The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market August 2019

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
120
Active Inventory
266
Median Sale Price
$937,000
Days On Market
55
Up 10%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 45%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 120 sold this month in Bethesda and Cabin John Real Estate versus 139 last month, a decrease of 14%. This month's total units sold was higher than at this time last year, an increase of 10% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 59 units or 18%. The total number of active inventory this August was 266 compared to 325 in August 2018. This month's total of 266 is lower than the previous month's total supply of available inventory of 320, a decrease of 17%.

Median Sale Price
Last August, the median sale price for Bethesda and Cabin John Homes was $863,000. This August, the median sale price was $937,000, an increase of 9% or $74,000 compared to last year. The current median sold price is 10% 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
107
Current Contracts
97
Sold Vs. List Price
97.1%
Months of Supply
2.2
Down -20%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In August, there was 2.2 months of supply available in Bethesda and Cabin John, compared to 3.0 in August 2018. That is a decrease of 26% 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 107 homes newly listed for sale in Bethesda and Cabin John compared to 134 in August 2018, a decrease of 20%. There were 97 current contracts pending sale this August compared to 76 a year ago. The number of current contracts remained stable as compared to last August.

Sale Price to List Price Ratio
In August, the average sale price in Bethesda and Cabin John was 97.1% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 55, higher than the average last year, which was 38, an increase of 45%.

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.