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Real EState Report for East Bethesda 2011
Happy holidays, East Bethesda. It’s time for the annual wrap up. 2011 numbers have held steady from 2010, inching up a modest 0.6%. This isn’t a bad thing. Prices rose by 6.3% in 2010 – the first increase in 3 years. Given the continuing turmoil in the rest of the country, the plateau is a welcome relief.
The 2011 average sales price in East Bethesda was $903,951, with a total of 44 transactions. That’s a 7% increase in volume over 2010 when we had 41 sales averaging $898,224.
Mortgage rates are hovering just under 4% for a 30-year fixed rate (up to $729K). How low can they go? Now is the time to buy or refinance.
Inventory is low. There are currently 5 active listings in the neighborhood ranging from $575,000 - $1,865,000 (3 listings are over $1-million & 2 under). Now is a good time to sell. Three of my four East Bethesda listings this last year received multiple bids and sold for more than the asking price. Price it right, spiff it up, and it should sell quickly.
The graph below is full of statistics about the East Bethesda market place.
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