Bethesda Real Estate Report (20814 Zip Code)

Posted by Gretchen Koitz on Saturday, January 31, 2009 at 4:59:53 PM By Gretchen Koitz / January 31, 2009 Comment

Bethesda Homes in 20814 - A Tale of two Quarters

Bethesda Real Estate Report (for 20814 Zip Code)

This market report draws on data from the Downtown Bethesda area, its surrounding suburbs, and a small pocket of properties to the north. As I've noted before in previous Bethesda (20814) reports, this area is an especially difficult area to analyze because of the diversity of property types and price-points. From Multi-million dollar properties in the luxurious Downtown Bethesda suburb, Edgemoor, to the low $500Ks to the in the northern part of the zip code. Please don't get me wrong, $500,000 is by no means a bargain by anyone's standards, just pointing out the "relativity of things" in this extraordinary and diverse zip code :-)

Bethesda Homes and Property Report (20814) - Comparing "Final Quarter Stats" in 2007 vs. 2008

	2007	2008
Number of Homes Sold	37	49
Average Sold Price*	$944,391	$822,168
Average Days on Market*	62	70
Average Sales Price as a % of Ave. List Price*	97%	96%
Number Sold over $1M	15	9

per MRIS data
*rounded to the nearest whole number

I'm going to save my thoughts on this one except to note that the approximate 13% depreciation over the past year (even in some of the finest Bethesda suburbs) is just about spot on in my humble opinion. What I'd love to hear are any thoughts as to why more units sold in 2008. Please don't be shy...enjoy the speculation!

Contributing Bloggers - Kevin Koitz & Penelope Frissell