Is Chevy Chase Village, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Chevy Chase Village was a Seller's Market.
Key Takeaway
Chevy Chase Village is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Chevy Chase Village, MD
How much do homes in Chevy Chase Village, MD cost?
Median Sold Price
$2,347,500
$564/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chevy Chase Village have sold for 5% more than they did a year ago.
Summary: The median home sold price in Chevy Chase Village was $2,347,500 in May 2024, up 5% from last year, and the median price per square foot was $564.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.6M | - | N/A |
| 4 Bedrooms | $1.6M | $2.0M | +20.1% |
| 5+ Bedrooms | $2.3M | $2.8M | +23.9% |
Summary: Chevy Chase Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 23.9%.
Median Sold Price Compared To Nearby Cities
| Chevy Chase Village | $2.2M | $2.3M | +5.0% |
| Washington | $677.3K | $658.4K | -2.8% |
Housing Supply in Chevy Chase Village, MD
How many homes are available in Chevy Chase Village, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Summary: The Chevy Chase Village real estate market had 7 homes for sale in May 2024, a 22.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Chevy Chase Village housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chevy Chase Village, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Chevy Chase Village in May 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Chevy Chase Village, MD
How long does it take to sell a home in Chevy Chase Village, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 18 Days | +20.0% |
Summary: Homes in Chevy Chase Village had an average of 18 days on market in May 2024, up by 20% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chevy Chase Village are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Chevy Chase Village; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
