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Glen Echo Heights, Bethesda Market Trends

If you are interested in selling your Glen Echo Heights home for top dollar in the quickest amount of time, please contact me anytime at 301-385-9213 or email me requesting further information.

Sold Market Trends for Glen Echo Heights

As of 1/10/11 here are the Bethesda real estate home sale stats for the Glen Echo Heights real estate. The stats count the sales from the beginning of the year and are a reflection of the home values in the Glen Echo Heights Bethesda neighborhood.

How's The Market?

Glen Echo Heights, Bethesda Real Estate:

Let's take a look backward at the real estate market for 2010. After a very active year in which we saw a 3% median price gain in zip code 20816 and an overall median gain in Glen Echo Heights of 7% it will be interesting to see what is in store for 2011!

Sales were down 13% from last year and overall sales volume was down 34% from 2009 but as a result of the decreased inventory and historically low interest rates, days on market took a whopping 72% tumble from last year's high of 152 days (at least since 2000).

I track the Bethesda zip codes as well as maintain a current look at Glen Echo Heights there with enough geeky charts for those who love data…

The list to sales price ratio is the amount of the asking price that sellers received.  There was a 1% change from last year;  this year means on average homes sold for 9% less than their asking price but buyers still need to be careful not to apply that across the board  and to look carefully at the makeup of the data.

As you can see by the sold chart below, 5 homes which sold for more than a 20% reduction in their price contributed to the drop in list to sales ratio and to the overall greater average of days on market.  Many homes sold quickly and for very close to or more than their asking price.

Condition and price rule.  I sold many homes last year with multiple offers because we took the time to get them in terrific shape, photographed them professionally and made them easy to see or show.

These homes are currently active:

• 5124 Waukesha         $595,000
• 6106 Madawaska      $899,015
• 6323 Wiscasset         $1,427,000
• 24 Wissioming           $7,499,000

Current rates are still historically low at just under 5% and buyers are getting their financing in order to take advantage of good homes as they come on the market. I am currently working with several buyers who are waiting for inventory to come on the market in several neighborhoods in Bethesda, including Glen Echo Heights!

A lot of national discussion is centered about the upcoming foreclosure inventory that banks have held back, and while this area is a bit more protected from the extreme variations in value we’ve seen in other parts of the county, it has unfortunately not been immune to financial distress. But buyers should not be expecting to see the same discounts they would in othercities, even in Montgomery County.

Since no homes or neighborhoods exist in a vacuum, it’s important to understand the wider trends of the zip code and county.   There is a modest 3% median gain in zip code 20816 though many neighborhoods are showing losses over last year. With a fragile economy still trying to find its footing, it’s vital that sellers be very aware of the trends so they achieve their goal of a sale. No one wants to just be on the market – they want to be IN the market!

Homes for Sale in Glen Echo Heights, Bethesda:

I have very aggressive Internet marketing campaigns in order to get the best exposure for any listings and it does work. Priced well, presented beautifully and exposed to the widest possible audience will mean you have the best chance to be the next house sold!

If you are interested in the full report for Bethesda real estate in zip code 20816, it is updated monthly.

Until next month! 

*Click on the report and it will blow up to full screen!

All Past Sales in Glen Echo Heights