Highlights on the state of the Bethesda residential real estate market for the month of October 2017:
The median sale price for detached properties in October was $950,000 in October, representing a 3.3% increase from September and no change year-over-year (Source: MarketStats by ShowingTime). The average days on market for detached homes sold in Bethesda was 63 days, which is 16% higher than the 5-year October average. New contract activity increased 47.4% from September and the Contract Ratio was 0.41 pending sales per active listing, up from 0.30 in September.
The median sale price for condominiums in October was $315,000, representing a 4.5% decrease from September and 10.1% increase year-over-year. The average days on market for condos sold in October was 58 days, which is 9% higher than the 5-year October average. New contract activity decreased 11.1% from September and the Contract Ratio was 0.31 pending sales per active listing, down from 0.39 in September.