23 Aug 2014
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Chevy Chase Makes 'Hottest Neighborhoods' List

Did you know Chevy Chase real estate was so hot?

Chevy Chase Makes 'Hottest Neighborhoods' List
Chevy Chase's real estate market—known for its high prices—has been getting some extra attention lately.

Urban Turf's recent examination of Maryland neighborhoods found that Chevy Chase's ZIP code 20815 had the highest average price per square foot—$490—in Maryland in 2013, and its median sales price last year was $810,000.

That median sales price was topped in Maryland only by that of the 20816 ZIP code (Glen Echo and Crestview, Bethesda), which was $859,000 in 2013. ZIP code 20816 came in at No. 2 on Urban Turf's list of Maryland ZIPs with the highest premium square footage.

Nos. 3 and 4 on that list also were in Bethesda: ZIP codes 20814 and 20817, respectively.

And, Redfin—an online real estate brokerage with agents in several regions throughout the United States—listed the "Upper Chevy Chase" neighborhood of Washington, DC, at No. 3 on its  Top Ten Hottest Neighborhoods of 2014 list.

The list is "based on millions of homebuyers' searches on Redfin.com leading into the new year. ... [We] analyzed the growth in our website visitors' pageviews [430 percent growth in Upper Chevy Chase, DC] and homes they added as 'Favorites' and collected Redfin agents' insights into which areas have seen the biggest growth in popularity among today's homebuyers," according to a Redfin news release.

"Upper Chevy Chase has become a popular destination for buyers looking for single-family homes and highly rated schools. Chevy Chase is priced significantly lower than Georgetown and has single-family homes, which are lacking on Capitol Hill. People often happily settle on Upper Chevy Chase after realizing they can have top-rated schools without having to leave the District or abandon the ability to quickly get downtown," according to Redfin agent  Philip Gvinter, Redfin.com reported.

If you were to choose between Chevy Chase, DC, and Chevy Chase, MD, which would you pick? Tell us in the comments.

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