Bethesda 20814 Market Update

Market Update for Bethesda 20814:

Median price trends are still down as is shown by the chart below.   Since this is real time data it also includes all active listings so this trending is for what price active listings are coming on the market.  As you can see by the breakout of quartiles it's not a matter of one segment of the market tracking differently – all are in a similar pattern.

Inventory trends are down as there is less than in the spring market as we expect, but this is less than the fall market last year.  Sellers have been spooked by the gloom and price reductions of the last couple of years and may still be waiting for better days.

The absorption rate is still not trending upward enough to handle all the inventory that remains on the market.  We might see this improving as the remainder of the fall market takes place, but historically it's never so strong in the fall as it is in the spring.

So, until the market demand completely catches up we won't see a shift in that price upwards even with the other positive signs of market improvement.  The market action index needs to be over 30 in order for a shift from a strong buyer's market to a seller's market.