HOMESbyRP of eXp Realty / Richard Pearrell

Chevy Chase, MD

Single-Family Homes

https://HOMESbyRP.com GRI, Associate Broker DC, MD, VA & REALTOR® in FL at eXp Realty, LLC / (301) 991-7061 /


Chevy Chase, MD

Fri Jul 26 2024
This week the median list price for Chevy Chase, MD is $2,470,000 with the market action index hovering around 47. This is less than last month's market action index of 50. Inventory has increased to 31. Click here to stay informed with the Chevy Chase market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Chevy Chase, MD

Fri Jul 26 2024
This week the median list price for Chevy Chase, MD is $2,470,000 with the market action index hovering around 47. This is less than last month's market action index of 50. Inventory has increased to 31. Click here to stay informed with the Chevy Chase market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Chevy Chase market.
Median List Price $2,470,000
Median Price of New Listings $1,895,000
Per Square Foot $607
Average Days on Market 55
Median Days on Market 28
Price Decreased 26%
Price Increased 3%
Relisted 6%
Inventory 31
Median Rent
Market Action 47
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$4,375,000 6,085 0.25 - 0.5 acre 6 6 2 0 0 70
$3,022,500 5,300 0.25 - 0.5 acre 5 5.3 49 1 0 35
$2,272,500 4,070 8,000 - 10,000 sqft 5 4.5 74 2 1 17
$1,049,950 1,848 4,500 - 6,500 sqft 4 3 86 0 3 24