Single Family Homes Sold in September, 2007 - Bethesda, MD (Montgomery County) 20816
| Close Date | Original Price | Price at Sale | Sold Price | Discount | Subsidy | DOM | Address | Subdivision |
| 9/28/2007 | $599,500 | $599,500 | $580,000 | 97% | $0 | 66 | 5208 VENTNOR RD | GREENACRES |
| 9/25/2007 | $625,000 | $625,000 | $600,000 | 96% | $0 | 6 | 4808 PARK AVE | AMERICAN UNIV PARK |
| 9/14/2007 | $795,000 | $795,000 | $790,000 | 99% | $0 | 26 | 6212 WALHONDING RD | GLEN ECHO HEIGHTS |
| 9/17/2007 | $985,000 | $985,000 | $1,106,000 | 112% | $0 | 9 | 5303 WRILEY RD | WESTHAVEN |
| 9/14/2007 | $1,175,000 | $1,175,000 | $1,205,000 | 103% | $0 | 4 | 5108 BALTAN RD | SUMNER |
| 9/13/2007 | $1,357,500 | $1,357,500 | $1,357,500 | 100% | $0 | 0 | 4414 CHALFONT PL | WESTMORELAND HILLS |
| 9/27/2007 | $2,595,000 | $2,475,000 | $2,375,000 | 92% | $25,000 | 101 | 5113 WAPAKONETA RD | GLEN ECHO HEIGHTS |
What does it mean?
In September, there were only 7 sales this year vs 16 last year. So the volume of sales was down for Bethesda real estate in 20816 by 56%. That's a hefty drop in volume. Yet both the average sold price and the median sold price were up by double digits. Why? Look at the distribution of the sales above and notice that more of them were over $1M and that one was for over $2M. That is pushing up the pricing in the zip code as more and more sales reach over that $1M mark.
The column marked discount means that the seller got that much of their asking price. Ventnor was priced at $599,500 to begin with and sold for less at $580,000. They got 97% of their asking price. Sometimes this is misleading in advertising since they tell you the PRICE AT SALE figure as opposed to the original list price. Makes a big difference in what the seller actually got as a % of asking price.
Look at those over 100% Those were multiple offers for Bethesda real estate, which we are still seeing on property at all price points if their location and condition are good. I've written more multiple offers than not lately!
The subsidy column is what the seller gives back in closing cost credit or repairs. The trend this month was towards no subsidy with a reduction in price or there were multiple offers, therefore no subsidy.
This market statistics data for real estate in Bethesda is important to sellers because it's how you are going to realistically price your home in Bethesda and set your expectations as to how much you might expect to get. And for buyers it can show your advantage in getting a price reduction on your offer or level set your expectations about what you are going to pay. It might not be what you want to hear because it doesn't conform with the national press, but it will help you get a home!
November 3, 2007
Information Source: MRIS - Information is deemed reliable but not guaranteed.
For more information about real estate sales in Bethesda, MD 20816 please email me at josette.skilling@longandfoster.com or visit my website at www.josetteskilling.com
All data courtesy of:
Josette Skilling, Realtor
Long & Foster Real Estate, Inc.
4733 Bethesda Avenue
Bethesda, MD 20814
301-385-9213 (cell)
240-497-1700 (office)
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