The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market June 2019

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
135
Active Inventory
316
Median Sale Price
$923,000
Days On Market
29
Down -18%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -37%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 135 sold this month in Bethesda and Cabin John Real Estate versus 139 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 18% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 9%. The total number of active inventory this June was 316 compared to 346 in June 2018. This month's total of 316 is lower than the previous month's total supply of available inventory of 374, a decrease of 16%.

Median Sale Price
Last June, the median sale price for Bethesda and Cabin John Homes was $955,000. This June, the median sale price was $923,000, a decrease of 3% or $32,000 compared to last year. The current median sold price is 3% higher than in May.

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


New Listings
154
Current Contracts
136
Sold Vs. List Price
98.9%
Months of Supply
2.3
Down -7%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In June, there was 2.3 months of supply available in Bethesda and Cabin John, compared to 2.1 in June 2018. That is an increase of 11% 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 154 homes newly listed for sale in Bethesda and Cabin John compared to 166 in June 2018, a decrease of 7%. There were 136 current contracts pending sale this June compared to 123 a year ago. The number of current contracts is 11% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bethesda and Cabin John was 98.9% 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 29, lower than the average last year, which was 46, a decrease of 37%.

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.