Bethesda MD Market Report March 2020 - and What It Means For You

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

Bethesda, Maryland Real Estate Report/Housing Market

At A Glance: March 2020

 

Latest news on the Bethesda real estate market and what it means for you...

 

Bethesda, Maryland real estate report/snapshot for March 2020. The Bethesda housing market remained a seller's market in March 2020 with 1.9 months of inventory, down from the five year average of 2.9 months. Housing inventory was down 192 active listings as compared with 262 listings in March 2019.   New listings (170 in March) increased 21.4% from February 2020 and 6.3% year-over-year.

 

Pending sales increased 2.8 % in Bethesda in March 2020  compared with one year ago. Bethesda's closed sales increased 23.9% year-over-year.

 

On average, homes sold in 40 days, down from 45 days compared with the same month one year ago (down 11.1%) and down from 57 days (down 29.8%) from the month of February 2020.  Median days on market were 10, down 47.4% year-over-year and down 44.4% month-over-month.

 

Average price of sold homes increased 2.8% year over year  to $946,064, while the median sale price decreased 4.3% year over year to $837.  Price per square foot was $371, up 10.1% year-over-year.

 

Sellers received 97.5% of listing price in final sale price (up from the 5 year average of 97.2%), showing minimal opportunity for buyers to negotiate.

 

  

Want to know what this would mean for your family if you decide to buy or sell a Bethesda home?

We can help.

Call us today at 240-401-5577 or email us at lise@lisehowe.com.  Our greatest joy is in helping you find that perfect home in Bethesda MD

 

 

SOME BETHESDA HOUSING MARKET HIGHLIGHTS:

MARCH 2020 VERSUS THE 5 YEAR AVERAGE

 

           

 

WANT MORE INFORMATION ABOUT BETHESDA?

 

Bethesda, MD is located adjacent to Washington, D.C. and is an urban core of Montgomery County, MD. Bethesda is one of the most affluent and highly educated communities in the United States. It is a vibrant town, and a destination for shopping, dining and artistic and cultural events. 

Bethesda Demographics (from the U.S. Census)

  • 2017 Population: 63,200
  • 2017 Households: 25,273
  • Median Age: 43.4
  • Owner Occupied Housing Unit Rate: 67.3%
  • Median Household Income: $154,559
  • 2017 Population 25+ Education Attainment - Bachelor's Degree: 83.7%

According to the Montgomery County Department of Parks & Planning Web site, Bethesda has a downtown workforce that exceeds 43,000.

The Bethesda Metro station, located in the heart of the downtown, handles more than 15,000 passengers on the average weekday. During weekends, more than 10,000 passengers pass through the station. The number of passengers exiting the Bethesda Metro station exceeds the number entering the station on both weekdays and weekends.

 
Major Employers

  • American Society of Health System-Pharmacists
  • The National Institutes of Health
  • Naval Support Activity Bethesda (Walter Reed)
  • Marriott International
  • Lockheed Martin
  • Johns Hopkins Suburban Hospital
  • Henry M. Johnson Foundation
  • Clark Construction Group
  • Howard Hughes Medical Center
  • Coventry Healthcare
  • Hospitality Partners
  • Diamondrock Hospitality
  • Host Hotels & Resorts
  • Total Wine
  • Comcast Sportsnet
  • Cystic Fibrosis Foundation
  • Pebblebrook Hotel Trus

 

SEARCH ALL BETHESDA, MD AREA HOMES HERE 

 Here is more information about some neighborhoods and buildings within Bethesda.

Single Family Homes in Bethesda

Westbard Mews

Kenwood Park

WONDERING WHAT YOUR BETHESDA AREA HOME IS WORTH?

We're happy to provide an expert home value analysis with no obligation on your part.

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Topic:
Real Estate Market Trends
Tags:
bethesda homes for sale
lise howe group
bethesda real estate market
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Rainmaker
3,560,548
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lise. It takes an experienced agent with a ready, willing and able buyer to navigate your market. Enjoy your day!

Apr 30, 2020 06:50 AM #1
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Wayne Martin = thanks for your comments - homes are still selling! Buyers want to move!

Apr 30, 2020 07:18 AM #2
Rainmaker
914,366
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Great market report, and I love the graphics with the dials, very simple to read and understand for buyers and sellers. Keep listing and selling.

Apr 30, 2020 08:48 AM #3
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Lise... love the graphics you used in this market report. Sounds like the market remained strong in March.

Apr 30, 2020 09:37 AM #4
Rainmaker
2,139,166
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Lise Howe - the demand is there although the low new listings should have a near term bump.

Apr 30, 2020 10:36 AM #5
Rainmaker
3,407,438
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lise,  Great information to take into consideration what is happen in other area.  Thanks!

 

Apr 30, 2020 11:26 AM #6
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Nina Hollander - I am taking a page from your playbook - you always do such a good job of market updates

Apr 30, 2020 04:42 PM #7
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Will Hamm - I am not a cook like you are so I have to do my little market reports instead! 

Apr 30, 2020 04:43 PM #8
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Nick Vandekar, 610-203-4543 - thanks for the positive reinforcement!  Have a great week

Apr 30, 2020 04:46 PM #9
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Grant Schneider - I am curious to see how this all plays out for us this summer.

Apr 30, 2020 04:46 PM #10
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe good morning, Lise... what a lovely thing to say. Thank you. You've made my day!

May 01, 2020 04:45 AM #11
Rainmaker
5,774,724
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

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

May 02, 2020 07:07 AM #12
Rainer
271,113
Tracy Hawke, The Woodland Companies!
Woodland Management Service - Minocqua, WI
Wisconsin Forest Land Experts!

Thanks for the update on this community, all the best to you as you get many of these properties listed and sold.

Tracy

May 05, 2020 08:53 PM #13
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Roy Kelley - as always - thank you for your kind words.  I am reading a book for book club that you might enjoy - Manhattan Beach by Jennifer Egan

May 06, 2020 09:15 AM #14
Rainmaker
1,824,542
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Tracy Hawke, The Woodland Companies! - thanks for the kind words and thanks for following me! 

May 06, 2020 09:15 AM #15
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Lise Howe

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