Bethesda, Maryland Real Estate Report/Housing Market
At A Glance: May 2020
Latest news on the Bethesda real estate market and what it means for you...
Bethesda, Maryland real estate report/snapshot for May 2020. The Bethesda housing market remained a seller's market in May 2020 with 2.2 months of inventory, down from the five year average of 3.3 months. Housing inventory was down to 215 active listings as compared with 343 listings in May 2019 and 197 in April 2020. New listings (140 in May) increased 45.8% from April 2020 and decreased 36.9% year-over-year.
Pending sales increased 50.7 % in Bethesda in May 2020 compared with April 2020 but decreased 27.2% from May 2019. Bethesda's closed sales decreased 23.1% from April 2019 and decreased 38.5% year-over-year.
On average, homes sold in 36 days, down from 43 days compared with the same month one year ago (down 16.3%) and up from 24 days (up 50%) from the month of April 2020. Median days on market were 9, down 25% year-over-year and up 28.6% month-over-month.
Average price of sold homes increased 6.7% year over year to $1,007,392, while the median sale price increased (3.7%) year over year to $925,000. The Average Price per square foot was $342, down 6 % year-over-year.
Sellers received 97.7% of listing price in final sale price (slightly less than the 5 year average of 98.2%), showing minimal opportunity for buyers to negotiate.
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SOME BETHESDA HOUSING MARKET HIGHLIGHTS:
MAY 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 Trust
Here is more information about some neighborhoods and buildings within Bethesda.
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PAST BETHESDA MARKET UPDATES