Bethesda Condo Market Report February 2020-by the Bethesda Condo Queen

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

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 MD?

At the end of February 2020, there are lots of choices in the Bethesda market. 

Here’s a snapshot of recent activity in the Bethesda condo market.

Inventory:

  •           21 condos sold in February 2020 as compared to 17 in January 2020 and 23 in February 2019.  The five year average for February is 20.  Year to date 38 have sold, compared with 40 in the same time period in 2019.
  •           There were 42 new listings in the month of February, which was a 16.7% increase from 36 in January and a 31.3% increase from Feburary 2019.  The five year average for February is 34.  This increase in inventory suggests that sellers are gaining confidence that they can find their new home - and that they think the sales prices are attractive!
  • There were 65 condos on the market at the end of February - Compared to January's figure of 62 but down from February 2019 which was 75, similar to the 5 year average of 78.
  •       There were 36 new pending sales in February,  and increase of 63.6% over January.  The five year average of new pending condo sales in Bethesda in February is 27.

Click here to view currently listed condos in Bethesda

Prices:

The median sale price in February  for a Bethesda condo is $250,000, which represents a decreae of 18% from January's level of $305,000 and 12.3% from February 2019's level of 285,000.  .  However, the February 5 year average sale price was $326,650.

Days on Market:

The average number of days on market in February 2020 was 57 days for a condo to go under contract as compared to January 2020's 52 days and February 2019.  The five year average days on market for February is 69 days.
WHAT DOES THIS MEAN FOR BUYERS AND SELLERS?

  • This market activity resulted in a contract ratio of .60 properties under contract per active listing.  This is an increase from .44 in January 2020 and .45 in February 2019.  The contract ratio is also .27 percent higher than the February 5 year average of .47.  A higher contract ratio signifies a relative increase contract activity relative to the supply of active listings and indicates that the market is moving in the seller's favor.

     

    Please click here to see all the condo and coop properties for sale in Bethesda. Want more space? Just click here for all the single family homes and townhouses.

     

    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.   

 

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Ambassador
3,188,232
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I am glad you have finally taken the honor of the Bethesda Condo Queen (BCQ) designation 🤔...

Happy Tuesday morning Lise Howe 

Mar 24, 2020 09:43 AM #1
Rainmaker
5,264,272
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Hi Lise Howe I'm sure those who are seriously interested in the state of the condo market in the Bethesda area already know who to contact for guidance....none other than Lise Howe.... and that's where her title of Queen of Condos in Bethesda originates..... she's the one most condo buyers contacted.... thus, The Queen of Condo was created by them.... she did not create that.... the buyers did.... one condo buyer at a time....and the masses were created....  

Mar 24, 2020 10:29 AM #2
Rainmaker
2,083,179
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Lise Howe - you are the expert and you have claimed your brand as Condo Queen.

Mar 24, 2020 01:05 PM #3
Rainmaker
612,404
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Lise,

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara

Mar 24, 2020 11:00 PM #4
Rainmaker
3,099,147
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Lise.

We are holding steady at 27 for a five county area.  I suspect at the end of the month, not much will change

Mar 25, 2020 12:26 AM #5
Rainmaker
2,790,142
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

When someone wants to know what is going on with the condo market in Bethesda it is a no brainer to visit the blog of the Bethesda Condo Queen!

Mar 25, 2020 05:24 AM #6
Rainmaker
5,672,898
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Mar 25, 2020 06:27 AM #7
Rainmaker
4,262,352
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lise, valuable information here on the Bethesda condo market, and you of course being the Condo Queen!  

Mar 26, 2020 12:04 PM #8
Rainmaker
3,343,440
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lise,  Always greatto see your market report on condos in the Bethesda area.  Hope you are stay in.

 

Mar 27, 2020 10:38 AM #9
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Lise Howe

Assoc. Broker in DC, MD, VA and attorney in DC
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