The February 2022 Market Report in Bethesda Maryland lets you know what is for sale, how quickly homes are selling and what they are selling for. If you are thinking of buying or selling your home in Bethesda MD, you want to read more!
Real Estate Market Overview of Bethesda MD February 2022
In Bethesda MD the median sold price for single family homes was $1,600,000, representing an increase of 48.8% compared to last month and an increase of 29.6% from February 2021. The average days on market for units sold in February was 44 days, 17% lower than the 5 year February average of 53 days.
February 2022 Market Report in Bethesda Condo Sales
The Median sold price for condo in the February 2022 Market Report in Bethesda was $279,000, representing a decrease of 3.8% compared to last month and a decrease of 26.6% from February 2021. The average days on arket for units sold in February was 47 days, below the 5 year average of 61 days. There was a month over month increase in contract activity with 39 pending propertys; a 27.8% MoM increase in all pendings (new contracts plus pending contracts carried over from January) to 46: and an 11.8% decrease in supply to 45 active units.
The good news for sellers is that this activity resulted in a contract ratio of 1.02 pendings per active listing, up from 0.71 in January and an increase from 0.40 in Febuary 2021. The contract ratio is 78% higher than the 5 year February average of 0.57. A higher contract ratio signifies a relative increase in contract activity compared to supply and indicates the market is moving in the seller’s favor.
If you are interested in buying a condo in Bethesda, you can start your search right here by seeing all the condos currently on the market.
Luxury Homes in February 2022 Market Report in Bethesda
Luxury Homes on the Market in Bethesda February 2022
7511 Hampden Lane in Edgemoor, a community in Bethesda, was the most expensive home on the market in February 2022. Listed for sale at $4,495,000, this Edgemoor home was built in 2002 by Jeffco. With 5 bedrooms, 6 full baths and two half baths, this home sits on a private, flat, half-acre lot close to Downtown Bethesda’s shopping, restaurants and Metro. 7511 Hampden Lane offers generously sized rooms with high ceilings, an elevator to all three levels, limestone flooring, an exquisite forged iron staircase, oversized mouldings and floor to ceiling custom windows providing an abundance of natural light. From the Belgian block driveway and motor court to the custom-designed glass and mahogany double entry doors, you will fall in love with the attention to detail and gracious floorplan. The gourmet kitchen and family room open to the expansive flagstone patio are perfect for entertaining or dining al fresco. Or you may choose to retreat to the theater room, grab a workout in the gym or unwind in the private study.
If you would like to have a private showing of this luxury listing, just reach out to us at 240-401-5577 or email us at Lise@lisehowe.com. This home is listed by Long and Foster.