Bethesda Md Homes For Sale Market Update For March 2011

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It's time to take a quick look at the health of the Bethesda MD real estate market, which I like to do at least once a month.

Looking back, in the first half of March, Bethesda MD homes for sale saw a $60,000 drop in their median asking prices. If you prefer, start earlier, maybe the first of January or so and things look a bit worse. Compared to that starting point, mid March prices have lost $80,000.

Maybe you prefer looking at the bright side of any situation. If that's the case, then look back to last September, when the median asking price for homes in Bethesda was around $925,000. Compared to that level, our local prices have jumped $87,000! That sounds much better!

Next, let's look at the number of active homes for sale in Bethesda, which has been growing. We have gone from a low of about 150 homes for sale in early January to our current level of 210, a 40% jump in just two months!

Looking a little closer at the data I think we can see a higher level of inventory at the end of 2010 than what we have right now. Which means that there are a few home owners who didn't get their home sold last year, but took their homes off the market due to the holidays, and will probably be entering the market before too long. For that reason, I fully expect inventory levels to continue to rise for the next few weeks or months.

Finally, to wrap up my monthly market analysis of the Bethesda real estate market, I want to look very quickly at how long homes are staying on the market. The numbers seem a bit counter intuitive to me, as normally I would expect to see rising times on market when inventory levels are rising.

But we are seeing the last month or two has actually seen market times getting shorter, even while inventory levels are rising! That's a bit of a surprise and something we should keep our eyes on moving forward.

One explanation why DOM measurements are growing shorter while inventory levels are rising may simply be a seasonal adjustment, or market correction. It's quite possible that the finest homes that are in the best shape and priced correctly will sell the quickest. If the new listings coming on to the market are priced right, maybe the new sellers have learned something from the old sellers, then the new listings may be selling quickly, bringing the overall measurements down.


About the Author:
To learn more about Bethesda MD homes for sale and data analysis of the Bethesda real estate market, visit http://www.dcrealestatemarketplace.com where Richard Jones breaks down weekly sales data for the city as well as many surrounding neighborhoods, such as Potomac, Chevy Chase, Avenel, Silver Spring and Bethesda, to help buyers and sellers prepare themselves for an upcoming real estate transaction.



Article Originally Published On: http://www.articlesnatch.com


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