Median Asking Prices Of Bethesda Real Estate Jumps Up

It’s been awhile since I’ve written about Bethesda real estate, maybe even a month, give or take, so I figured it was time to get back in the saddle and update you as to what has been happening with homes currently on the market in Bethesda.  The first graph to look at today is the median asking price of homes for sale.  When we last looked at this area, the median value was right at $1.05 million dollars, which for most areas in America would be awesome, but for our community, is a bit lower than even a year or two ago.

Bethesda real estate median asking prices

But look at what has happened in the past month or so.  The most current value on the chart is over $1.14, a rise of almost $100,000.  It’s not abnormal that prices dip in the winter time and then rise in the spring, but this jump is quite high, and actually shows us a home value higher than that we saw in 2010, but not as high as where we were last year.

Bethesda real estate inventory levels

At the same time that the prices are rising for Bethesda homes for sale, it is interesting to note that the number of homes for sale has dropped significantly.  Almost as significantly as the spike in prices, very quick and very sharp.  In the very beginning of October, just a few months ago, there were 293 available units, but that number has dropped all the way down to 167, about 120 less than before.  Of course, before we get too excited and think that our local market is closer to being balanced, let’s keep in mind that is it only the first or second week in January, when many sellers have already taken their homes of the market and are just waiting until spring to put their homes back up for sale.  I wouldn’t be surprised to see a spike in inventory levels over the next month or two, possibly wiping out the drop we just witnessed.

About Rich Jones