Is Chevy Chase, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chevy Chase is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Chevy Chase was a Seller's Market.

Key Takeaway

Chevy Chase 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, MD

How much do homes in Chevy Chase, MD cost?

Median Sold Price

$1,200,000

$484/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$102,666(-7.9%)

Key Takeaway

Homes in Chevy Chase have sold for 7.9% less than they did a year ago.

Summary: The median home sold price in Chevy Chase was $1,200,000 in October 2024, down 7.9% from last year, and the median price per square foot was $484.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $292.7K$304K
+3.8%
2 $600K$765K
+27.5%
3 $1.0M$1.0M
-2.4%
4 $1.4M$1.5M
+1.1%
5+ $2.0M$2.1M
+7.5%

Summary: Chevy Chase housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 27.5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 7.5%.

Housing Supply in Chevy Chase, MD

How many homes are available in Chevy Chase, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
116130+12.1%

Summary: The Chevy Chase real estate market had 130 homes for sale in October 2024, a 12.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 2020
0.0%
2 2831
+10.7%
3 1820
+11.1%
4 1815
-16.7%
5+ 3244
+37.5%

Summary: The Chevy Chase housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2721-22.2%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chevy Chase, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in Chevy Chase in October 2024, down by 22.2% month-over-month. Of the 21 sold homes, 38% were sold under asking, 19% were sold at asking, and 43% 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

Oct 2023Oct 2024CHANGE
29 Days54 Days+85.5%

Summary: Homes in Chevy Chase had an average of 54 days on market in Oct 2024, up by 85.5% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chevy Chase are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in Chevy Chase; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

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