The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market August 2022

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
114
Active Inventory
126
Median Sale Price
$1,112,500
Days On Market
17
Down -23%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 114 sold this month in Bethesda and Cabin John Real Estate versus 112 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 23% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 62 units or 33%. The total number of active inventory this August was 126 compared to 188 in August 2021. This month's total of 126 is lower than the previous month's total supply of available inventory of 165, a decrease of 24%.

Median Sale Price
Last August, the median sale price for Bethesda and Cabin John Homes was $1,010,000. This August, the median sale price was $1,112,500, an increase of 10% or $102,500 compared to last year. The current median sold price is 1% lower 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
108
Current Contracts
114
Sold Vs. List Price
100.7%
Months of Supply
1.1
Down -8%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In August, there was 1.1 months of supply available in Bethesda and Cabin John, compared to 1.3 in August 2021. That is a decrease of 12% 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 108 homes newly listed for sale in Bethesda and Cabin John compared to 118 in August 2021, a decrease of 8%. There were 114 current contracts pending sale this August compared to 104 a year ago. The number of current contracts is 10% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Bethesda and Cabin John was 100.7% 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 17, lower than the average last year, which was 21, a decrease of 19%.

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.