East Bethesda Absorption Rate
I specialize in selling real estate in East Bethesda. I've lived in the neighborhood for almost 15 years, raised kids here, and will probably remain in the neighborhood for the foreseeable future. Because of this, I keep close tabs on the inventory.
I like to track trends in real estate. You'll occasionally hear me mention that "we have a 4.5 months supply of homes for sale", which might leave you scratching your head. In a nut shell, I'm referring to the absorption rate, or the calculation of how long it will take for all the homes currently on the market to sell at the present rate of sales. It is not an exact science. But it does help to predict market trends.
In Bethesda 20814 we currently have an absorption rate of 2.2 months. In East Bethesda specifically (the area bordered by Wisconsin Avenue, Jones Bridge Road, Columbia Country Club and the East West Highway), the absorption rate is 1.02 months! A 5-month supply of homes is considered pretty healthy. What we have in East Bethesda is woeful lack of inventory.
There are currently 8 homes for sale in East Bethesda. Four of them have been on the market for over 100 days. Given the lack of homes for sale, it's safe to say that these homes are either over-priced or very buyer specific. Will these homes sell within the month? It's unlikely. But the new crop of listings, as long as they are properly appointed and priced, will probably sell quite briskly.
When it comes to buying or selling real estate in East Bethesda, I can be of immeasurable assistance. Please give me a call if you are in the market.