Mid-Year Report for Chevy Chase DC: Prices Still on the Rise as Low Inventory Continues to Drive Market Conditions The ongoing tight inventory situation in Chevy Chase DC has provided upward pressure on prices as well as impacted how houses are selling. Median and Average Sales Prices each increased by about $100,000 or roughly 10%, while the number of transactions which went under contract during that January through June period dropped by 25%, with only 81 deals in the 1st half of 2018, compared to 107 during that timeframe in 2017. Both the median and average “sales price as a percentage of list price” remained at around 101% - 102% (meaning a typical house sold for just slightly over the
Steve is building a house! Join us as we document Steve's journey to building a new home right here in Chevy Chase DC! Over the next year, we'll watch this beautiful home being built before our eyes. We're anticipating a delivery date of July 1, 2019, so stay tuned! Our first update: The crew has kicked off the project with a back hoe and started digging out the foundation. Once finished, the house will have 6BR/5.5BA and a particularly stunning kitchen and family room. Fun fact: The now vacant lot was the back half of the lot Steve's current home sits on. We're looking at estimated completion around July 1, 2019, so here's to hoping we stay on track!
