In 20814, the median sold price for Condo & Coop properties for October was $335,000, representing an increase of 8.1% compared to last month and an increase of 4.7% from Oct 2017.
There was a 14.3% month over month increase in new contract activity with 16 New Pendings; a 16.7% MoM decrease in All Pendings (new contracts + contracts carried over from September) to 15; and a 2.6% increase in supply to 80 active units.
This activity resulted in a Contract Ratio of 0.19 pendings per active listing, down from 0.23 in September and a decrease from 0.25 in October 2017. The Contract Ratio is 34% lower than the 5-year October average of 0.29. 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.
There is a wide range of choices for condos and coops in the 20814 zip code. Coops at the Promenade on Pooks Hill offer lots of space, amenities and green views. Prices at the The Promenade range from the mid $150's for a one bedroom coop (with 981 square feet of space and nearly $1100 in coop fees) to $650,000 for a three bedroom two bath coop. On the other end of the spectrum are the new condos at the Lauren. A model home there with three bedrooms and four and a half baths is being offered for $4,150,000. It has over 3150 square feet of living space, a separate dining room, den, three balconies, direct access by elevator into the unit, large laundry room, and parking. With walnut hardwood floors, limeston eand marble flooring in other areas, a gas fireplace, Wolf, Subzero, Bosch and Miele appliances, marble countertops in the kitchen and a home automation system, this condo offers a special opportunity to live in downtown Bethesda.
Other new high end buildings in Bethesda in addition to the Lauren include the Stonehall, the Cheval, and Hampden Row. Older buildings with lower price points include the Whitehall, Parkside, Fairmont Plaza and City Commons of Bethesda.
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