If you are a Bethesda condo homeowner or a buyer interested in moving into a condo in Bethesda, you probably have lots of questions about the real estate market. What do you need to know in order to make an informed decision about when (or even if) to buy and sell a condo in Bethesda.
At the end of 2019, there are lots of choices in the Bethesda market. There are new condos for sale at the Lauren at 4901 Hampden for approximately $3.5 million with 3200 square feet, the Stonehall on Woodmont for $2.2 million with 2100 square feet or the Cheval on Fairmont for $2.5 million with nearly 2400 square feet.
Here’s a snapshot of recent activity in the Bethesda condo market.
- 19 condos sold in November - compared to the 5 year average of 23 homes per month in November. This was down nearly 27% from the October level of 26.
- There were 61 condos on the market at the end of December 2019, ranging in price from $3.5 million to $139,000 for a one bedroom at the Promenade.
- There were 21 new listings in November as compared with 35 in October. The five year average of new condo listings in Bethesda in November is 25.
- Inventory is down this year with 432 listings year to date as compared with 453 condo listings during the same period in 2018.
The median sale price in November for a Bethesda condo is $298,000, which represents an increase of 2.5% from October’s level of $291,000 and a 23% increase over the previous year’s median sale price in November.
Days on Market:The average number of days on market in November 2019 was 44 days for a condo to go under contract. This is an improvement over October when the average days on market for a condo in Bethesda was 53 days.
To learn more about the real estate market in Bethesda, MD, please contact us at 240-401-5577 or email us at Lise@lisehowe.com.