Bethesda MD 20817 Market Analysis/1Q 2011

said on May 15th, 2011 filed under: Bethesda, State of the Market

flowers Back in 2010 I was the habit of posting Bethesda 20817 real estate market analysis on a monthly basis …but I found it wasn’t necessarily indicative of the market we were experiencing at the time. One large house could really skew the numbers (and often did), as could a flurry of snow flakes. So, I decided to take it back a notch and post these findings on a quarterly basis. I think you’ll find that it represents area market trends more accurately.

So, what can we glean from these Bethesda 20817 numbers?

For starters, about 25% more homes sold in the last quarter of 2010 compared to the 1st quarter of 2011. I blame this on the slow Spring start off.
The average sales price for the first quarter this year decreased by roughly 11% over the previous quarter. In 4th Q 2010 there were 30 sales over $1-million. In 1st Q 2011 there were only 21 over $1-million. There were also more apartment sales, and those tend to bring down averages.
In the 1st Q 2011 sellers received a larger percentage of the original offer price… roughly 1% more. That figures to roughly $8,000 per transaction. Nothing to walk away from…
The average “Days on Market” are up by 16 days.
Perhaps the most surprising finding is the number of short sale/foreclosure transactions in 4th Q 2010. Over 10% of all 20817 transactions fall into this category. Thankfully that number is down to 5 in the 1st Q 2011.

If you’re in the market for property in the Bethesda MD 20817 area, please give me a call. I’d be happy to guide you through the buying or selling process fully armed to deal with the realities of the market today.

posted by Marcie Sandalow

This entry was posted on Sunday, May 15th, 2011 at 12:17 pm and is filed under Bethesda, State of the Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.