In 2002 2BR/2BA Condos in Bethesda there were 94 sales. The average was 288K.
The Median price was 246K. The range was between $149,000 and $760,000.
By comparison, in 2012 there were 86 sales. The average price was 484K. The median price was 416K. The range was between 186K and 1.475M.
It's good to look at how things have evolved in the market. These are the numbers according to the which should be pretty accurate. In 2002 there market was on an upswing until about 2007. Now the market is defferent. As you can see there are some properties on lower end and these are likely short sales and foreclosures. As well, there are the properties that are on the very high end. For this reason, it's often good to look at the median rather than the average price because the outliers can skew the numbers even if only a little.
I hope this helps answer some of your questions. Feel free to contact me by phone or email with any questions.
WC & AN Miller
Long & Foster Co.