My experience in the area has given me access to some of the best deals on fantastic properties Bethesda has to offer – I’ll be happy to share my own exclusive list with you based on your own criteria. Just fill out the easy contact form below – that’s it! All you gotta do is ask!
|
The Beacon Hill area of Bethesda is a community that has it all! Wonderful older homes – many of which have been renovated extensively – with tree lined streets and a tight knit community. There are multi-generations living here (I should know we live in the house my husband grew up in there!) since the families want their kids to experience the same sense of tradition and community they grew up with. The ~450 homes were built in the 50's and are a mix of ramblers, splits and colonials, with a preponderance of splits it seems! With recent development happening at a fairly rapid clip, there are now a number of homes well over $2M in the neighborhood. With access to the downtown areas of Bethesda and DC so close, this neighborhood continues to attract professionals who work in those locations and require top notch schools as well as proximity to work locations. Wood Acres Elementary is tucked into the neighborhood in such a way to become an integral part of the community. With about 700 students it's a large school that draws from this neighborhood as well as several others in the 20816 zip code. If you are interested in what school your child would attend in the 20816 zip code you can always check the Montgomery County Public Schools website, enter in the address of the home and all information about the school cluster will be available to you. An active civic association is in place to monitor and respond to the issues within the community. Recently, many trees were marked for removal and the association has been active in getting the word out to the community that the replacements need TLC and just what to expect those replacements to be, according to the county guidelines. A pending issue that has many residents concerned is the anticipated renovation of the nearby shopping center. Springfield is part of a larger coalition of communities banded together to ensure that the development is something that can be supported by the community and doesn't tax our infrastructure so much. Much discussion has centered around the potential for high rise homes and national chain shopping centers though nothing is yet set stone. No pun intended… |
|||||||||||||||||||||||||||||||||||||
.gif){kind=small}
.gif)
.jpg)
Available Homes in Beacon Hill
Market Trends in Beacon Hill
Homes Sold in Beacon Hill
Bethesda Real Estate and Bethesda Homes for Sale
I'm available to help you!
If you are looking to buy or sell a home here or in one of the other lovely surrounding Bethesda real estate communities, please start your search by calling me, a Bethesda Realtor. You can search for all homes for sale in Bethesda here or by clicking on the search button.
All the Latest News About...
2009 Year End Sales Summary for Bethesda – 20816
Bethesda Real Estate – Homes for Sale in Bethesda
.jpg)
ACTIVE LISTINGS in Bethesda – 20816
Price continues to trend upwards in the active listings – or homes for sale in Bethesda – but it has not translated yet to sold prices achieving gains in average or median price. The inventory is still on a downward trend from the past but the days on market are not matching the same trend. The buyer demand is not heavy enough yet to tip the balance into more of a seller’s market.
|
|
|
Bethesda Real Estate and Bethesda Homes for Sale
2009 Yearly Statistics for Bethesda 20816 Neighborhoods
.jpg)
Bethesda Real Estate and Bethesda Homes for Sale
November 2009 Real Estate Stats for Bethesda, 20816
.jpg)
Information source MRIS, deemed reliable but not guaranteed…
November taken just from this chart looks abysmal. But rolled up for the year, the median price is only down about 5%. Not so bad if you thought it was 39% down. That’s one of the reasons this month over month look can be deceptive and really too narrow to look at as definitive. I prefer to keep a rolling average of the year to date so I can look back over the years and see if this season is in fact much different than previous year’s seasons as a whole. I also prefer median price over average because it doesn’t take much in a zip code that is being remodeled or rebuilt fairly heavily to skew the data upwards. Same holds true for some of the smaller homes that might be gobbled up to create a new home and that will skew the average downwards…
The active inventory in November was much lower than before and that becomes the trend to watch. If it continues and buyer demand starts heading upwards we might see price stabilize in an upward trend.
Beacon Hill Annual Median Appreciation
.jpg){kind=tracking}
Overall appreciation since 2000: 85%
Source: MRIS
Information deemed reliable but not guaranteed
Bethesda 20816 Market Update
Inventory continues to be driven down and as you can see by the blue bars it’s quite a bit lower than it’s been! There is a bit more active on the market that just came on last month as noted by the orange bar but there are more contracts (gray bar) and more sales (turquoise bar) than this season last year. It is nice to see that a seller had more than a 50% chance to sell last month – a great improvement over those months where only 1 in 4 houses had the opportunity to sell.
So what does it mean? Why if this demand is here is price not improved as is evidenced by the chart below? We still don’t have enough pent up demand on the buyer side to equate to a stronger seller’s market. In some price ranges there is clearly not enough inventory but overall we have not seen the market correction happen that will shift from a very clear buyer’s market into a seller’s market. The first graph is for the combined quartiles and we can see a slight uptick. By looking at the quartile trends below that we can see that the under $1M market is pretty flat with more of the decline happening in the upper brackets. It’s helpful to know what your segment of the market is doing so you don’t make an assumption that applies to the larger market instead of your more narrow band. Good for buyers to as they try and figure out what to offer… Many have been surprised lately to see that they are going to be in multiple offers for property in the midst of what they consider a strong buyer’s market! Not all price tiers behave the same way.
Let’s watch this price trend closely to see if that little uptick we are seeing over the last week lasts or not…
However if this market action index trend continues upward and gets over 30 then we’ll see a shift in prices as demand starts to outstrip supply. Keep watching in Market Trends to see what happens!
Source: MRIS
Information deemed reliable but not guaranteed