The Long & Foster Market Minute

Focus On: Kensington and North Bethesda Housing Market March 2019

Zip Code(s): 20895 and 20814
Units Sold
49
Active Inventory
144
Median Sale Price
$490,000
Days On Market
74
Down -23%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 106%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 49 sold this month in Kensington and North Bethesda Real Estate versus 46 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 23% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 11%. The total number of active inventory this March was 144 compared to 161 in March 2018. This month's total of 144 is higher than the previous month's total supply of available inventory of 132, an increase of 9%.

Median Sale Price
Last March, the median sale price for Kensington and North Bethesda Homes was $634,950. This March, the median sale price was $490,000, a decrease of $144,950 compared to last year. The current median sold price is lower 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
111
Current Contracts
72
Sold Vs. List Price
99.2%
Months of Supply
2.9
Down -3%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Up 17%
Vs. Year Ago

Months of Supply
In March, there was 2.9 months of supply available in Kensington and North Bethesda, compared to 2.5 in March 2018. That is an increase of 17% 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 111 homes newly listed for sale in Kensington and North Bethesda compared to 115 in March 2018, a decrease of 3%. There were 72 current contracts pending sale this March compared to 70 a year ago. The number of current contracts is 3% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Kensington and North Bethesda was 99.2% 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 74, higher than the average last year, which was 36, an increase of 106%.

The Long & Foster Market Minute Kensington and North Bethesda are defined as properties listed in zip code/s 20895 and 20814.
*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.