The Long & Foster Market Minute

FOCUS ON: BETHESDA AND CABIN JOHN HOUSING MARKET MAY 2024

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
112
Active Inventory
135
Median Sale Price
$1,288,750
Days On Market
17
Up 3%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 112 sold this month in Bethesda and Cabin John Real Estate versus 109 last month, an increase of 3%. This month's total units sold was higher than at this time last year, an increase of 3% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 5%. The total number of active inventory this May was 135 compared to 129 in May 2023. This month's total of 135 is lower than the previous month's total supply of available inventory of 164, a decrease of 18%.

Median Sale Price
Last May, the median sale price for Bethesda and Cabin John Homes was $1,165,000. This May, the median sale price was $1,288,750, an increase of 11% or $123,750 compared to last year. The current median sold price is 6% lower than in April.

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


New Listings
100
Current Contracts
103
Sold Vs. List Price
103.1%
Months of Supply
1.2
Down -22%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 1.2 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 100 homes newly listed for sale in Bethesda and Cabin John compared to 128 in May 2023, a decrease of 22%. There were 103 current contracts pending sale this May compared to 111 a year ago. The number of current contracts is 7% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Bethesda and Cabin John was 103.1% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, which is similar compared to a year ago.

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.