Real estate market data for the Bethesda Single Family Home Market is provided by Lise Howe, Keller Williams Capital Properties
BETHESDA SINGLE FAMILY HOME MEDIAN PRICES
In Bethesda, MD, the median sold price for Detached properties for May was $965,000, representing a decrease of 4.5% compared to last month’s $1,010,000 and an increase of 6.2% from May 2015’s $908,500.
Year to date the median price has been $969,000. The five year average is $897,700.
BETHESDA SFH INVENTORY LEVELS
In May 2016 there were 124 new SFH listings, significant drop from April’s 184 new listings and May 2015’s 149 listings. (This downward trend is similar to that seen in the same period in the Bethesda condo market.) While the May 2016 number of 124 new SFH listings is lower than recent SFH listing numbers, it is very close to the 5 year average of 147 new listings in May.
In May 2016 there were 625 active SFH listings on the market versus 585 at the same time in 2015.
BETHESDA SFH PENDING AND CLOSED SALES
Year to date there are 115 pending sales and 85 closed SFH sales. This contrasts with the 2015 numbers of 93 new pending sales and 82 closed SFH sales at the same point in time. In May there were 115 new pending sales, representing an increase of 9.5% over April and 23.7% from May 2015. 85 closed sales is no increase over April’s numbers and an 3.7% increase over May 2015. The five year average of closed sales in May is 88.
AVERAGE DAYS ON MARKET
In May the average days on market was 42 days versus the previous month of 57 days and the five year average of 44 days.
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MARKET ACTIVITY MAY 2016- BETHESDA SINGLE FAMILY HOMES
In Bethesda, MD, the median sold price for Detached properties for May was $965,000, representing a decrease of 4.5% compared to last month and an increase of 6.2% from May 2015.
The average days on market for units sold in May was 42 days, 5% below the 5- year May average of 44 days. There was a 9.5% month over month increase in new contract activity with 115 New Pendings; a 20% MoM increase in All Pendings (new contracts + contracts carried over from April) to 174; and a 9.5% decrease in supply to 248 active units.
This activity resulted in a Contract Ratio of 0.70 pendings per active listing, up from 0.53 in April and an increase from 0.55 in May 2015. The Contract Ratio is 1% higher than the 5-year May average of 0.69. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor.
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POSTED BY Lise Howe, Keller Williams Capital Properties – a Bethesda Resident
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