The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market July 2019

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
137
Active Inventory
292
Median Sale Price
$850,000
Days On Market
42
Up 9%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 2%
Vs. Year Ago

Units Sold
The number of units sold remained stable in July, with 137 sold this month in Bethesda and Cabin John Real Estate. This month's total units sold was higher than at this time last year, an increase of 21% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 7%. The total number of active inventory this July was 292 compared to 315 in July 2018. This month's total of 292 is lower than the previous month's total supply of available inventory of 355, a decrease of 18%.

Median Sale Price
Last July, the median sale price for Bethesda and Cabin John Homes was $802,500. This July, the median sale price was $850,000, an increase of 6% or $47,500 compared to last year. The current median sold price is 8% lower than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
136
Current Contracts
97
Sold Vs. List Price
98.6%
Months of Supply
2.1
Up 21%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In July, there was 2.1 months of supply available in Bethesda and Cabin John, compared to 2.5 in July 2018. That is a decrease of 15% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 136 homes newly listed for sale in Bethesda and Cabin John compared to 112 in July 2018, an increase of 21%. There were 97 current contracts pending sale this July compared to 86 a year ago. The number of current contracts is 13% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Bethesda and Cabin John was 98.6% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, higher than the average last year, which was 41, an increase of 2%.

The Long & Foster Market Minute Bethesda and Cabin John are defined as properties listed in zip code/s 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.