June 2019 Bethesda Real Estate Market Update
As compared to June 2018, this past June in Bethesda and Cabin John saw a decrease in inventory, fewer days on the market, and more contracts. This report pertains to zip codes 20814, 20816, 20817, 20818, 20812, 20889, 20892, and 20894.
In June 2019, there were a total of 135 units sold, down 18% from June 2018. With an active inventory of 316, this was down 9% from a year ago, where the active inventory was 346. Not only was inventory leaner, but new listings were also down from 166 last June to 154 this June, a 7% decrease. However, despite less listings, there were 136 current contracts, up 11% from last year’s 123.
Homes for sale in June 209 had a median sales price of $923,000, which is down 3% versus last June’s $955,000, but 3% higher than homes for sale in Bethesda May 2019. There was no change with sold versus list price.
Months of supply, calculated by dividing current inventory from current sales, represents how many months would be needed to sell all of the inventory available at the current rate of demand. June 2019 had 2.3 months of supply, up 11% versus a year ago. The average days on market for homes for sale in Bethesda was 29, down 37% from last June where the average home for sale was on the market for 46 days.
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