The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market June 2021

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
175
Active Inventory
185
Median Sale Price
$1,005,000
Days On Market
20
Up
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 175 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 61 units or 25%. The total number of active inventory this June was 185 compared to 246 in June 2020. This month's total of 185 is higher than the previous month's total supply of available inventory of 166, an increase of 11%.

Median Sale Price
Last June, the median sale price for Bethesda and Cabin John Homes was $965,000. This June, the median sale price was $1,005,000, an increase of 4% or $40,000 compared to last year. The current median sold price is 7% lower than in May.

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


New Listings
223
Current Contracts
172
Sold Vs. List Price
104.9%
Months of Supply
1.1
Up 28%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Bethesda and Cabin John, compared to 2.1 in June 2020. That is a decrease of 50% 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 223 homes newly listed for sale in Bethesda and Cabin John compared to 174 in June 2020, an increase of 28%. There were 172 current contracts pending sale this June compared to 125 a year ago. The number of current contracts is 38% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bethesda and Cabin John was 104.9% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 38, a decrease of 47%.

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.