Is Chevy Chase, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chevy Chase has remained a Buyer's Market.
Key Takeaway
Chevy Chase is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chevy Chase, MD
How much do homes in Chevy Chase, MD cost?
Median Sold Price
$1,210,500
$489/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chevy Chase have sold for 15.9% less than they did a year ago.
Summary: The median home sold price in Chevy Chase was $1,210,500 in March 2024, down 15.9% from last year, and the median price per square foot was $489.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $290K | +23.4% |
| 2 Bedrooms | $518.7K | $613.2K | +18.2% |
| 3 Bedrooms | $1.4M | $917.5K | -36.6% |
| 4 Bedrooms | $1.4M | $1.5M | +5.3% |
| 5+ Bedrooms | $1.9M | $2.0M | +2.0% |
Summary: Chevy Chase housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 36.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 2%.
Housing Supply in Chevy Chase, MD
How many homes are available in Chevy Chase, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 179 | 196 | +9.5% |
Summary: The Chevy Chase real estate market had 196 homes for sale in March 2024, a 9.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 34 | +25.9% |
| 2 Bedrooms | 33 | 35 | +6.1% |
| 3 Bedrooms | 21 | 20 | -4.8% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 78 | 84 | +7.7% |
Summary: The Chevy Chase housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 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. 56% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Chevy Chase in March 2024, up by 13.6% month-over-month. Of the 25 sold homes, 56% were sold under asking, 20% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 44 Days | +71.8% |
Summary: Homes in Chevy Chase had an average of 44 days on market in Mar 2024, up by 71.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 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 March 2024, 25 homes were sold in Chevy Chase; 52% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
