Bethesda Real Estate Median Asking Price Update

National housing stats were released today, and they were not impressive.  In fact, I believe they may have marked some of the worst numbers we have seen in some time.  At a time when people are focusing on national news, why not break down the numbers a little bit and see what’s happening more locally, here in the Bethesda real estate market.

Bethesda real estate 2 yr pricing chart

The graph above is by no means an awesome result for home sellers in Bethesda, but considering that many areas across our country are seeing large declines in property values, this could be much worse.  The graph above shows two years of data of asking prices of homes for sale in Bethesda, with two types of data tracked.  In black we see weekly data points, and in gold, we see a trend line, which is calculated by taking 90 days worth of numbers and averaging them out, and then the next week, doing the same thing.

If we look at the trend line first, we will see that the graphed value two years ago was right at $1.15 million, and the most current value is $1.2 million, a drop of $30,000.  While that is still a drop, which most sellers would consider to be the wrong direction, it is a relatively small drop.  Remember to think about how bad some other markets have it, and then you might feel better.  The story is much the same for weekly data points, with a relatively small decline over the past 24 months.

Bethesda luxury real estate 2 yr pricing chart

The first graph we looked at was for the entire group of homes for sale in Bethesda, but this graph is showing values from only the most expensive 25% of homes available for sale in the Bethesda real estate market, what some would call Bethesda luxury real estate.  What ever you call this group, you will see quite a bit of volatility, as prices really seem to bounce around.  And the worst part?  Weekly data points show that asking prices for this group of homes has dropped $200,000 in the past two years.

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