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