The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market March 2019

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -27%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 82%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 72 sold this month in Bethesda and Cabin John Real Estate versus 83 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 27% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 13%. The total number of active inventory this March was 266 compared to 306 in March 2018. This month's total of 266 is higher than the previous month's total supply of available inventory of 258, an increase of 3%.

Median Sale Price
Last March, the median sale price for Bethesda and Cabin John Homes was $859,000. This March, the median sale price was $867,500, an increase of 1% or $8,500 compared to last year. The current median sold price is 3% higher than in February.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -23%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In March, there was 3.7 months of supply available in Bethesda and Cabin John, compared to 3.1 in March 2018. That is an increase of 20% 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 165 homes newly listed for sale in Bethesda and Cabin John compared to 214 in March 2018, a decrease of 23%. There were 108 current contracts pending sale this March compared to 134 a year ago. The number of current contracts is 19% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bethesda and Cabin John was 99.0% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 34, an increase of 82%.

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.