CHEVY CHASE MD 20815 - REAL ESTATE TREND INDICATOR

By Roy Kelley

Industry Observer with Retired

September 15, 2009 07:34 AM

CHEVY CHASE MD 20815 - REAL ESTATE TREND INDICATOR

If you are thinking about buying or selling a home in zip code 20815, you should take a close look at the following report that compares the statistics for the past month with the same month last year. During the month, there were 156 active listings of homes for sale in 20815. There were 28 new listings in the area and 27 properties went to pending new contracts. There were 29 settlements as compared to 25 homes sold last year. The average sold price was $979,569. The median sold price was $802,500. The average sales price was 90.80% of the average list price. The average days on the market was 102 as compared to 90 days last year. Buyers have the largest selection and the lowest prices that have been available for several years. First time home buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009. All prospective purchasers that plan to use mortgage financing are advised to obtain pre-approval before submitting an offer. Contact us if you need a referral to a loan officer.

Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 20815 Chevy Chase, MD
From: 08/01/2009 to 08/31/2009 Statistics generated on: 09/09/2009

	Residential Unit Sales Number of Bedrooms	Active Listings		Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent	of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0	1 -30 Days	11
$100,000 - 149,999	0	0	0	0	0	0	0	0	31-60 Days	3
$150,000 - 199,999	0	0	0	0	0	0	5	0	61 - 90 Days	3
$200,000 - 249,999	0	0	0	0	0	0	4	0	91-120 Days	1
$250,000 - 299,999	0	0	0	2	0	0	6	0	Over 120 Days	11
$300,000 - 349,999	0	0	0	2	0	0	7	0	Total	29
$350,000 - 399,999	0	0	0	0	0	0	12	0
$400,000 - 449,999	0	0	0	1	0	0	3	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	0	0	0	0	0	3	0
$500,000 - 599,999	0	0	0	1	0	4	12	1	Conventional	16
$600,000 - 699,999	0	4	1	0	0	7	1	0	FHA	3
$700,000 - 799,999	0	1	2	0	0	6	4	0	VA	1
$800,000 - 899,999	0	2	0	0	0	10	2	0	Assumption	1
$900,000 - 999,999	0	1	1	0	0	3	2	0	Cash	7
$1,000,000 - 2,499,999	1	0	6	2	0	34	11	0	Owner Finance	0
$2,500,000 - 4,999,999	0	0	1	1	0	16	3	0	All Other	1
$5,000,000 & Over	0	0	0	0	0	0	0	0	Unreported	0
Totals	1	8	11	9	0	80	75	1	Total	29
Grand Totals	29	156

	2009	2008	% Change
Total Sold Dollar Volume:	$ 28,407,500	$ 24,611,400	15.42 %
Average Sold Price:	$ 979,569	$ 984,456	- 0.50 %
Median Sold Price:	$ 802,500	$ 875,000	- 8.29 %
Total Units Sold:	29	25	16.00 %
Average Days on Market:	102	90	13.33 %
Average List Price for Solds:	$ 1,078,852	$ 1,054,708	2.29 %
Avg Sale Price as a percentage of Avg List Price:	90.80 %	93.34 %

Total NEW listings:	28
Total Properties Marked Contract:	12
Total Properties Marked Contingent Contract:	15
Total NEW pendings (Contracts + Contingents):	27