According to the latest real estate market data, the average price per square foot in our beautiful community has decreased. What’s more, the total number of home sales has also decreased!
This is a great indicator that supply is greater than demand, which is a wonderful time for you as a buyer to get a great deal on a property.
Chevy Chase Market Activity for March
Here’s an overview of the latest real estate market activity in Chevy Chase:
- Currently there are 98 homes for sale on the market, including 3 homes in the foreclosure process.
- Between December and March, the average price per square foot for homes was $466, down 11.7 percent from the same period last year.
- The median sales price for homes was $922,500 based on 30 home sales.
- Compared to a year ago, the median home sales price increased 2.6 percent, or $23,500.
- And the number of home sales decreased 63 percent.
- Here’s how other communities stacked up when it came to median sales price
- Bethesda: $750,000
- Potomac: $884,444
- Rockville: $430,000
- Washington DC: $471,000
- Kensington: $445,000
- During the week ending on March 4, the average listing price for homes was $1,612,888, up 1.7 percent from the week before.
- During that previous week, the average listing price was around $1,587,000.
- Specifically, the average listing price for a 1-bedroom home here was $446,072
- And the average listing price for a 4-bedroom home was $1,375,190
- Here’s how other communities compared when it came to average listing price
- Bethesda: $1,717,483
- Potomac: $2,353,787
- Rockville: $550,596
- Washington DC: $907,886
- Kensington: $760,227
Start Searching for Your Dream Chevy Chase Home!
There are certainly some great properties to be found on this market and we’ll be happy to help you find the one that’s best for you!
Until next time,