Bethesda, 2081 6 - (Single Family Homes) Month over Month - August
Josette Skilling
2011
Associate Broker
Active Contract Days on Market List to Sale Price Sold Median Price
Solving Your Real Estate Puzzle www.bethesdabuzz.com
Active Inventory 2010 vs 2011 60 50 40 30 20 10 0
2010
-5%
-4%
YTD
100 50 0
List to Sale Ratio 2010 vs 2011
-12% -44% 50% -2% 6% 10%
The chart below shows the absorption rate or months of supply, currently at 2 months signaling a seller's market. Note the spikes in past early spring markets and the lack of the same in Jan/Mar of this year, a result of the 5% drop YTD in active listings. For buyers who needed a home now they were feeling the pressure of this lack and were fearful there may not be more inventory coming on to meet their time frame.
Days on Market 2010 vs 2011 150
42 9 22 97% 17 $882,000
Year to Date - 3rd Quarter
YTD
2011
37 5 33 95% 18 $970,750
2010 % Change
1% YTD
104% 99%
If you look at the chart below (homes sold through current month) you'll note that we had sold 147 homes by the end of September last year. There are two more scheduled to close which may put us at 115 sales but that is still significantly below past years. As a result, in some neighborhoods median price is up quite a bit. When we look at the homes in certain price ranges we can see where most the increase lies: the $650-$750K range, with an 8% increase. There is more competition for homes in this range since it's only been 8% of the total sales in the zip code and only 9 homes have been sold in this range. For buyers that want the schools and proximity, it's tough to find a really good house when the median price is $900,000.
52% There were fewer homes offered for sale in the spring market so buyers paid a higher price and sellers received more of their asking price. At 97% of asking price right now, it's still a healthy sign of buyer demand.
94% 89% 84%
Median price is just $500 away from the peak of $900,000 in 2007.
Sold 2010 vs 2011
-23% YTD
40 30 20 10
February 2010 0
Months of Inventory 2009 - 2011
3
Absorption Rate
YTD
6
0
Jan-09 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan-10 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan-11 Feb Mar Apr May Jun Jul Aug
4% $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
Months of Inventory
12
Median Price Change 2010 vs 2011
6 Months Supply - Balanced Market Over 6 months Supply - Buyer's Market Under 6 Months Supply - Seller's Market Information included in this report is based on data supplied by MRIS and reflects the activity of single family homes in zip code 20816. The information is deemed reliable but not guaranteed.
Annual Bethesda 20816 (Single Family Homes) Bethesda 20816- Median Price 2008 - 2011 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 <$500K
$500-$650K
$650-$750
$750K-$850
$850-$1M
$1M$1.25M
$1.25M$1.5M
$1.5M-$2M
over $2M
2008
$460,000
$600,000
$710,000
$795,000
$887,500
$1,135,000
$1,350,000
$1,650,000
$2,300,000
2009
$425,000
$570,000
$710,000
$816,000
$900,000
$1,127,500
$1,290,000
$1,725,000
$2,680,000
2010
$425,000
$624,000
$670,000
$800,000
$899,500
$1,137,500
$1,350,000
$1,683,750
$2,102,500
2011
$0
$598,000
$724,000
$810,000
$899,000
$1,125,000
$1,370,500
$1,695,000
$2,075,000
-4%
8%
1%
0%
-1%
2%
1%
-1%
Days on Market Annually
Total Homes Sold Annually
$1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 Median Price Appreciation
180
163
177
162
169
2011
2009
2008
2007
2006 202
164
142
123
147
113
2011
146
2010
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
113
250 200 150 100 50 0
2009
187
2008
167 173
2007
195
2006
208 225
2005
237 234
2001
233 216
96% 97%
Total Homes Sold - Through Current Month
2000
210
2000
250 200 150 100 50 0
97% 98% 95% 94%
2000
2011
2010
2009
2008
2007
2006
2005
2004
2003
90%
2002
0 2001
95%
2000
20
101% 101% 101% 102%
2005
22
99%
2004
32
98%
2004
34
100%
2003
27
37
47
2003
31
35
49
43
2001
60
2010
105%
60
2002
74
80 40
List to Sale Price Ratio Annually
2002
% Chg
96%
Median Price Appreciation since 2000
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
$460,000
$545,000
$599,950
$700,000
$763,500
$870,500
$870,000
$900,000
$880,000
$839,000
$864,500
$899,500
18%
10%
17%
9%
14%
0%
3%
-2%
-5%
3%
4%
301-385-9213 J.Skilling@verizon.net
Keller Williams Capital Properties, 801 D Street, NE ,Washington, DC 20002 If your home is currently listed for sale with another broker, this is not intended as a solicitation of that listing