As I am sure you may have heard on the news and read in the paper, real estate is back! As professional agents, Brian and I are hearing comments from people that it must be a great time to be in real estate. Well, the market has certainly surged again and it’s nice that we no longer have to comfort sellers who were unable to sell their homes for an acceptable price as we did during the dog days of the Great Recession; however, now it’s the buyers that need comfort and encouragement! It’s pretty tough to find a home right now in Bethesda…and when they do finally settle on one, they often find themselves in competition for the purchase.
See the picture? We have less than one month of home sale inventory below $1 million. That means more homes are currently selling in a month than are being listed in that price bracket. In the range north of $1 million, we have about a 2-3 month’s supply of inventory, according to the multiple listing service. Of course inventory is boosted in that range by builders who have come back into the market, actively removing old dilapidated homes from lots and rebuilding brand new homes, typically in the range of 5,000+ square feet in size.
If you’re thinking of selling a home in Bethesda, it’s definitely a great time to do so. We offer a complimentary market analysis, at your request. If you’re thinking of buying, let’s talk about a home buying strategy. We have been helping clients buy homes that are not yet listed for sale where possible. A pro-active plan is often the best approach! With interest rates so low, it’s still a great time to buy even though inventory is tight.
Stay tuned for more real estate updates and in the meantime here is a list of the current homes for sale in Bethesda (updated daily):
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