Good morning, and welcome to this week’s Market Monday.

Our Weekend Market Pulse showed competition surged to 61% of new contracts netting an average of 1.6 offers. Inspection waivers fell from 50% to 21%, as 35% of buyers chose full inspections and 35% opted for pass/fail. Pricing outcomes split: 61% paid above list, 30% below, and just 9% at list.

Altos Research data for the week ending June 29 shows steady inventory levels across Montgomery County, mixed demand signals and varied pricing pressure.

🏡 Bethesda, MD – Single-Family Homes

* Median List Price: $2,050,000

* Median Price of New Listings: $1,621,900

* Price per Square Foot: $447

* Average Days on Market: 74

* Median Days on Market: 42

* Price Decreased: 33%

* Price Increased: 1%

* Relisted: 14%

* Inventory: 151

* Median Rent: $5,400

* Market Action Index: 41, slight seller’s advantage

Market Narrative: Sales and inventory have reached a stasis point, yet prices drift lower. Supply still favors sellers, so price declines will be light and uneven.

My Take: Bethesda is showing some weakness, especially in the upper two quartiles. But even the bottom two quartiles, inventory is outpacing absorption. At a medium price of $3,662,500, the top quartiles is crawling at 84 days on market. That said Days on Market in the bottom $1,150,000 median price range is a healthy 21 days.

🏢 Bethesda, MD – Condos/Townhomes

* Median List Price: $434,750

* Median Price of New Listings: $862,450

* Price per Square Foot: $345

* Average Days on Market: 40

* Median Days on Market: 32

* Price Decreased: 42%

* Price Increased: 0%

* Relisted: 4%

* Inventory: 48

* Median Rent: $3,030

* Market Action Index: 42, slight seller’s advantage

Market Narrative: More condos are available and demand has softened, which pushes prices lower. A sustained uptick in the index will signal a return to firmer pricing.

My Take: Days on market were under 30 for three of four segments. While the second quartile with a median price of $349,950 is at 49 days, only 1 new unit was added while three were absorbed.

🏡 Chevy Chase, MD – Single-Family Homes

* Median List Price: $2,199,800

* Median Price of New Listings: $2,485,000

* Price per Square Foot: $540

* Average Days on Market: 90

* Median Days on Market: 42

* Price Decreased: 40%

* Price Increased: 0%

* Relisted: 16%

* Inventory: 57

* Median Rent: $5,300

* Market Action Index: 37, slight seller’s advantage

Market Narrative: Sales and inventory sit in balance, yet prices edge lower. Watch for an index uptick to mark price stability.

My Take: I am seeing some weakness here, inventory out paced absorption in all but the second quartile with a median price of $1,925,000, which had zero new inventory or absorption this week.

🏢 Chevy Chase, MD – Condos/Townhomes

* Median List Price: $474,900

* Median Price of New Listings: $945,000

* Price per Square Foot: $407

* Average Days on Market: 89

* Median Days on Market: 56

* Price Decreased: 42%

* Price Increased: 0%

* Relisted: 10%

* Inventory: 71

* Median Rent: $2,765

* Market Action Index: 31, slight seller’s advantage

Market Narrative: The market has eased and prices have plateaued. If the index resumes its climb, prices will follow. A drop into buyer territory will trigger downward pressure.

My Take: Overall 3 units were added and 4 were absorbed. Interestingly 3 of the 4 absorbed where in the third quartile with a median price of $350,000.

🏡 Gaithersburg, MD – Single-Family Homes

* Median List Price: $889,000

* Median Price of New Listings: $874,900

* Price per Square Foot: $257

* Average Days on Market: 70

* Median Days on Market: 42

* Price Decreased: 40%

* Price Increased: 1%

* Relisted: 11%

* Inventory: 87

* Median Rent: $3,200

* Market Action Index: 46, strong seller’s market

Market Narrative: Sales and inventory are stable, and prices have not moved higher. Inventory remains low, keeping the market firmly in seller territory.

My Take: All four tiers absorbed at or above new supply. The bottom two tiers sold in under 30 days, underscoring broad‐based strength.

🏢 Gaithersburg, MD – Condos/Townhomes

* Median List Price: $475,000

* Median Price of New Listings: $500,000

* Price per Square Foot: $285

* Average Days on Market: 40

* Median Days on Market: 21

* Price Decreased: 35%

* Price Increased: 1%

* Relisted: 7%

* Inventory: 89

* Median Rent: $2,250

* Market Action Index: 55, strong seller’s market

Market Narrative: Demand outpaces supply and prices remain on an upward trend. Expect continued strength unless the index shifts lower.

My Take: Three of four tiers cleared new listings, with even the slowest segment selling in 24 days. That rapid turnover sustains price momentum.

🏡 Germantown, MD – Single-Family Homes

* Median List Price: $799,995

* Median Price of New Listings: $749,995

* Price per Square Foot: $265

* Average Days on Market: 48

* Median Days on Market: 28

* Price Decreased: 26%

* Price Increased: 0%

* Relisted: 16%

* Inventory: 38

* Median Rent: $2,598

* Market Action Index: 45, strong seller’s market

Market Narrative: The market has cooled and prices have plateaued. Sellers still hold the edge, but watch the index for early signs of a shift.

My Take: There is some weakness here but I do see signs of strength. Bottom two quartiles show 7-14 days on market and the third quartile at the $850,000 median price, absorption outpaced inventory 3 to 1.

🏢 Germantown, MD – Condos/Townhomes

* Median List Price: $367,750

* Median Price of New Listings: $435,000

* Price per Square Foot: $263

* Average Days on Market: 44

* Median Days on Market: 25

* Price Decreased: 42%

* Price Increased: 2%

* Relisted: 6%

* Inventory: 84

* Median Rent: $2,011

* Market Action Index: 54, strong seller’s market

Market Narrative: Despite a dip in the index, demand remains strong enough to keep the market in seller territory. A renewed index rise will lift prices again.

My Take: There was a surge of inventory in the top $535,000 median price quartile, 7 unit and only 1 absorbed, yet days on market still only sits a healthy 35 but I wouldn’t be surprised to see a drag on days on market in that quartile next week. The bottom 2 quartiles, absorption is matching new inventory.

🏡 Kensington, MD – Single-Family Homes

* Median List Price: $1,095,000

* Median Price of New Listings: $1,049,500

* Price per Square Foot: $352

* Average Days on Market: 69

* Median Days on Market: 49

* Price Decreased: 42%

* Price Increased: 3%

* Relisted: 12%

* Inventory: 33

* Median Rent: $4,075

* Market Action Index: 49, strong seller’s market

Market Narrative: More homes are available and demand has softened, yet prices hold firm. It may take several weeks of slack demand before prices dip.

My Take: Once again I ams seeing more strength than Altos. Top two quartiles absorption met inventory and it exceeded inventory in the bottom two.

🏡 Poolesville, MD – Single-Family Homes

* Median List Price: $1,000,000

* Median Price of New Listings: $574,900

* Price per Square Foot: $285

* Average Days on Market: 123

* Median Days on Market: 42

* Price Decreased: 20%

* Price Increased: 0%

* Relisted: 0%

* Inventory: 10

* Median Rent: $3,500

* Market Action Index: 37, slight seller’s advantage

Market Narrative: The market has cooled and prices have moved lower. Watch the index for signs of a rebound in demand.

My Take: Sample size is small here, and this market will be very property specific, but we did have only 1 unit added and two absorbed.

🏡 Potomac, MD – Single-Family Homes

* Median List Price: $1,799,949

* Median Price of New Listings: $1,250,000

* Price per Square Foot: $355

* Average Days on Market: 81

* Median Days on Market: 39

* Price Decreased: 29%

* Price Increased: 0%

* Relisted: 10%

* Inventory: 72

* Median Rent: $5,325

* Market Action Index: 42, slight seller’s advantage

Market Narrative: More supply has pushed prices lower. A rebound in the index will signal stabilizing or rising prices.

My Take: Absorption significantly outpaced inventory. 5 units added and 16 absorbed! 7 absorptions in the $2,062,500 median price quartile. In the bottom quartile with a median price of $1,224,000 absorption is matching inventory and we are at a blazing 14 days on market. I see some strength here and neighborhood like Fox Hills West, are particularly well suited.

🏡 Rockville, MD – Single-Family Homes

* Median List Price: $854,500

* Median Price of New Listings: $704,000

* Price per Square Foot: $329

* Average Days on Mark...