It’s a little late in the year for that, but today, it occurred to me to re-run the stats for Chevy Chase. We’ve been constantly complaining about the low inventory–nothing there to offer out buyers–over the past couple of years, that I just needed to have another look. Turns out our sensors were right. Here we go:
In 2011, 226 single family homes sold in Chevy Chase, MD, for an average of $1,163,570. This was an increase of 3.6% over 2010 (238 homes/average $1,122,064). 129 condos sold for an average of $582,402.
In Chevy Chase, DC (zip code 20015), the picture looked similar: less houses sold for more money: 143 single family homes, for an average of $867,313 (2010: 173 houses/ average $849,998).
The really great (and well-priced) homes are still fought over. And many of them sell with multiple offers.
For a brief update on the whole Metro DC area, see the latest Evers & Co. March 2012 Real Estate Report summary.