Highlights on the state of Bethesda’s residential real estate market for the first month of 2018:
Detached Homes
The median sale price for detached properties in January was $895,000, representing a roughly 13% decrease from December and 1.4% decline year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda was 86 days, which is 9% higher than the 5-year January average. New contract activity decreased 6.8% from December and the Contract Ratio was 0.49 pending sales per active listing, down from 0.50 in the previous month.
Townhouses
In January, the median sale price for townhouse properties in Bethesda was $1,199,450, 23% higher than the median for December and 115.5% higher year-over-year. On average, townhouse units were on the market for 1 day and the Contract Ratio was 0.44 pending sales per active listing, compared to 0.40 in December.
Condominiums
The median sale price for Bethesda condominiums in Jauary was $310,000, representing a 12.7% decrease from December and 22.3% decrease year-over-year. The average days on market for condos was 59 days, 10% lower than the 5-year January average. New contract activity ticked up 4% and the Contract Ratio was 0.39 pending sales per active listing, slightly higher than the 0.36 Ratio in December.