Market Value Information Chevy Chase Maryland 20815
How much is your home in Chevy Chase worth?
Chevy Chase Maryland includes communities such as Chevy Chase Village, Somerset, Martins Addition, Friendship Heights, Kenwood Forest and Rollingwood. It is the first neighborhood as you cross into Maryland from the District on Wisconsin Avenue, and it is a perfect place to live if you work at Walter Reed.
To start your search for a home in Chevy Chase, just click here!
Are prices up or soaring? How long are homes staying on the market? What should you do to increase the value of your home? If you are thinking of selling your home this year, you need to know which way home values are going! Here is a snap shot of what home values were doing in the 20815 zipcode in May 2017.
MARKET INFORMATION FOR DETACHED PROPERTIES in CHEVY CHASE 20815
In 20815, the median sold price for Detached properties for May was $1,154,250, representing a decrease of 17.6% compared to last month and an increase of 9.3% from May 2016.
The average days on market for units sold in May was 52 days, 23% above the 5-year May average of 42 days.
There was no month over month change in new contract activity with 25 New Pendings; a 15.2% MoM increase in All Pendings (new contracts + contracts carried over from April) to 38; and a 1.4% increase in supply to 74 active units.
This activity resulted in a Contract Ratio of 0.51 pendings per active listing, up from 0.45 in April and a decrease from 0.73 in May 2016. The Contract Ratio is 31% lower than the 5-year May average of 0.73.
A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
MARKET INFORMATION FOR CONDOS in CHEVY CHASE 20815
In 20815, the median sold price for Condo & Coop properties for May was $539,000, representing a decrease of 1.8% compared to last month and a decrease of 20.1% from May 2016.
The average days on market for units sold in May was 79 days, 110% above the 5-year May average of 38 days.
There was a 5% month over month increase in new contract activity with 21 New Pendings; no MoM change in All Pendings (new contracts + contracts carried over from April) with 27; and a 16.7% increase in supply to 70 active units.
This activity resulted in a Contract Ratio of 0.39 pendings per active listing, down from 0.45 in April and an increase from 0.33 in May 2016.
The Contract Ratio is 47% lower than the 5-year May average of 0.73. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
HOW MUCH IS YOUR HOME WORTH IN CHEVY CHASE?
After you see all these stats, then you really want to know what the value of your home is! They may have changed the value of your home.
To find out how these numbers affect the price of your home in Chevy Chase please go to: Get the value of your home in Chevy Chase Md.
If you would like to find out how the Lise Howe Group will increase your bottom line when you sell your home, give us a call at 240-401-5577 or email us at lise@lisehowe.com.
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