The Long & Foster Market Minute

Focus On: Kensington and North Bethesda Housing Market August 2018

Zip Code(s): 20895 and 20814
Units Sold
64
Active Inventory
170
Median Sale Price
$652,500
Days On Market
48
Down -10%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 60%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 64 sold this month in Kensington and North Bethesda Real Estate versus 84 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 10% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 11%. The total number of active inventory this August was 170 compared to 190 in August 2017. This month's total of 170 is higher than the previous month's total supply of available inventory of 169, an increase of 1%.

Median Sale Price
Last August, the median sale price for Kensington and North Bethesda Homes was $585,000. This August, the median sale price was $652,500, an increase of 12% or $67,500 compared to last year. The current median sold price is 6% 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
88
Current Contracts
53
Sold Vs. List Price
98.1%
Months of Supply
2.7
Up 7%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in Kensington and North Bethesda. 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 88 homes newly listed for sale in Kensington and North Bethesda compared to 82 in August 2017, an increase of 7%. There were 53 current contracts pending sale this August compared to 57 a year ago. The number of current contracts is 7% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Kensington and North Bethesda was 98.1% 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 48, higher than the average last year, which was 30, an increase of 60%.

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 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.