The Long & Foster Market Minute

Focus On: Kensington and North Bethesda Housing Market March 2021

Zip Code(s): 20895 and 20814
Units Sold
66
Active Inventory
88
Median Sale Price
$763,825
Days On Market
26
Down -10%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 66 sold this month in Kensington and North Bethesda Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 25%. The total number of active inventory this March was 88 compared to 118 in March 2020. This month's total of 88 is lower than the previous month's total supply of available inventory of 103, a decrease of 15%.

Median Sale Price
Last March, the median sale price for Kensington and North Bethesda Homes was $730,000. This March, the median sale price was $763,825, an increase of 5% or $33,825 compared to last year. The current median sold price is 5% higher than in February.

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


New Listings
100
Current Contracts
100
Sold Vs. List Price
101.4%
Months of Supply
1.3
Down -10%
Vs. Year Ago
Up 39%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Kensington and North Bethesda, compared to 1.6 in March 2020. That is a decrease of 18% 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 100 homes newly listed for sale in Kensington and North Bethesda compared to 111 in March 2020, a decrease of 10%. There were 100 current contracts pending sale this March compared to 72 a year ago. The number of current contracts is 39% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Kensington and North Bethesda was 101.4% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 47, a decrease of 45%.

The Long & Foster Market Minute Kensington and North Bethesda are defined as properties listed in zip code/s 20895 and 20814.
*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.