The residential real estate market in Bethesda showed mixed performance indicators in February—units sold faster, on average, and new contract activity picked up; however, median sold prices for detached properties fell about 13%. Here is additional data from the latest market insight report (Source: MarketStats by ShowingTime):
Detached Properties
• Median sold price: $989,000 (-13.2% vs. Jan. 2019/+4.9% vs. Feb. 2018)
• Average days on market: 111 (26.0% below 5-year Feb. average)
• New contract activity: +7.1% with 60 new pendings
• Contract Ratio: 0.52 pendings per active listing
Attached/Townhouse Properties
• Median sold price: $892,500 (+9.3% vs. Jan. 2019/-16.1% vs. Feb. 2018)
• Average days on market: 53 (6.0% below 5-year Feb. average)
• New contract activity: +200.0% with 12 new pendings
• Contract Ratio: 0.93 pendings per active listing
Condo & Coop Properties
• Median sold price: $285,000 (+10.5% vs. Jan. 2019/-28.8% vs. Feb. 2018)
• Average days on market: 104 (1.0% below 5-year Feb. average)
• New contract activity: +20.8% with 29 new pendings
• Contract Ratio: 0.45 pendings per active listing
