With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head over to Chevy Chase DC.
Year in and year out, Chevy Chase is regularly one of the more competitive DC neighborhood housing markets where high prices, high demand and low supply are constant themes. All those characteristics are in overdrive in 2021. Home sales are up 88% year over year, even with prices up 15%. As for supply, it stood at about two weeks in the first quarter of the year, about as low as it gets in the city.
Below are some statistics that UrbanTurf compiled about the Chevy Chase market.
- $1.24 million -- The median home sales price in Chevy Chase DC in 2021, up 14.8 percent compared to 2020.
- $1.74 million -- The average sales price on a detached home with 4+ bedrooms, up 39 percent compared to 2020.
- 102.6% -- The average sales price to original list price ratio in the neighborhood in 2021.
- 2.44 -- The contract ratio in February, meaning that more than two homes went under contract in the month for every active listing.
- 64% -- The percentage of homes that sold within ten days of being listed in 2021.
This article originally published at https://dc.urbanturf.com/articles/blog/a-39-percent-jump-the-chevy-chase-dc-market-by-the-numbers/18089.
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