Original Source: Bethesda 20814 Market Report, August 2010
In August of 2010 there were 16 homes that closed within the month for 20814 Bethesda, Maryland. This was a decrease of 22 units, as there were 38 homes that closed in August of 2009.
The average list price for homes that closed in August 2009 was $782,461 The average list price for homes that closed in August 2010 was $704,418
The average sale price for the homes that closed in August 2009 was $701,735 The average sale price for the homes that closed in August 2010 was <!--more-->$656,306
The average Days on Market for homes that closed in August 2009 was 64 days. The average Days on Market for homes that closed in August 2010 was 86 days.
29 homes went under contract in 20814 Bethesda in the month of August 2010. The average list price of homes that went under contract was $843,948. The average Days on Market for these 20814 Bethesda homes was 84 days.
January – December 2008 & 2009 Market Statistics for 20814 Bethesda, MD
In 20814 Bethesda, MD for the period of January to December 2008 there were 309 properties sold. In 20814 Bethesda, MD for the period of January to December 2009 there were 351 properties sold.
In 20814 Bethesda, MD for the period of January to December 2008 the average list price was $731,471, the average sales price was $681,128 and the average Days on Market was 81.3 days.
In 20814 Bethesda, MD for the period of January to December 2009 the average list price was $741,281, the average sales price was $679,886and the average Days on Market was 73.6 days.
So, what does all of this mean?
We've had a real slow down this summer. This was predicted by the National Association of Realtors (NAR), and is largely a result of the first-time home buyer tax credit offered this Spring. The summer months are typically slower, so no need to panic! The average sales price is down by about $50K from 2009. This has been a consistent trend for the past 4 months. Properties under contract in the Month of August are skewing higher (avg. list price of $843,948) but this can be attributed to a single sale in Edgemoor listed at $4,900,000. Take this house out of the equation, and the average list price for homes under contract is a more modest $699,089. Inventory remains quite low, and well priced and appointed homes are selling briskly.
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