Highlights on the state of Bethesda’s residential real estate market for the month of February 2018:
Detached Homes
The median sale price for detached properties in February was $942,500, representing a roughly 5% increase from January and 24.0% decline year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda was 116 days, which is 31% higher than the 5-year February average. New contract activity decreased 46.3% from January and the Contract Ratio was 0.66 pending sales per active listing, up from 0.49 in the previous month.
Townhouses
In February, the median sale price for townhouse properties in Bethesda was $1,064,000, 11.3% lower than the median for January and 13.4% higher year-over-year. On average, townhouse units were on the market for 59 days and the Contract Ratio was 0.44 pending sales per active listing, unchanged from January.
Condominiums
The median sale price for Bethesda condominiums in February was $400,000, representing a 29.0% increase from January and 5.6% increase year-over-year. The average days on market for condos was 88 days, 12% higher than the 5-year February average. New contract activity decreased 3.8% and the Contract Ratio was 0.40 pending sales per active listing, slightly higher than the 0.39 Ratio in January.
