With the summer season solidly underway, new contract activity in Bethesda’s residential real estate market declined during the month of July. Nevertheless, homes that were on the market sold in a shorter amount of time, on average.
Here are additional insights from the July market activity report for Bethesda (Source: MarketStats by ShowingTime):
Detached Properties
*Median sold price: $960,000/change from June: down 8.6%
*Average days on market: 41 days/change from 5-year average: 10% lower
*New contract activity: 31.1% lower than June
Townhouses
*Median sold price $675,000/change from June: down 15%
*Average days on market: 15 days/change from 5-year average: 48% lower
*New contract activity: 71.4% lower than June
Condominiums
*Median sold price: $313,000/change from June: 9.4% higher
*Average days on market: 51 days/change from 5-year average: 12% lower
*New contract activity: 30.2% lower than June
Want advice on buying or selling in Bethesda? The Carolyn Homes Team is your Bethesda-Chevy Chase neighborhood expert – call Carolyn today at (240) 353-7601!