Bethesda MD Market Update for May 2020 By the Lise Howe Group

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

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.

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:

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.

 
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 Trust

 

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.

PAST BETHESDA MARKET UPDATES

 

Bethesda Market Update April 2020

Bethesda Market Update March 2020

Bethesda Condo Market Update May 2016

20816 Bethesda Market Update May 2017

Bethesda Market Update May 2018

Comments (4)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lise this is valuable information for both Buyers and Sellers in Bethesda.

Jun 25, 2020 01:24 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

For all real estate related information, the best source for Bethesda is from the Bethesda Condo Queen!

Jun 26, 2020 08:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Lise... this is the fourth time I've tried to post a comment here... kicked off each time. If you stop hearing from me in the Rain... don't take it personally... it's just that I really don't need to waste so much time on this platform or add to frustrations in my day. I think I'm just going to focus on posting on my website blog from now on and give up on this platform.

Jun 26, 2020 11:10 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lise, great market update for Besthesda, and looks like the pandemic took a toll on your monthly sales.

Jun 29, 2020 06:47 AM