The Long & Foster Market Minute

Focus On: Bethesda and Cabin John Housing Market March 2021

Zip Code(s): 20814, 20816, 20817, 20818, 20812, 20889, 20892 and 20894
Units Sold
110
Active Inventory
151
Median Sale Price
$1,048,250
Days On Market
28
Up 20%
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -40%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 110 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 84 units or 36%. The total number of active inventory this March was 151 compared to 235 in March 2020. This month's total of 151 is lower than the previous month's total supply of available inventory of 161, a decrease of 6%.

Median Sale Price
Last March, the median sale price for Bethesda and Cabin John Homes was $837,000. This March, the median sale price was $1,048,250, an increase of $211,250 compared to last year. The current median sold price is 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
176
Current Contracts
160
Sold Vs. List Price
101.5%
Months of Supply
1.4
Up 1%
Vs. Year Ago
Up 45%
Vs. Year Ago
Up 3.9%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In March, there was 1.4 months of supply available in Bethesda and Cabin John, compared to 2.6 in March 2020. That is a decrease of 46% 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 176 homes newly listed for sale in Bethesda and Cabin John compared to 174 in March 2020, an increase of 1%. There were 160 current contracts pending sale this March compared to 110 a year ago. The number of current contracts is 45% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bethesda and Cabin John was 101.5% of the average list price, which is 3.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 47, a decrease of 40%.

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.