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Bethesda Real Estate Snapshot – March 20, 2013

Brian and Amy Maury

We know Bethesda Real Estate!

Spring is in the air!  Flowers are beginning to sprout up all over and so are homes for sale in Bethesda…well, not really.  Let me explain.

There has been a lot of talk in the news about the real estate market fueling some of our economic recovery and admittedly, we are seeing rapid-fire sales in our market place.  Lenders are lending again, buyers are definitely buying and homes are selling – quickly in some cases!

According to the Metropolitan Regional Information System (MRIS), Bethesda has experienced only a 0.1% increase in contracts signed in February 2013 versus February 2012.  However, the statistically interesting point is that there are 34.4% fewer homes actively listed for sale than last year.  The market is rapidly absorbing the available inventory of homes.  As a result, we are witnessing very quick sales, multiple offers and a vigorous real estate climate, especially for homes that show well and are priced appropriately.

Let’s look at things from another perspective.  In Bethesda, there have been 208 homes and condos listed for sale from the period of February 1, 2013 – March 20, 2013.  Since that time almost 50% of those 208 homes have received contracts and are either sold or they are currently pending settlement.  The homes that are under contract (86 of the 208) were listed for a median time period of only 9-10 days.  Like I said, the good ones are going fast!

There are 10 homes that have settled already.  Incredibly, the median amount of time they were on the market was 1 day (yes, ONE) day!  Six of those 10 sold homes were sold for at or above their asking price.

Some speculate that this strong market activity is a result of continued low interest rates.  Some say we have a housing shortage developing.  There are many other assumptions and speculations regarding the market surge.  Perhaps it’s simply that spring is in the air.  Let us know your thoughts on the matter.

If you live in or around Bethesda are thinking about selling, this is a great time to consider it.  If you’re buying a home, get loan pre-approval, get in touch with your favorite real estate agent(s) and go see homes as soon as they hit the market.  The best ones are selling quickly!  We have been helping some buyers secure homes that have not yet hit the open market.  If you’re interested in getting these notices, let us know by visiting our CONTACT page.

Here is a list of homes for sale in Bethesda:

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(all data current as of 4/19/2019)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

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