2014 | Real Estate

Most, Least Expensive Of Bethesda-Chevy Chase Real Estate In 2014

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Theoretically, you could buy 66 condos in one Pooks Hill complex for the price of one luxury condo sold this year in Friendship Heights.

That and other findings are included in the 2014 Bethesda-Chevy Chase real estate roundup from real estate website Redfin.

Local Redfin agent Kris Paolini helped pull together the facts and figures. The Friendship Heights condo referenced before was sold in April for $8.65 million, making the 6,700-square-foot pad at 5630 Wisconsin Avenue the most expensive home sold in the area this year.

For the same price, one could buy 66 one-bedroom condo units at the Promenade Towers co-op buildings at 5225 Pooks Hill Road.

Two of the three least expensive properties sold this year in Bethesda and Chevy Chase were on the seventh floor of the Promenade’s North building. One sold for $130,000 in February and another sold for $137,000 in August.

The second least expensive property sold was a one-bedroom condo sold for $135,000 in the Promenade’s South building in April.

According to Paolini, the second most expensive home sold in Bethesda-Chevy Chase this year was at 5104 Moorland Lane. The nine-bedroom, 10-bath giant in the Edgemoor neighborhood sold for $8.55 million in August.

A six-bed, eight-bath home at 6800 Hillmead Road sold in June for $7.35 million, ranking as the third most expensive property sold in the area.

When it comes to the hottest properties sold, Paolini said this Chevy Chase home topped the list, despite a lack of listing photos. The 7402 Ridgewood Avenue home sold for $375,000 over list price just five days after it was put on the market.
“It’s hard to determine exactly why this particular Chevy Chase property sold so high above its asking price, but with a median list price in this zip code of $1.72 million, a sale price of $1.21 million is nothing out of the ordinary even if the place required renovations,” Paolini said.
Despite a steady increase in the number of home teardown projects around town, a number of older homes performed quite well when it came to market popularity.
This four-bed, 3.5-bath Baltimore Avenue home was originally built in 1939, but it sold for $186,000 over list price after just four days on the market.
“This classic home was completely move-in ready,” Paolini said. “With nice landscaping, a large, functional basement and lots of charm, it’s not surprising this was a popular property.”
This four-bed, three-bath rambler built in 1958 sold for $175,000 over list price after four days on the market, another one of the properties that went way over asking price shortly after going on the market.
Photo via MRIS