How’s the Chevy Chase Real Estate Market in 20815?
The Chevy Chase real estate market is in good shape in zip code 20815 compared to last year at this time - the average sold price is up by almost 20%; but the average days on market are higher: 87 days vs. 72 days; but sellers are getting more of what they are asking - 95.1% of of the list price vs. 93.9% of last year's average list price.
What Has Sold?
In September, 16 single family homes, 9 condos were sold and there were no town homes sold. There was 1 short sale and 1 foreclosure in the 20815 zip code, which is fairly unusual. The neighborhood with the most homes sold was in the legal subdivision Chevy Chase.
Do you want to stay up to date on what homes are selling for in your neighborhood? Then sign up for our
Market Snapshot Report.
What Is Happening with Home Prices?
The average condo sales price dropped significantly in September from August to $399,989. Single family homes average price also dipped from August to September to $1.042 million (see chart -
mouse over for details). A change in the average sales price for one month is not necessarily an indication of a trend, it could just indicate that more homes were sold in a more or less expensive neighborhood of Chevy Chase.
The most expensive home sold was a beautiful 1939 farmhouse in Somerset Heights for $2.230 million.
You can see more details about home sales in our report on
Chevy Chase Property Values.
Are Sellers Getting Their Asking Price in Chevy Chase?
The chart below (mouse over for details) shows the trend for the proportion of the original listing price a home seller is getting when they sell. This takes into account price reductions. This month's overall average is 95.1%, compared to last year's average of 93.9%; the overall county average was 93.9%.
How Long Is it Taking to Sell a Home?
The average number of days it took a home to sell in September was 87, fifteen days longer than last year's average. The overall county average was 77 days. You can see more market statistics in our
Chevy Chase Real Estate Market Trends Report.
Who is Buying?
Cash buyers in 20815 (often investors) in September represented 24% of sales. Overall in Montgomery County, cash buyers made up 16.79% of home sales.
What is For Sale?
Click on the map below to start your Chevy Chase home search, save your favorites, set up automatic emails, and receive alerts for properties that fit your criteria.
Call Bob Myers of Re/Max Realty Services at 301-910-9910 if you have any questions about the value of your home or the real estate market.
