Bethesda Luxury Homes Market Report

The Bethesda Luxury Home Summer Sales Report

This market report draws on data from every area in Bethesda.  Normally I'd take data from a much smaller geogrphical pool (mircro-markets) because, as I've pointed out in previous posts about micro-niches, you can’t talk about the "Washington DC area market", or the "DC Metropolitan market", or the "Bethesda MD real estate" market or, or even the Downtown Bethesda market.  Instead, you have to analyze prices on almost a almost a block-by-block basis, and consider not only location, but also product.  But sometimes it's fun to take larger geographical areas and break down data by product or price-point.  And despite this "anti-micromarket" theme, there's always something to learn.

Luxury Homes in Bethesda Maryland

Comparing luxury homes in Bethesda MD sales from the period of June 1 - July 31, 2007 and 2008.  For purposes of this report, I'm defining luxury as any single family home that sold for $1.695M or more.

 *rounded to nearest whole number

Clearly, we're a little short on 2008 data (in this small time-period) to come to any fair conclusions about state of the Bethesda luxury home market.  However, the amount of properties (or lack there-of) setttled in this 61 day stretch this year tells us that even properties in the most prestigious areas are taking longer to sell.  Not much of an analysis I know (!) but the luxury market is a difficult genre to track regardless of areas or market adjustments.  I'll revisit this Bethesda Luxury homes again using a longer time period in a few months after we see many of the properties that have contracted in this "spring-like" period settle.

Contributing Blogger: Kevin Koitz

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