$4,500,000
5,285 SqFt
3 Beds
•4 Full Baths, 2 Partial
James M Coley, Listing Office: Long & Foster Real Estate, Inc.
Is Chevy Chase, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Chevy Chase has remained a Seller'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
$1,175,000
$479/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$172,250(-12.8%)
Key Takeaway
Homes in Chevy Chase have sold for 12.8% less than they did a year ago.
Summary: The median home sold price in Chevy Chase was $1,175,000 in September 2024, down 12.8% from last year, and the median price per square foot was $479.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284.2K | $305K | +7.3% |
| 2 Bedrooms | $592.5K | $724.5K | +22.3% |
| 3 Bedrooms | $1.0M | $1.0M | +5.0% |
| 4 Bedrooms | $1.5M | $1.4M | -6.7% |
| 5+ Bedrooms | $2.0M | $2.1M | +7.8% |
Summary: Chevy Chase housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 7.8%.
Housing Supply in Chevy Chase, MD
How many homes are available in Chevy Chase, MD?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 102 | 128 | +25.5% |
Summary: The Chevy Chase real estate market had 128 homes for sale in September 2024, a 25.5% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 21 | +31.3% |
| 2 Bedrooms | 25 | 30 | +20.0% |
| 3 Bedrooms | 13 | 19 | +46.2% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 30 | 39 | +30.0% |
Summary: The Chevy Chase housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 46.2%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 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. 48% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Chevy Chase in September 2024, up by 8.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 28% were sold at asking, and 24% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 29 Days | 32 Days | +11.7% |
Summary: Homes in Chevy Chase had an average of 32 days on market in Sep 2024, up by 11.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 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 September 2024, 25 homes were sold in Chevy Chase; 68% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
