In April of 2010 there were 24 homes that closed within the month for 20815 Chevy Chase, Maryland. This was an increase of 4 units, as there were 20 homes that closed in April of 2009.
The average list price for homes that closed in April of 2009 was $$1,030,644
The average list price for homes that closed in April of 2010 was $947,807
The average sale price for the homes that closed in April 2009 was $918,867
The average sale price for the homes that closed in April 2010 was $871,083
The average Days on Market for homes that closed in April 2009 was 142 days.
The average Days on Market for homes that closed in April 2010 was 104 days.
50 homes went under contract in 20815 Chevy Chase in the month of April 2010. The average list price of homes that went under contract was $876,988. The average Days on Market for these 20815 Chevy Chase homes was 63 days.
January - December 2008 & 2009 Market Statistics for 20815 Chevy Chase, MD
In 20815 Chevy Chase, MD for the period of January to December 2008 there were 320 properties sold.
In 20815 Chevy Chase, MD for the period of January to December 2009 there were 329 properties sold.
In 20815 Chevy Chase, MD for the period of January to December 2008 the average list price was $1,033,132, the average sales price was $963,838 and the average Days on Market was 66.67 days.
In 20815 Chevy Chase, MD for the period of January to December 2009 the average list price was $980,964, the average sales price was $899,101 and the average Days on Market was 95.02 days.
So, what does all of this mean?
While the average sales price in 20815 Chevy Chase did drop significantly over the last year, much of this can be attibuted to the slow down in upper-end sales. You'll also note that the gap between asking price and final sales price narrowed from a difference of approx. $111,877 in 2009 to $76,724 in 2010, signaling that sellers are slowly coming around to the new realities of the market (and pricing things smarter from the get-go). Days on Market have dropped substantially over the last year, and especially this April for homes under contract. Combine this with extremely low inventory, and we have the makings of a very active spring market.
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