Is Chevy Chase, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Chevy Chase was a Buyer's Market.
Key Takeaway
Chevy Chase is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chevy Chase, MD
How much do homes in Chevy Chase, MD cost?
Median Sold Price
$1,240,450
$483/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Chevy Chase have sold for 17.4% less than they did a year ago.
Summary: The median home sold price in Chevy Chase was $1,240,450 in November 2023, down 17.4% from last year, and the median price per square foot was $483.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $256K | $295K | +15.2% |
| 2 Bedrooms | $507.5K | $592.5K | +16.7% |
| 3 Bedrooms | $1.3M | $944.5K | -31.5% |
| 4 Bedrooms | $1.5M | $1.4M | -3.9% |
| 5+ Bedrooms | $1.7M | $2.0M | +16.7% |
Summary: Chevy Chase housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 31.5%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 16.7%.
Housing Supply in Chevy Chase, MD
How many homes are available in Chevy Chase, MD?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 171 | 170 | -0.6% |
Summary: The Chevy Chase real estate market had 170 homes for sale in November 2023, a 0.6% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 24 | +4.3% |
| 2 Bedrooms | 31 | 26 | -16.1% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 28 | 25 | -10.7% |
| 5+ Bedrooms | 67 | 71 | +6.0% |
Summary: The Chevy Chase housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes increased by 6%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 21 | 30 | +42.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chevy Chase, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Chevy Chase in November 2023, up by 42.9% month-over-month. Of the 30 sold homes, 43% were sold under asking, 30% were sold at asking, and 27% were sold over asking.
Days on Market for Chevy Chase, MD
How long does it take to sell a home in Chevy Chase, MD?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 4 Days | 19 Days | +334.8% |
Summary: Homes in Chevy Chase had an average of 19 days on market in Nov 2023, up by 334.8% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chevy Chase are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 30 homes were sold in Chevy Chase; 90% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
