Chevy Chase MD homes see DOM measurement fall off a cliff

This graph, showing the Median Days On Market measurements over the past year for Chevy Chase MD homes for sale, shows a massive dropping off in just the past week or two.  In early march, it looks like the median amount of time a Chevy Chase home was staying on the market was close to 100 days.  But now, within the same month, that measurement has plummeted to almost 50, maybe 52 days!  That's absurd!

My guess is that we will a very quick rebound, and this market trend will last a relatively short time.  This is likely an anomoly than anything else.  Instead of believing that all of the homes in Chevy Chase are now selling half the time that they were last month, I think it is more likely that some of the homes that have been on the market for quite awhile, left the market.  And at the same time, as spring arrives, many new listings are hitting the market, really skewing the whole median number downward!

That's my guess, but let's keep an eye on this for the next month or so and see where this takes us.

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