Highlights on the state of Bethesda’s residential real estate market for the month of April 2018:
Detached Homes
The median sale price for detached properties in April was $1,097,500, up 9.3% from the prior month and 4.5% year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda in April was 49 days, which is 7% lower than the 5-year April average. New contract activity picked up 22.6% from March and the Contract Ratio was 0.73 pending sales per active listing, up from 0.66 in March.
Townhouses
In April, the median sale price for townhouse properties in Bethesda was $762,500, 46.6% higher than the previous month’s median and 31.8% lower year-over-year. On average, townhouse units were on the market for 25 days, 20% below the 5-year April average, and the Contract Ratio was 0.40 pending sales per active listing, up from 0.19 in March.
Condominiums
The median sale price for Bethesda condominiums in April was $341,000, representing a 9.1% increase from March and 13.6% decrease year-over-year. The average days on market for condos was 36 days, 25% below the 5-year April average. New contract activity decreased 14.7% from March and the Contract Ratio was 0.46 pending sales per active listing, slightly higher than the ratio in the previous month (0.44).
