Chevy Chase MD homes for sale see median asking prices drop

Part of my job description, as I see it, is to keep clients and even perspective clients, up to date with the most current market trends for local real estate markets.  As an example, yesterday, I looked at how prices were behaving in 20854.  But today, I wanted to check on the median asking price of Chevy Chase MD homes for sale, looking only at single family homes, not condos.

To get a full picture of just how the market is treating Chevy Chase, I looked at the median asking price over the past two years, charting both weekly data points as well as a rolling trend line, which is shown in gold.  The direction of this graph is pretty clear, and it really doesn’t take a rocket scientist to see where we are headed, or where we have been.

Chevy Chase MD homes for sale asking prices

Obviously, asking prices of homes in Chevy Chase MD have slipped, which is not an unexpected finding given the economic situation that surrounds us all.  But let’s look at some numbers and get a really good idea of just exactly how far things have moved.  Two years ago, in February of 2009, the median asking price for homes in 20815 was right around $1.425 million if we look at the weekly data points shown in black.  One year later, in 2010, that number had moved to somewhere around $1.25, maybe $1.3 million dollars, which is something close to a 12% drop.

Our most current measurement of median asking prices for Chevy Chase MD homes for sale showed up at $1.15 million dollars.  Compared to 2009, that is a drop of more than $300,000, or almost 20%!  If we look at 2010, the reduction is smaller, but still comes in over $100,000, or 8%.

Even with the recent price drops, Chevy Chase continues to be one of the most desirable areas in the entire DC area.  If you would like more information on homes in this area, please don’t hesitate to contact, and we will be happy to help.  In addition, please feel free to use any one of the pre-determined links in the sidebar to view homes for sale in your most desired community.

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