Chevy Chase MD Real Estate Report (Zip Code 20815)
Chevy Chase Maryland Real Estate Sales Report
A look into the Washington DC area real estate market through examining micro-markets. In this specific case, we compared home sales data in Chevy Chase Maryland in January 2007 and January 2008. Here's a recap and analysis:
Chevy Chase Maryland Single Family Homes (Zip Code 20815)
January 2007 | January 2008 | |
Number of Homes Sold | 14 | 14 |
Total Sold Dollar Volume | $16,809,400 | $3,195,000 |
Average Sold Price* | $1,200,671 | $798,750 |
Avergae Days on Market* | 89 | 68 |
Ave. Sales Price as a % of Ave List Price* | 97% | 96% |
Number Sold over $1 M | 5 | 1 |
Number Sold over $2 M | 2 | 0 |
* rounded to nearest whole number
per MRIS data
Chevy Chase Maryland Homes Analysis
The disparity in volume for Chevy Chase Maryland homes (20815) is significantly more dramatic than yesterday’s Bethesda (20814) home and townhomes analysis. If nothing else, this glance at Chevy Chase (20815) certainly makes the market look much more stagnant than is the reality in the Bethesda/Chevy Chase area. Of course, as discussed yesterday, there will always be many confounding factors when dealing with small data pools. Average sales price in January 2008, for example, is strikingly lower than the 2007 average (which is more reflective of the average single family home in Chevy Chase MD). The explanation is that 3 of the 4 houses sold in Chevy Chase Maryland in 2008 were in the northern part of the zip code, an area comprised of more moderately priced homes ($600Ks). Other more positive market indicators are "days on market" and "average sales price as a % of the listing price".
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