Home Price Watch: Chevy Chase, The Land of Four-Bedrooms
For this week’s edition of Home Price Watch, UrbanTurf heads to Chevy Chase DC, where the housing market has been churning at a relatively fast pace in 2017.
Fifty-five percent of the homes sold in Chevy Chase this year did so within ten days of hitting the market. Quick turnaround in the neighborhood has led to dwellings being listed at a slightly higher price through the first quarter of 2017 (approximately $950,000) than they were listed for during the first three months of last year. The average sales price to original list price ratio sits just below 100 percent, meaning that, despite the increase in listing price, homes are still selling for about asking price on average.
story continues below
loading...story continues above

Months of supply in Chevy Chase DC
While median sales prices haven’t risen that much in the neighborhood from last year, there has been an uptick in prices for perhaps the neighborhood’s most popular property type — detached houses with four or more bedrooms. Prices for this type of home have risen 12 percent since last year to over $1.2 million.
The trajectory for many of the statistics outlined in this article could attributed to the metric that is plaguing the entire city: inventory. Chevy Chase has had just about a month’s supply of homes for sale on the market in 2017.
Housing data for the legal subdivision of Chevy Chase DC for this article was provided by RealEstate Business Intelligence. DC’s Chevy Chase neighborhood is between Western and Oregon Avenues and 41st Street to the northwest, and Broad Branch Road, 36th Street and Nebraska Avenue to the southeast.
See other articles related to: home price watch, chevy chase dc home prices, chevy chase dc, chevy chase
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_chevy_chase_the_land_of_four_bedrooms/12520
Most Popular... This Week • Last 30 Days • Ever

An analysis by UrbanTurf found that there were 15 neighborhoods in DC where the media... read »

The project is the first Rosslyn high-rise that will include affordable units.... read »

Data shows that DC is 40% of the way to reaching the 36,000-by-2025 goal — but stil... read »

Another 7-Eleven site redevelopment is (back) in the works — this time in downtown... read »

Tysons Corner also comes in tenth nationwide in number of apartments built since 2016... read »
- DC Has Its Most Million-Dollar Neighborhoods on Record
- Arlington County Approves 740-Apartment Ames Center Site Redevelopment
- 14,400 Units: DC is Nearly Halfway to Meeting 2025 Housing Production Goals
- Same Team, Different Development: 450 Units Proposed for Downtown Bethesda Site
- 2,562 New Units: Tysons Tops DC Suburbs in Apartments Built
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro