Chevy Chase, MD Homes for Sale

In May 2025, Chevy Chase experienced a sharp 24.8% year-over-year increase in home prices, with the median sale price rising to $1.8M—a reflection of strong demand in the upper-tier market. However, the pace of sales has slowed significantly, with homes now averaging 48 days on the market compared to just 12 days a year ago. This increase in days on market may suggest a more deliberate buying process at higher price points or a mismatch between buyer expectations and current pricing. Additionally, only 9 homes were sold in May, down from 12 the previous year, indicating limited inventory or a cooling in transaction volume. Overall, while pricing power remains strong, the slower sales cycle hints at shifting market dynamics that both buyers and sellers should closely watch.

Chevy Chase remains a very competitive market, with homes typically selling in just 11 days and often receiving multiple offers—some with waived contingencies to strengthen buyer positions. On average, properties sell for about 2% above the asking price and go under contract quickly, reflecting strong buyer demand. Hot homes, particularly those in desirable locations or in turnkey condition, can move even faster—going pending in as little as 4 days and still commanding offers above list price. In this fast-paced environment, buyers need to act decisively, while sellers are well-positioned to leverage favorable conditions for strong returns.

Chevy Chase Town, MD is a buyer’s market as of June 2025, indicating that housing supply currently exceeds buyer demand. This creates more options and negotiating power for buyers, who may benefit from longer days on market, price reductions, and flexible terms. Sellers, on the other hand, may need to adjust pricing strategies and expectations to stay competitive in a slower-moving environment.