The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market August 2018

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
105
Active Inventory
329
Median Sale Price
$865,000
Days On Market
36
Down -12%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 105 sold this month in Bethesda and Cabin John Real Estate versus 126 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 12% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 11%. The total number of active inventory this August was 329 compared to 369 in August 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last August, the median sale price for Bethesda and Cabin John Homes was $819,500. This August, the median sale price was $865,000, an increase of 6% or $45,500 compared to last year. The current median sold price is 7% higher than in July.

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


New Listings
132
Current Contracts
79
Sold Vs. List Price
98.0%
Months of Supply
3.1
Down -5%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 3.1 months of supply available in Bethesda and Cabin John. The amount of supply is similar compared to 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 132 homes newly listed for sale in Bethesda and Cabin John compared to 139 in August 2017, a decrease of 5%. There were 79 current contracts pending sale this August compared to 97 a year ago. The number of current contracts is 19% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Bethesda and Cabin John was 98.0% 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 36, higher than the average last year, which was 34, an increase of 6%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.