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.
Chevy Chase is perennially one of the more competitive DC neighborhood housing markets where high prices, high demand and low supply are constant themes. While UrbanTurf has anecdotally heard that many of these things represented the 2020 market pre-COVID, homes sales have already dropped off compared to last year. It will be interesting to see how the virus affects things in the coming months.
Below are some statistics that UrbanTurf compiled about the Chevy Chase market.
- $1.045 million — The average home sales price in Chevy Chase DC in 2020, down slightly from 2019.
- 30 — The number of homes sold so far in 2020, down 19% compared to last year.
- 3 weeks — The supply of homes on the market in March.
- 1.73 — The contract ratio in March, meaning that almost two homes went under contract in the month for every active listing.
- 53% — The percentage of homes that sold within ten days of being listed in 2020.