Highlights on the state of Bethesda’s residential real estate market for the month of December 2017:
Detached Homes
The median sale price for detached properties in December was $1,037,000, representing a roughly 7% increase from November and 9% jump year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda was 95 days, which is 35% higher than the 5-year December average. New contract activity decreased 10% from November and the Contract Ratio was 0.50 pending sales per active listing, up from 0.43 in November.
Townhouses
In December, the median sale price for townhouse properties in Bethesda was $975,000, 50% lower than the median for November but 39% higher year-over-year. On average, townhouse units were on the market for 99 days and the Contract Ratio was 0.40 pending sales per active listing, compared to 0.29 in November.
Condominiums
The median sale price for Bethesda condominiums in December was $355,000, representing a 9.2% increase from November and 12.3% increase year-over-year. The average days on market for condos was 62 days, 7% higher than the 5-year December average. New contract activity decreased 16.7% and the Contract Ratio was 0.36 pending sales per active listing, down from 0.41 in November.