Bethesda Real Estate Sales Report (20817 Zip Code)

| Bethesda Real Estate Sales Report (20817 Zip Code) |

A series of reports that looks into the Washington DC area real estate market through examining micro-markets. This market report centers on data from the northwest Bethesda area (zip code 20817) in January 2007 and January 2008. This affluent and large enclave of homes in Bethesda includes a diverse variety of more “modest” homes and luxury estates. Some of the more recognized subdivisions in this area include Bannockburn, Burning Tree, and Avenel. Here's a review and breakdown:

Bethesda Maryland Single Family Homes (Zip Code 20817)

Bethesda Homes (Zip Code 20817) Analysis

Do I dare say a dynamic, vibrant and ascending market in the close-in Washington DC area? Recent market reports and observed increase in buyer activity point me in this direction. This specific study corroborates with data from past reports. Volume has been down but “average sold price” is almost on par with last years data. And although properties are sitting on the market longer this year, the “average sales price as a % of average list price” shows that days on market doesn’t always correspond to dramatic price reductions. For sellers patience and consistent marketing are paying off in the long run. When broken down into “micro-markets”, the “doom and gloom” disappears in the Washington DC area.     

- Contributing blogger Kevin Koitz

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