As the summer season came to a close, Bethesda experienced higher median sale prices for detached, condo and townhouse properties and the number of days detached homes were listed on the market contracted for the second straight month. Both trends are likely a result of the tight level of housing inventory in Bethesda.
Here are additional insights from the August market activity report for Bethesda (Source: MarketStats by ShowingTime):
Detached Properties
*Median sale price: $1,125,000 (17.2% higher than July)
*Average days on market: 51 days, 8% lower than 5-year August average
*New contract activity: 5.9% decrease from July
Condos
*Median sale price: $315,000 (0.6% higher than July)
*Average days on market: 72 days, 41% higher than 5-year August average
*New contract activity: 16.7% decrease from July
Townhouses
*Median sale price: $712,500 (5.6% higher than July)
*Average days on market: 32 days, 80% higher than 5-year August average
*New contract activity: 200% increase from July
Want advice on buying or selling in Bethesda?
The Carolyn Homes Team are your Bethesda/Chevy Chase neighborhood experts – call Carolyn today at (240) 353-7601!