What is going on with the Chevy Chase 20815 Real Estate market in August 2015? The good news is that it is behaving exactly as it should. Sales were off slightly in August as they are every year when all the buyers take a last summer vacation, but the buyers do return and October always turns out to be a very good month for putting properties under contract! July was very strong this year, reflecting lots of buyer activity. I am hopeful that the July numbers mean a robust fall market. Lets see how it turns out.
The other bit of data worth considering is that after January did not see a bump in prices although there was a good bump in April and another in July with the other months remaining relatively flat over the last few months. We are still in a seller market with only 2.6 months of supply as opposed to the 5 year average of 2.5 months of supply. The final piece of information to be mindful of is that days on market is trending upward slightly. Clearly this is not the market for a seller to set the top price on his listing and expect to get it. In markets like this it is even more important to price it correctly.
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