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Market Update for Bethesda MD for April 2020

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

 

Bethesda, Maryland Real Estate Report/Housing Market

At A Glance: April 2020

 

 

Latest news on the Bethesda real estate market and what it means for you...

 

Bethesda, Maryland real estate report/snapshot for April 2020. The Bethesda housing market remained a seller's market in April 2020 with 1.9 months of inventory, down from the five year average of 3.3 months. Housing inventory was down to 197 active listings as compared with 315 listings in April 2019.   New listings (96 in April) decreased 43.5% from March 2020 and decreased 58.1% year-over-year.

 

Pending sales decreased 33 % in Bethesda in April 2020 compared with March 2020 and 51% from April 2019. Bethesda's closed sales increased 18.2% from March 2019 but decreased 3.7% year-over-year.

 

On average, homes sold in 24 days, down from 39 days compared with the same month one year ago (down 38.5%) and down from 40 days (down 40%) from the month of March 2020.  Median days on market were 7, down 41.7% year-over-year and down 30% month-over-month.

 

Average price of sold homes increased 9.8% year over year  to $944,357, while the median sale price increased  slightly (0.6%) year over year to $842,250.  The Average Price per square foot was $348, down 1.4 % year-over-year.

 

Sellers received 99.2% of listing price in final sale price (up from the 5 year average of 97.9%), showing minimal opportunity for buyers to negotiate.

 

  

Want to know what this would mean for your family if you decide to buy or sell a Bethesda home?

We can help.

Call us today at 240-401-5577 or email us at lise@lisehowe.com.  Our greatest joy is in helping you find that perfect home in Bethesda MD

 

 

SOME BETHESDA HOUSING MARKET HIGHLIGHTS:

APRIL 2020 VERSUS THE 5 YEAR AVERAGE

 

 

WANT MORE INFORMATION ABOUT BETHESDA?

 

Bethesda, MD is located adjacent to Washington, D.C. and is an urban core of Montgomery County, MD. Bethesda is one of the most affluent and highly educated communities in the United States. It is a vibrant town, and a destination for shopping, dining and artistic and cultural events. 

Bethesda Demographics (from the U.S. Census)

  • 2017 Population: 63,200
  • 2017 Households: 25,273
  • Median Age: 43.4
  • Owner Occupied Housing Unit Rate: 67.3%
  • Median Household Income: $154,559
  • 2017 Population 25+ Education Attainment - Bachelor's Degree: 83.7%

According to the Montgomery County Department of Parks & Planning Web site, Bethesda has a downtown workforce that exceeds 43,000.

The Bethesda Metro station, located in the heart of the downtown, handles more than 15,000 passengers on the average weekday. During weekends, more than 10,000 passengers pass through the station. The number of passengers exiting the Bethesda Metro station exceeds the number entering the station on both weekdays and weekends.

 
Major Employers

  • American Society of Health System-Pharmacists
  • The National Institutes of Health
  • Naval Support Activity Bethesda (Walter Reed)
  • Marriott International
  • Lockheed Martin
  • Johns Hopkins Suburban Hospital
  • Henry M. Johnson Foundation
  • Clark Construction Group
  • Howard Hughes Medical Center
  • Coventry Healthcare
  • Hospitality Partners
  • Diamondrock Hospitality
  • Host Hotels & Resorts
  • Total Wine
  • Comcast Sportsnet
  • Cystic Fibrosis Foundation
  • Pebblebrook Hotel Trus

 

SEARCH ALL BETHESDA, MD AREA HOMES HERE 

 Here is more information about some neighborhoods and buildings within Bethesda.

Single Family Homes in Bethesda

Westbard Mews

Kenwood Park

WONDERING WHAT YOUR BETHESDA AREA HOME IS WORTH?

We're happy to provide an expert home value analysis with no obligation on your part.

PAST BETHESDA MARKET UPDATES

Bethesda Market Update March 2020

Bethesda Condo Market Update May 2016

20816 Bethesda Market Update May 2017

Bethesda Market Update May 2018

 

 

Comments (12)

Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us informed and up to date. Wishing you a great weekend ahead! stay safe!

May 15, 2020 07:00 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lise and great market report for your area as always from you,  Hope you have a great day!

 

May 15, 2020 08:01 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Lise Howe buyers and sellers in Bethesda should appreciate the research you've provided for them, but most of all, you'll greatly appreciate the knowledge and professionalism you'll experience after you call Lise for guidance.....did I mention that Lise is also an attorney?  who knows more about real estate law than an attorney?  you'll have the entire team wrapped up in one person..... those who hire Lise never contact anyone else for anything related to real estate.... 

yikes....that was a lot to say, but there's more!!!!

May 15, 2020 08:02 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Bethesda is hopping and the lack of inventory makes it hard for buyers to be successful. They need an agent who understands the market and can guide them through it successfully like Lisa Howe

May 15, 2020 09:07 AM
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

Thank you for keeping us posted and up to date. Have a great weekend!

May 15, 2020 09:39 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for the kind comments Jeremy K. Frost - I hope you have a great weekend too

May 15, 2020 02:46 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Barbara Todaro - you are always so kind to me!  I wish I was nearby - I would ask you to market for me too!

May 15, 2020 02:47 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Nick Vandekar, 610-203-4543 - you are so kind to me!  Thanks for your generous words!!!  Have a great weekend

May 15, 2020 02:48 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Will Hamm - have a great weekend - what are you cooking this weekend?

May 15, 2020 02:48 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Joseph Doohan - thanks for your kind comments - I hope you have a great weekend in Las Vegas!

May 15, 2020 02:49 PM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It looks like your area needs a few more listings.  The home sellers that are in the market must be happy.  Thank you for the update.

May 15, 2020 02:56 PM
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Sally

 

May 19, 2020 11:30 PM