of ups and downs over that time period, but by and large, many of the statistics that I look at on a regular basis are relatively close to where they were in early June of 2009.

Bethesda real estate asking prices chart

The first data point I will share with you for the Bethesda real estate market is the asking price of homes that are actively for sale.  Previous June measurements were $1.1 million in 2009, and $1.2 million in 2010.  The most recent data point that I had access to showed up at $1.06 mil, which, given all of the economic downturns and turmoil in our county over the past few years, really isn’t as bad as I many might have expected.  And when you compare Bethesda’s numbers with other communities, around D.C., or across the country, you will realize that it could have been much worse.

Bethesda real estate inventory levels

One more of my favorite statistics to track is inventory levels.  For the Bethesda real estate market, last year was kind to us, but not so much this year.  In 2009, there were approximately 305 homes for sale in Bethesda.  After spending much of the past 24 months at levels well below 225 homes, we have seen this past spring bring a lot of new listings on to the market, and now we have about 320 homes for sale in our community.  While the rise in inventory levels has been steep, we are just about where we were in 2009, and with a bit of big picture thinking, shouldn’t be too upset.

Bethesda real estate days on market measurement

Here is the final graph that I will share with you today in my short review of the Bethesda real estate market.  This chart shows how long homes have been staying on the market.  As you can see, we are actually seeing homes leaving the market quicker today than they have been in quite some time.  Which is very good news, especially if you are a seller.

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