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.
If you are interested in finding a single family home for sale in Bethesda MD, just click here to see all the single family homes for sale.
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.
To find out the value of your home in Bethesda, just click here. We have lots of buyers looking for homes in the Bethesda area – and very likely for a home just like yours!
If you would like a private consultation on the value of your home and how to get it ready to market, please call the Lise Howe Group at 240-401-5577 or email us at lise@lisehowe.com.
POSTED BY Lise Howe, Keller Williams Capital Properties – a Bethesda Resident
If you are looking for a home in the DC metro area, you know there is more to the process than just picking a property and making an offer. You need to find the best location for your wants and needs, get a great price, and work with a lender who will make your life easier – not harder. Trust your search with a Realtor who is licensed in DC, MD and VA and really knows the city and all its secret neighborhoods.
Start your search with the Lise Howe Group, Washington Natives who love the city and all its quirkiness! If you are moving or relocating to Washington DC, be sure to ask for our relocation guide. Call us at 240-401-5577 to schedule an appointment or email us at lise@lisehowe.com. Too excited to wait to talk to us about a great home? Just click here to start that home search.
If you want to see what is for sale in Washington DC, Chevy Chase and Bethesda, check out these links below:
Bethesda Single Family Luxury Homes