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Bethesda MD Market Report February 2024

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

The number of new listings in Bethesda was up in February!  The spring market had promised to bring more inventory and it seems that it is in fact coming through for us!  There were 106 new listings in February, up an eye popping 79.7% from January's 59 listings and February's 2023 73 listings.  

There were 86 new pending homes - up 79.2% from January 2023 and 36.5% from February 2023.  Even closed sales were up 17.8% with 53 properties settling. 

Good news abounded too for the median sale price which rose to $1,175,000, up 9.3% from January 2024.  The average sale price was $1,125,396, which was a decrease of 3% from January 2023 and 27.1% from January 2024.   If you just consider single family homes, then the median sale price was $1,408,500, which was down from last month's $1,836,609, but up from February 2023's $1,350,000.  

MEDIAN SALE PRICE FOR ALL PROPERTIES BY ZIPCODE

   

The median days on market was 8 days and the average days on market was 21 days. 

If you want more information on what this market means for you, just call us at 240-401-5577 or email us at lise@lisehowe.com.

If you are ready to make a move this spring, you don't want to miss out on the prime opportunity to list your home in this hot market.  With buyers actively searching for their dream homes, now is the perfect time to showcase yours.  Let's capitalize on the season's momentum and get your property noticed.  Contact us today to start the journey toward a successful and stress free sale.

Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Thank you for sharing this Lise Howe.  Hope you have a wonderful week ahead!

Mar 24, 2024 05:12 PM
KAREN SANCHEZ
Reputable Realty - Apple Valley, CA
...Marketing your home like no one else will.

Hi Lisa, So many questions come to mind!  Is Bethesda an inclusive neighborhood, meaning a shopping and services in the same area?  Next do tell!  Does DC have their own Dept of Real  Estate or are they regulated by another state? Do you have 2 licenses or one?  

Mar 24, 2024 06:04 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

KAREN SANCHEZ  great questions. I actually have 3  licenses - DC Maryland and Virginia and they all renew the same year - every two years.    Bethesda has lots of shopping and restaurants. It is the home to the international headquarters of Marriott and The National Institutes of Health.  The Howard Hughes research facility is here and Fox News and the discovery channel.  The national headquarters of the Cystic fibrosis foundation is here too. We have excellent hospitals and Jose Andres who founded the world kitchen charities lives here.

Mar 24, 2024 07:23 PM
KAREN SANCHEZ
Wow, I hope you only have to do one round of CE.   I'm licensed in 2 states, CA and TX.   It's so different.  

Bethesda sounds amazing.  I've been to DC several times for NAR and WCR meetings. If I ever get back I'll make sure to check out that area. 
Mar 24, 2024 07:33 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I loved your comments back and forth with KAREN SANCHEZ  26 years ago I had both MA & CA licenses, but I realized I did not need the one in MA any more, Endre

Mar 24, 2024 09:41 PM
KAREN SANCHEZ

It wouldn't have been as easy to work both states 26 years ago.  I do so much on my laptop.  Everything is on line now. 

Mar 25, 2024 06:41 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Lise,

Quite a report for Bethesda. The inventory has certainly increased which is much needed! Buyers have to be happy with more choices. 

Mar 25, 2024 04:27 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Thanks for sharing your market update.  Great information for buyers and sellers in your area.
Mar 25, 2024 04:31 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lise. When your market gets hot, it gets really hot! Lace up your track shoes and be ready to run! Wow. Enjoy your day.

Mar 25, 2024 04:44 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

We can always count on the Bethesda Condo Queen to keep us abreast of what is going on in the Bethesda real estate market.

Mar 25, 2024 05:40 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Lise Howe - I like those "Up" numbers! WOW! I suspect you're going to be very busy! 

Bethesda sounds wonderful! Buyers and Sellers will enjoy working with you and having your extensive expertise they wouldn't get from anyone else but you!

Mar 25, 2024 06:00 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Great market report with good news for buyers and sellers. 

Mar 25, 2024 06:52 AM
Roy Kelley
Retired - Gaithersburg, MD

This is a good report to share with families on the move.

Have a productive week.

Mar 25, 2024 07:28 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lise and thank you for sharing your market report with us here in  the Rain.  Make it a great start to the week.

Mar 25, 2024 10:59 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Lise- that's a very positive market report for Bethesda!!!  The Spring Market is going strong. 

Mar 25, 2024 07:23 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Lise Howe Thank you for sharing this report!  This is exactly what buyers and sellers need to make informed decisions.

Mar 26, 2024 04:43 PM
John Pusa
Glendale, CA

Hello Lise Howe very valuable market report for Bethesda, MD. February 2024.

Mar 26, 2024 05:43 PM