Market Report for Zip Code 20816 – January 2008
For single family homes in Bethesa:
| Jan-07 | Chg | Jan-08 | Chg | |||||
| Units Sold | 12 | 33% | Units Sold | 4 | -67% | |||
| Sales Volume | $13,569,600 | 57% | Sales Volume | $4,690,000 | -65% | |||
| Avg Original List Price | $1,164,950 | 16% | Avg Original List Price | $1,236,972 | 6% | |||
| Avg List Price at Sale | $1,159,367 | 19% | Avg List Price at Sale | $1,236,972 | 7% | |||
| Avg Sold Price | $1,130,800 | 18% | Avg Sold Price | $1,172,500 | 4% | |||
| Avg List/Sale Ratio | 97% | 2% | Avg List/Sale Ratio | 95% | -2% | |||
| Median List Price | $949,000 | 12% | Median List Price | $1,141,944 | 20% | |||
| Median Sold Price | $945,000 | 11% | Median Sold Price | $1,065,000 | 13% | |||
| Average DOM | 40 | 9% | Average DOM | 53 | 33% | |||
I feel like it’s deja vu all over again! Look at the drop in volume and units sold. 65% down. There are:
- 37 active single family homes as of this writing ranging from $549K to $7.5M.
- 19 properties are under contract, so homes are selling!
- Days on market (DOM) are high at 116 and this accounts for many properties that are sitting on the market as rebuilds during their construction phase plus the long marketing time needed to get them sold.
In another report I’ll break this down by housing type and price range which tends to give a little clearer picture of where things stand. Within the price ranges (under $750K, ~$1M, >$1.5, etc.) we can get a better idea of how a house might perform on the market vs looking at this very broad perspective.
The graph below shows how the relationship of listings to sales looks in a chart. January to January listings in this zip code are up 23.9% and sales are down 50% (includes townhomes and condos so it’s a bit different than the single family homes listed in the table above). This trend is mirrored all over the county.
Information from MRIS and deemed reliable but not guaranteed
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