The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market December 2019

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
101
Active Inventory
175
Median Sale Price
$895,000
Days On Market
52
Up
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 101 sold this month in Bethesda and Cabin John Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 97 units or 36%. The total number of active inventory this December was 175 compared to 272 in December 2018. This month's total of 175 is lower than the previous month's total supply of available inventory of 303, a decrease of 42%.

Median Sale Price
Last December, the median sale price for Bethesda and Cabin John Homes was $825,000. This December, the median sale price was $895,000, an increase of 8% or $70,000 compared to last year. The current median sold price is 9% lower than in November.

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


New Listings
52
Current Contracts
61
Sold Vs. List Price
98.2%
Months of Supply
1.7
Up 30%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In December, there was 1.7 months of supply available in Bethesda and Cabin John, compared to 4.1 in December 2018. That is a decrease of 58% 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 52 homes newly listed for sale in Bethesda and Cabin John compared to 40 in December 2018, an increase of 30%. There were 61 current contracts pending sale this December compared to 59 a year ago. The number of current contracts is 3% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Bethesda and Cabin John was 98.2% of the average list price, which is 2.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 52, higher than the average last year, which was 44, an increase of 18%.

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.