Chevy Chase, MD Housing Market Update for July

Home Buying 5It’s been a fairly productive month here on the Chevy Chase real estate market, at least according to the most recent market data.

After all, according to data, the average price per square foot has seen a year-over-year increase – as has the median home sales price.

Still, the number of home sales did show year-over-year decreases, suggesting that the market recovery still has some progress to make.

If you’re interested in entering the market anytime soon as a buyer or seller, we invite you to continue reading to learn more about the current state of the market.

What You Should Know About Chevy Chase Home Sales

Here’s an overview of the current state of the housing market in Chevy Chase:

  • Currently there are 96 homes for sale, including 3 in some stage of the foreclosure process.
  • Between April and July, the average price per square foot for Chevy Chase homes was $523, up 3.2 percent from the same period last year.
  • Meanwhile, the median sales price for homes between April and July was $1,110,000 based on 42 home sales.
  • Compared to last year, the median home sales price increased 14.4 percent, or $140,000.
  • And the number of home sales decreased 31.1 percent.
  • During the week ending on July 22, the average listing price for Chevy Chase homes was $1,289,455, down 0.3 percent from the week before.
  • In other words, the average listing price decreased $3,876 during that time.
  • Broken down further, the average listing price for a 1-bedroom home was $312,274.
  • The average listing price for a 2-bedroom home was $485,700.
  • The average listing price for a 3-bedroom home was $785,748.
  • And the average listing price for a 4-bedroom home was $1,052,828

We’re Your Dedicated Chevy Chase REALTORS

We hope you found the above information valuable as a home buyer or home seller in the local housing market. For more insight on the current state of the market and how it affects you as a buyer or seller, please don’t hesitate to contact us at The Rozansky Group.

We would be happy to help you at every stage of the real estate process in order to ensure that you get the best deal possible on the market!

Until next time,

Brad

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