Highlights on the state of Bethesda’s residential real estate market for the month of May 2018:
Detached Homes
The median sale price for detached Bethesda homes in May was $957,000, a 12.8% decline from the prior month and 1.3% drop year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda in May was 43 days, which is the same as the 5-year May average. New contract activity picked up 2.6% from April and the Contract Ratio was 0.78 pending sales per active listing, up from 0.73 in April.
Townhouses
In May, the median sale price for Bethesda townhouse properties was $1,150,000, 50.8% higher than the previous month’s median and 59.7% higher year-over-year. On average, townhouse units were on the market for 37 days, 20% below the 5-year May average, and the Contract Ratio was 0.27 pending sales per active listing, down from 0.40 in April.
Condominiums
The median sale price for Bethesda condominiums in May was $325,000, representing a 4.7% decrease from April and 21.7% decline year-over-year. The average days on market for condos was 39 days, 22% below the 5-year May average. New contract activity decreased 17.2% from April and the Contract Ratio was 0.34 pending sales per active listing, down from 0.46 in April.
