Chevy Chase Home Sales Remain Steady For Tech Savvy Realtors

A lot has changed since the late nineties, particularly for people in the homes selling business, such as Chevy Chase homes for sale. A realtor of the nineties would be equipped with a few modest tools – a car, an office phone, a fax machine, a mobile phone, and a simple website with a couple of the prominent homes featured. It took a lot of driving and legwork to make home sales happen back then. It could be 10 showings before a buyer found a place he or she liked.

Today’s buyer does extensive research before the realtor even gets a phone call. Using the local Multiple Listing Service, a buyer can read all the details of homes on the market, look at photos, watch YouTube videos, take virtual tours, and search the surrounding area using Google Maps. To keep up with the demand for knowledge, realtors need to adopt the tools of the trade and update their technology so their home sales remain steady.

For instance, the best realtors have blogs – which are the #1 referral tool these days. Realtors might write about area schools, new communities being built, local architectural styles, first time home buyer credits, area entertainment – anything that buyers can use to make more informed purchases. The average realtor spends 1-2 hours a day blogging and posts 4-5 times per week. The more content a realtor has, the more search engines love the blog… and the more search engines love the blog, the more referrals and home sales the realtor gets. The blog acts as a central hub for linking to and from social media pages like Twitter, Facebook, or LinkedIn. Readers can comment, share the blog, subscribe to an RSS feed, download pamphlets, and directly contact a realtor through a successful blog. 

Smartphones are an essential part of home sales these days too. There are GPS-enabled mobile apps where buyers can find out the list price of the homes for sale they drive past. Realtors can stay connected with their sites in real-time, responding to inquiries immediately via their web-surfing phones. They can add photos and videos, update social media pages, or chat with clients in real-time. For many modern realtors, there is never a moment’s rest… but at least home sales are steady.

For more information about home sales in or around the Washington DC area, including Bethesda, Potomac and Chevy Chase, please visit www.DCRealEstateMarketplace.com

Chevy Chase MD Luxury Homes See Median Asking Price Fall Almost $600,000 In 2 Years

I recently wrote an article on http://dcrealestatemarketplace.com about two years worth of data for Chevy Chase MD homes and their median asking price.  But the graph above is a bit different, this graph looks only at the most expensive 25% of homes currently for sale at any given time.

Looking at this group of homes, we can see that Chevy Chase MD luxury homes for sale have seen quite a large drop in value.  Two years ago, in May of 2009, the median asking price of the most expensive quartile of homes for sale was right around 2.9 million dollars.

Over the next 24 months, that asking price fell, and fell, all the way to $1,900,000 before recovering a bit to get to our most current measurement of $2,300,000.  While that is a small increase from earlier this year, our latest asking price value is still about $600,000 lower than it was just two years ago.

Chevy Chase MD Luxury Homes For Sale - Video - April 2011 Update

Chevy Chase MD Luxury Homes For Sale

Homes For Sale In Chevy Chase MD - Video - April 2011 Market Update

Homes For Sale In Chevy Chase MD

Video Update For Chevy Chase MD Homes For Sale - March 2011

Chevy Chase MD Homes For Sale

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.

For more information on Chevy Chase MD, as well as Bethesda, Silver Spring, Potomac and Avenel, please visit http://dcrealestatemarketplace.com