The Long & Foster Market Minute

FOCUS ON: BETHESDA AND CABIN JOHN HOUSING MARKET APRIL 2024

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
109
Active Inventory
139
Median Sale Price
$1,377,500
Days On Market
18
Up 21%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 109 sold this month in Bethesda and Cabin John Real Estate versus 95 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 21% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 12 units or 9%. The total number of active inventory this April was 139 compared to 127 in April 2023. This month's total of 139 is lower than the previous month's total supply of available inventory of 145, a decrease of 4%.

Median Sale Price
Last April, the median sale price for Bethesda and Cabin John Homes was $1,208,750. This April, the median sale price was $1,377,500, an increase of 14% or $168,750 compared to last year. The current median sold price is 24% higher than in March.

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


New Listings
131
Current Contracts
116
Sold Vs. List Price
102.9%
Months of Supply
1.3
Up 3%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In April, there was 1.3 months of supply available in Bethesda and Cabin John, compared to 1.4 in April 2023. That is a decrease of 10% 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 131 homes newly listed for sale in Bethesda and Cabin John compared to 127 in April 2023, an increase of 3%. There were 116 current contracts pending sale this April compared to 111 a year ago. The number of current contracts is 5% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Bethesda and Cabin John was 102.9% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, higher than the average last year, which was 14, an increase of 29%.

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.