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Real Estate, Real Stories with Corey Feldman Podcast

Hosted by Corey Feldman · EN

Insightful and personal real estate tales from Corey Feldman, your expert guide in the DC Metro area property market.

thefeldmangroup.substack.com

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Market Monday
Jun 9, 2025Tap to summarize
Good morning! Our Weekend Pulse noted that June's competition feels more like fall than peak season, 43% multiple offers versus the typical 60%+ we'd expect. This week's community data from RLAH @properties confirms marketing times are extending and price reductions persist across most Montgomery County neighborhoods, even as select properties still generate bidding wars.Montgomery County Market Breakdown by Community and Property Type🏡 Bethesda, MD – Single-Family Homes* Median List Price: $2,025,000 (⬇️ from $2,124,500)* Median Price of New Listings: $1,549,000 (⬆️ from $1,374,499)* Price Per Square Foot: $455 (⬆️ from $451)* Average Days on Market: 75 (↔️ from 75)* Median Days on Market: 39 (⬇️ from 42)* Price Decreased: 40% (↔️ from 40%)* Price Increased: 1% (↔️ from 1%)* Relisted: 14% (⬇️ from 17%)* Inventory: 130 (⬇️ from 132)* Median Rent: $5,500 (↔️ from $5,500)* MAI: 43 (⬆️ from 42) (📊 Slight Seller's Advantage)Market Analysis: Sales continue to outpace the number of new listings, and the Market Action Index has been trending upward. Despite that, prices remain flat for now. If buyer activity holds, pricing pressure is likely to build over the next few weeks.🏢 Bethesda, MD – Condos/Townhomes* Median List Price: $436,499 (⬆️ from $417,000)* Median Price of New Listings: $449,000 (⬆️ from $244,999)* Price Per Square Foot: $356 (⬆️ from $335)* Average Days on Market: 63 (⬆️ from 61)* Median Days on Market: 39 (⬆️ from 35)* Price Decreased: 42% (⬆️ from 37%)* Price Increased: 0% (⬇️ from 2%)* Relisted: 8% (⬇️ from 9%)* Inventory: 48 (⬆️ from 46)* Median Rent: $3,029 (⬇️ from $3,039)* MAI: 41 (↔️ from 41) (📊 Slight Seller's Advantage)Market Analysis: More homes are available and buyer demand has eased. As a result, prices have started to move lower. This trend will likely continue unless the Market Action Index starts to rise again.🏡 Chevy Chase, MD – Single-Family Homes* Median List Price: $2,174,900 (⬆️ from $2,100,000)* Median Price of New Listings: $1,947,500 (↔️ from $1,942,500)* Price Per Square Foot: $536 (⬇️ from $559)* Average Days on Market: 84 (⬆️ from 78)* Median Days on Market: 35 (⬆️ from 28)* Price Decreased: 37% (⬆️ from 32%)* Price Increased: 0% (↔️ from 0%)* Relisted: 19% (↔️ from 19%)* Inventory: 52 (⬇️ from 53)* Median Rent: $5,148 (⬇️ from $6,150)* MAI: 42 (⬆️ from 40) (📊 Slight Seller's Advantage)Market Analysis: Inventory is tightening, but days on market are increasing and the Market Action Index is holding steady. The market shows early signs of softening, and both prices and inventory have remained mostly unchanged.🏢 Chevy Chase, MD – Condos/Townhomes* Median List Price: $495,000 (⬆️ from $482,500)* Median Price of New Listings: $550,000 (⬆️ from $475,000)* Price Per Square Foot: $410 (↔️ from $410)* Average Days on Market: 78 (⬆️ from 74)* Median Days on Market: 49 (↔️ from 49)* Price Decreased: 33% (⬆️ from 30%)* Price Increased: 0% (↔️ from 0%)* Relisted: 9% (⬇️ from 10%)* Inventory: 79 (⬇️ from 80)* Median Rent: $2,690 (↔️ from $2,690)* MAI: 31 (↔️ from 31) (📊 Slight Seller's Advantage)Market Analysis: Prices have generally settled at a plateau. One segment of the market is showing slight declines, but broader price movement will depend on a clear shift in the Market Action Index.🏡 Gaithersburg, MD – Single-Family Homes* Median List Price: $897,450 (⬇️ from $899,000)* Median Price of New Listings: $877,000 (⬆️ from $737,450)* Price Per Square Foot: $257 (⬇️ from $261)* Average Days on Market: 66 (⬆️ from 63)* Median Days on Market: 28 (↔️ from 28)* Price Decreased: 38% (↔️ from 38%)* Price Increased: 0% (↔️ from 0%)* Relisted: 10% (⬆️ from 9%)* Inventory: 92 (⬇️ from 93)* Median Rent: $3,475 (⬆️ from $3,350)* MAI: 45 (⬇️ from 46) (📈 Strong Seller's Market)Market Analysis: GPrices are holding steady at current levels. The Market Action Index hasn’t moved meaningfully in recent weeks, so any change in pricing will likely depend on a sustained shift in supply or demand.🏢 Gaithersburg, MD – Condos/Townhomes* Median List Price: $445,000 (⬇️ from $450,000)* Median Price of New Listings: $440,000 (⬆️ from $307,450)* Price Per Square Foot: $275 (↔️ from $274)* Average Days on Market: 48 (⬇️ from 49)* Median Days on Market: 28 (↔️ from 28)* Price Decreased: 38% (⬆️ from 37%)* Price Increased: 1% (↔️ from 1%)* Relisted: 8% (⬇️ from 10%)* Inventory: 72 (⬇️ from 73)* Median Rent: $2,126 (⬇️ from $2,225)* MAI: 57 (↔️ from 57) (📈 Strong Seller's Market)Market Analysis: This week’s median price is up, but the broader trend over the last several weeks has been downward. Buyers and sellers should watch for a more consistent rise in the Market Action Index before expecting a turnaround.🏡 Germantown, MD – Single-Family Homes* Median List Price: $849,950 (⬇️ from $850,000)* Median Price of New Listings: $799,450 (⬇️ from $857,500)* Price Per Square Foot: $262 (⬆️ from $254)* Average Days on Market: 56 (⬇️ from 57)* Median Days on Market: 35 (↔️ from 35)* Price Decreased: 36% (⬇️ from 44%)* Price Increased: 0% (↔️ from 0%)* Relisted: 7% (⬇️ from 8%)* Inventory: 28 (⬆️ from 25)* Median Rent: $2,650 (⬆️ from $2,600)* MAI: 56 (⬇️ from 59) (📈 Strong Seller's Market)Market Analysis: The market has continued to cool. Prices have been flat and remain that way this week. Unless demand strengthens, sellers may need to stay flexible on pricing.🏢 Germantown, MD – Condos/Townhomes* Median List Price: $339,000 (⬆️ from $315,000)* Median Price of New Listings: $420,000 (⬇️ from $449,900)* Price Per Square Foot: $258 (⬇️ from $261)* Average Days on Market: 43 (⬇️ from 45)* Median Days on Market: 28 (⬆️ from 21)* Price Decreased: 40% (⬆️ from 38%)* Price Increased: 1% (⬇️ from 3%)* Relisted: 8% (↔️ from 8%)* Inventory: 77 (⬆️ from 63)* Median Rent: $1,995 (⬇️ from $2,001)* MAI: 57 (⬇️ from 61) (📈 Strong Seller's Market)Market Analysis: Cooling conditions persist. Prices have reached a plateau and show no movement this week. The trend is holding steady for now.🏡 Kensington, MD – Single-Family Homes* Median List Price: $1,125,000 (⬇️ from $1,150,000)* Median Price of New Listings: $1,072,500 (⬆️ from $925,000)* Price Per Square Foot: $389 (⬆️ from $384)* Average Days on Market: 52 (⬇️ from 54)* Median Days on Market: 35 (⬆️ from 28)* Price Decreased: 35% (⬆️ from 27%)* Price Increased: 0% (↔️ from 0%)* Relisted: 8% (⬇️ from 12%)* Inventory: 37 (⬆️ from 33)* Median Rent: $4,200 (↔️ from $4,200)* MAI: 47 (⬇️ from 49) (📈 Strong Seller's Market)Market Analysis: The market has cooled slightly. Prices have leveled off and remain unchanged this week. The direction of the Market Action Index will determine whether this is a pause or a shift.🏡 Poolesville, MD – Single-Family Homes* Median List Price: $1,049,000 (↔️ from $1,049,000)* Median Price of New Listings: $1,025,000 (⬆️ from $949,900)* Price Per Square Foot: $255 (⬇️ from $289)* Average Days on Market: 104 (⬇️ from 121)* Median Days on Market: 35 (↔️ from 35)* Price Decreased: 27% (⬇️ from 33%)* Price...
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Market Monday
Jun 2, 2025Tap to summarize
Good morning, and I hope everyone had a wonderful weekend! As we kick off June, this week's data confirms the market segmentation story we've been tracking, with competition heating up significantly in certain neighborhoods and price tiers while others remain more balanced.Competition Surges in Select Pockets While Broader Market Shows Mixed SignalsThis week's brokerage data from RLAH @properties reveals a fascinating paradox: while our Weekend Market Pulse documented intense competition with multiple offers surging from 24% to 54% of new contracts, the underlying community data shows extended marketing times and cooling in many segments.This apparent contradiction illuminates the market's increasingly fragmented nature. The competition surge appears concentrated in very specific price points and property types, while broader market indicators suggest buyer selectivity is increasing across most communities. Multiple offers may be intensifying on the "right" properties while others face longer marketing periods.However, the headline numbers tell only part of the story. While 46% of properties sold above list price, marketing times extended across most communities, with Silver Spring seeing homes take 21 days instead of 14 days to sell, and Bethesda extending from 35 to 42 days. This suggests the competition surge is extremely selective, concentrated on properties that meet specific buyer criteria while others face a more challenging environment.Mixed Signals Across Montgomery County CommunitiesThe Montgomery County real estate market exhibits increasingly divergent conditions this week, with some communities experiencing notable cooling while others maintain stability. The data reveals a market where location and price tier are the primary determinants of seller and buyer experiences.While competition heated up significantly in certain segments, several premium markets show continued adjustment, with longer marketing times and increased price reduction activity indicating buyers are becoming more selective in higher price ranges.Montgomery County Market Breakdown by Community and Property Type🏡 Bethesda, MD – Single-Family HomesMedian List Price: $2,124,500 (⬆️ from $2,095,000)Median Price of New Listings: $1,374,499 (⬇️ from $1,810,000)Price Per Square Foot: $451 (⬆️ from $450)Average Days on Market: 75 (⬆️ from 69)Median Days on Market: 42 (⬆️ from 35)Price Decreased: 40% (⬇️ from 47%)Price Increased: 1% (⬇️ from 3%)Relisted: 17% (⬆️ from 16%)Inventory: 132 (⬇️ from 137)Median Rent: $5,500 (↔️ from $5,500)MAI: 42 (⬆️ from 41) (📊 Slight Seller's Advantage)Market Analysis: Bethesda shows the complexity of current market dynamics with MAI improving to 42 from 41 due to inventory declining, yet individual properties are taking longer to sell (42 days vs 35 days). This suggests fewer new listings are entering the market, but buyer demand has softened, creating the paradox of "improving" market conditions alongside longer marketing times. Price reduction activity moderating to 40% indicates some stabilization.🏢 Bethesda, MD – Condos/TownhomesMedian List Price: $417,000 (⬇️ from $428,000)Median Price of New Listings: $244,999 (⬇️ from $439,000)Price Per Square Foot: $335 (⬇️ from $346)Average Days on Market: 61 (⬆️ from 51)Median Days on Market: 35 (⬆️ from 28)Price Decreased: 37% (⬆️ from 35%)Price Increased: 2% (↔️ from 2%)Relisted: 9% (⬆️ from 6%)Inventory: 46 (⬇️ from 49)Median Rent: $3,039 (⬆️ from $3,030)MAI: 41 (⬇️ from 43) (📊 Slight Seller's Advantage)Market Analysis: The condo market experiences cooling with MAI declining from 43 to 41 and marketing times extending. The dramatic drop in new listing prices ($245K vs $439K) likely reflects different property types entering rather than seller adjustment. Despite inventory declining, buyer engagement appears more cautious.🏡 Chevy Chase, MD – Single-Family HomesMedian List Price: $2,100,000 (⬆️ from $1,999,000)Median Price of New Listings: $1,942,500 (⬆️ from $1,335,000)Price Per Square Foot: $559 (⬆️ from $542)Average Days on Market: 78 (⬆️ from 72)Median Days on Market: 28 (⬆️ from 21)Price Decreased: 32% (⬇️ from 39%)Price Increased: 0% (↔️ from 0%)Relisted: 19% (⬇️ from 20%)Inventory: 53 (⬇️ from 56)Median Rent: $6,150 (⬆️ from $5,498)MAI: 40 (⬆️ from 37) (📊 Slight Seller's Advantage)Market Analysis: Chevy Chase shows renewed confidence with significant increases in both median list price and new listing prices, suggesting sellers are testing higher price points. However, the quartile data reveals extreme market segmentation: ultra-luxury homes ($3.9M) require 168 days to sell while more affordable properties ($1.27M) move in just 7 days, a staggering 161-day performance gap that illustrates the two-tiered market reality.🏢 Chevy Chase, MD – Condos/TownhomesMedian List Price: $482,500 (↔️ from $482,500)Median Price of New Listings: $475,000 (⬆️ from $445,000)Price Per Square Foot: $410 (⬆️ from $409)Average Days on Market: 74 (⬆️ from 72)Median Days on Market: 49 (⬆️ from 42)Price Decreased: 30% (⬆️ from 29%)Price Increased: 0% (↔️ from 0%)Relisted: 10% (⬇️ from 11%)Inventory: 80 (⬆️ from 76)Median Rent: $2,690 (⬆️ from $2,650)MAI: 31 (⬇️ from 33) (📊 Slight Seller's Advantage)Market Analysis: Shows cooling with MAI declining from 33 to 31 and median selling time extending to 49 days from 42 days. However, higher new listing prices ($475K vs $445K) suggest continued seller confidence. Market remains stable despite modest headwinds.🏡 Gaithersburg, MD – Single-Family HomesMedian List Price: $899,000 (⬆️ from $879,000)Median Price of New Listings: $737,450 (⬇️ from $765,000)Price Per Square Foot: $261 (⬆️ from $260)Average Days on Market: 63 (⬆️ from 52)Median Days on Market: 28 (⬆️ from 21)Price Decreased: 38% (⬇️ from 39%)Price Increased: 0% (⬇️ from 3%)Relisted: 9% (⬇️ from 10%)Inventory: 93 (⬇️ from 111)Median Rent: $3,350 (⬆️ from $3,000)MAI: 46 (⬆️ from 45) (📈 Strong Seller's Market)Market Analysis: Gaithersburg demonstrates resilience with median pricing climbing and MAI improving to 46 from 45. Despite marketing times extending to 28 days from 21 days, price reduction activity moderates and inventory declines significantly. The market maintains strong seller-favorable conditions across price segments.🏢 Gaithersburg, MD – Condos/TownhomesMedian List Price: $450,000 (⬆️ from $429,950)Median Price of New Listings: $307,450 (⬇️ from $372,500)Price Per Square Foot: $274 (↔️ from $274)Average Days on Market: 49 (⬆️ from 39)Median Days on Market: 28 (⬆️ from 14)Price Decreased: 37% (⬆️ from 32%)Price Increased: 1% (↔️ from 1%)Relisted: 10% (⬆️ from 8%)Inventory: 73 (⬇️ from 84)Median Rent: $2,225 (⬆️ from $2,215)MAI: 57 (⬆️ from 54) (📈 Strong Seller's Market)Market Analysis: Shows strong improvement with MAI rising from 54 to 57 and median pricing climbing despite longer marketing times. The doubling of median selling time from 14 to 28 days warrants monitoring, though price reduction activity remains manageable at 37%. Inventory declines support continued strength.🏡 Germantown, MD – Single-Family HomesMedian List Price: $850,000 (⬆️ from $847,450)Median Price of New Listings: $857,500 (⬆️ from $625,000)Price Per Square Foot: $254 (⬇️ from $262)Average Days on Market: 57 (⬆️ from 53)Median Days on Market: 35 (⬆️ from 28)Price Decreased: 44% (⬇️ from 46%)Price Increased: 0% (↔️ from 0%)Relisted: 8% (↔️ from 8%)Inventory: 25 (⬆️ from 24)Median Rent: $2,600 (⬆️ from $2,595)MAI: 59 (⬇️ from 62) (📈 Strong Seller's Market)Market Analysis: Germantown maintains robust conditions despite MAI cooling from 62 to 59. The significant increase in new listing prices ($858K vs $625K) demonstrates seller confidence, while price reduction activity moderates to 44%. Marketing times extending to 35 days from 28 days suggests some buyer selectivity, but fundamentals remain strong.🏢 Germantown, MD – Condos/TownhomesMedian List Price: $315,000 (⬇️ from $326,700)Median Price of New Listings: $449,900 (⬆️ from $322,499)Price Per Square Foot: $261 (⬇️ from $263)Average Days on Market: 45 (⬆️ from 39)Median Days on Market: 21 (⬆️ from 14)Price Decreased: 38% (↔️ from 38%)Price Increased: 3% (⬇️ from 4%)Relisted: 8% (⬇️...
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Market Monday
May 19, 2025Tap to summarize
Good morning, and I hope everyone had a wonderful weekend! As we move deeper into May's traditionally busy selling season, this week's data reveals a market in notable transition.Buyer Leverage Emerges as Market Dynamics ShiftLast week's brokerage data from RLAH @properties confirmed what many of us are sensing in the field: buyers are gaining negotiating power. The most telling indicator? Below-list sales surged from 22% to 33% in just one week, while above-list sales declined from 22% to 19%. This shift suggests we're moving away from the seller dominated conditions that characterized much of the past few years.The change is palpable on the ground. Despite hosting two open houses in what should have been one of the year's busiest weeks, post-spring break but before school ends for the summer, attendance felt more like late June or mid-fall levels; slow but steady. This tempered showing traffic aligns with the broader data indicating buyers are becoming more selective and price-conscious.While 33% of properties still received multiple offers, buyers are clearly approaching purchases with greater caution. The uptick in full inspection requests (45% from 42%) further reinforces this trend toward more deliberate decision-making.Market Segmentation Intensifies as Cooling Spreads Across Montgomery CountyThe Montgomery County real estate market continues evolving toward pronounced segmentation, with this week's neighborhood data revealing broader cooling conditions affecting most areas. While pockets of strength persist, particularly in Germantown's condo market and Silver Spring's single-family segment, the overall trend shows buyers becoming increasingly selective amid expanding inventory and extended marketing times.The divergence between exceptional properties and average listings has become more pronounced. Ultra-luxury homes in Chevy Chase now require over 8 months to sell while appropriately priced entry-level properties across the county move in under three weeks, creating vastly different seller experiences within the same community.Montgomery County Market Breakdown by Community and Property Type🏡 Bethesda, MD – Single-Family Homes* Median List Price: $2,149,000 (⬇️ from $2,185,000)* Median Price of New Listings: $1,280,000 (⬇️ from $1,725,000)* Price Per Square Foot: $452 (⬆️ from $448)* Average Days on Market: 80 (⬆️ from 74)* Median Days on Market: 49 (⬆️ from 42)* Price Decreased: 49% (⬆️ from 46%)* Price Increased: 2% (↔️ from 2%)* Relisted: 16% (⬆️ from 15%)* Inventory: 133 (⬆️ from 131)* Median Rent: $5,100 (⬆️ from $4,990)* MAI: 40 (↔️ from 40) (📊 Slight Seller's Advantage)Market Analysis: Bethesda's single-family market continues cooling with nearly half of sellers (49%) reducing prices, the highest rate in the county. Marketing times extend with median DOM rising from 42 to 49 days, indicating buyer resistance. The drop in new listing prices ($1.28M vs $1.72M) may reflect either seller adjustment or a shift toward lower-priced inventory. The luxury segment faces challenges with ultra-premium homes ($3.5M) requiring 77 days to sell while entry-level properties ($1.27M) move in 14 days, showing a notable performance gap between market tiers.🏢 Bethesda, MD – Condos/Townhomes* Median List Price: $434,949 (⬆️ from $420,000)* Median Price of New Listings: $349,900 (⬇️ from $487,450)* Price Per Square Foot: $411 (⬆️ from $410)* Average Days on Market: 61 (⬆️ from 58)* Median Days on Market: 32 (⬇️ from 35)* Price Decreased: 45% (⬆️ from 44%)* Price Increased: 0% (↔️ from 0%)* Relisted: 7% (↔️ from 7%)* Inventory: 42 (⬇️ from 43)* Median Rent: $3,020 (⬇️ from $3,024)* MAI: 46 (⬇️ from 47) (📈 Strong Seller's Market)Market Analysis: The condo market shows mixed signals with rising median list prices yet declining new listing prices, suggesting shifts in inventory composition. While maintaining seller-favorable conditions, the market softens with MAI declining from 47 to 46 and 45% of sellers reducing prices. Luxury condos ($1.57M) take 59 days to sell while mid-tier units ($355K) move in 21 days, reflecting buyer preference for value-oriented properties.🏡 Chevy Chase, MD – Single-Family Homes* Median List Price: $2,200,000 (⬇️ from $2,285,000)* Median Price of New Listings: $1,932,500 (⬆️ from $1,799,000)* Price Per Square Foot: $546 (⬇️ from $557)* Average Days on Market: 101 (⬆️ from 88)* Median Days on Market: 42 (⬆️ from 35)* Price Decreased: 42% (↔️ from 42%)* Price Increased: 0% (↔️ from 0%)* Relisted: 24% (⬆️ from 22%)* Inventory: 45 (⬇️ from 50)* Median Rent: $5,248 (⬇️ from $5,875)* MAI: 37 (⬆️ from 36) (📊 Slight Seller's Advantage)Market Analysis: Chevy Chase faces extended marketing times with average DOM reaching 101 days and median DOM rising to 42 days. The luxury market encounters challenges with ultra-premium homes ($3.59M) requiring 245 days to sell, over 8 months. Mid-tier properties ($2M) sell in 7 days while entry-level homes ($1.39M) take 49 days, indicating selective buyer activity in this high-end market.🏢 Chevy Chase, MD – Condos/Townhomes* Median List Price: $482,500 (⬆️ from $479,000)* Median Price of New Listings: $735,000 (⬇️ from $755,000)* Price Per Square Foot: $420 (↔️ from $420)* Average Days on Market: 73 (⬆️ from 63)* Median Days on Market: 42 (⬆️ from 35)* Price Decreased: 31% (⬆️ from 29%)* Price Increased: 0% (↔️ from 0%)* Relisted: 10% (↔️ from 10%)* Inventory: 70 (⬇️ from 72)* Median Rent: $2,643 (⬆️ from $2,603)* MAI: 33 (↔️ from 33) (📊 Slight Seller's Advantage)Market Analysis: The condo market remains stable with MAI holding at 33 despite longer marketing times. Consistent performance across price segments emerges with most quartiles showing 49-day DOM, suggesting uniform buyer behavior regardless of price point. This standardization may reflect market efficiency or consistent buyer expectations across segments.🏡 Gaithersburg, MD – Single-Family Homes* Median List Price: $924,950 (↔️ from $924,925)* Median Price of New Listings: $850,000 (⬆️ from $655,000)* Price Per Square Foot: $262 (⬇️ from $272)* Average Days on Market: 56 (⬇️ from 60)* Median Days on Market: 28 (⬆️ from 21)* Price Decreased: 40% (⬆️ from 36%)* Price Increased: 3% (⬆️ from 2%)* Relisted: 11% (⬆️ from 8%)* Inventory: 93 (⬆️ from 92)* Median Rent: $2,950 (⬆️ from $2,800)* MAI: 45 (⬆️ from 44) (📊 Slight Seller's Advantage)Market Analysis: Gaithersburg shows gradual improvement with MAI rising from 44 to 45. The significant increase in new listing prices ($850K vs $655K) indicates renewed seller confidence, though price reductions increase to 40%. Performance remains balanced across segments with luxury homes ($1.69M) selling in 42 days while entry-level properties ($627K) require 24 days, a moderate gap compared to other neighborhoods.🏢 Gaithersburg, MD – Condos/Townhomes* Median List Price: $450,000 (⬆️ from $445,000)* Median Price of New Listings: $478,900 (⬆️ from $404,000)* Price Per Square Foot: $279 (⬇️ from $284)* Average Days on Market: 42 (⬇️ from 43)* Median Days on Market: 21 (↔️ from 21)* Price Decreased: 36% (↔️ from 36%)* Price Increased: 3% (⬇️ from 4%)* Relisted: 8% (⬆️ from 6%)* Inventory: 75 (⬆️ from 70)* Median Rent: $2,250 (⬇️ from $2,215)* MAI: 54 (⬇️ from 55) (📈 Strong Seller's Market)Market Analysis: Despite MAI cooling from 55 to 54, this market maintains solid fundamentals. New listings testing higher prices ($478K vs $404K) reflect seller optimism. The luxury segment ($731K) performs well with 17-day DOM while mid-tier units ($390K) sell in 7 days, demonstrating steady demand across price points.🏡 Germantown, MD – Single-Family Homes* Median List Price: $949,900 (↔️ from $949,900)* Median Price of New Listings: $845,000 (⬇️ from $1,292,000)* Price Per Square Foot: $251 (⬇️ from $252)* Average Days on Market: 55 (⬆️ from 45)* Median Days on Market: 28 (⬆️ from 21)* Price Decreased: 43% (⬆️ from 32%)* Price Increased: 0% (↔️ from 0%)* Relisted: 13% (⬆️ from 8%)* Inventory: 23 (⬇️ from 25)* Median Rent: $2,599 (⬆️ from $2,425)* MAI: 61 (⬇️ from 62) (📈 Strong Seller's Market)Market Analysis: Germantown maintains strong conditions with MAI declining slightly from 62 to 61 despite moderating marketing times. The notable drop in new listing prices ($845K vs $1.29M) likely reflects different property types entering the market rather than seller adjustment. Price reduction activity increases to 43%, yet market strength continues with ultra-luxury properties ($2.32M) selling in 56 days while entry-level homes ($627K) move in 38 days.🏢 Germantown, MD – Condos/Townhomes* Median List Price: $355,000 (⬆️ from $330,000)* Median Price of New Listings: $411,500 (⬇️ from $454,975)* Price Per Square Foot: $267 (⬇️ from $268)* Average Days on Market: 34 (⬆️ from 32)* Median Days on Market: 14 (↔️ from 14)* Price Decreased: 30% (⬆️ from 25%)* Price Increased: 3% (↔️ from 3%)* Relisted: 8% (⬆️ from 7%)* Inventory: 61 (⬇️ from 67)* Median Rent: $1,950 (↔️ from $1,949)* MAI: 72 (⬆️ from 71) (📈 Stron...
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Market Monday
May 12, 2025Tap to summarize
The Montgomery County real estate market continues to fragment into micro-markets, with property-specific factors increasingly determining outcomes. This week's data confirms the end of the "rising tide lifts all boats" market, replaced by a highly selective environment where exceptional properties command intense competition while average listings face cooling conditions.While only 24% of new contracts had multiple offers (down from 31% last week), those that did attract interest saw notably stronger competition, with the average number of offers increasing to 1.4 (up from 0.8). This pattern of concentrated buyer interest creates dramatically different seller experiences depending on property positioning, preparation, and pricing strategy.Montgomery County Market Breakdown by Community and Property Type🏡 Bethesda, MD – Single-Family Homes* Median List Price: $2,185,000 (⬆️ from $2,100,000)* Median Price of New Listings: $1,725,000 (⬆️ from $1,648,000)* Price Per Square Foot: $448 (⬇️ from $462)* Average Days on Market: 74 (⬆️ from 72)* Median Days on Market: 42 (⬆️ from 35)* Price Decreased: 46% (⬆️ from 38%)* Price Increased: 2% (↔️ from 2%)* Relisted: 15% (⬆️ from 12%)* Inventory: 131 (⬆️ from 129)* Median Rent: $4,990 (⬇️ from $5,100)* MAI: 40 (⬇️ from 41) (📊 Slight Seller's Advantage)Market Analysis: The MAI continues its downward trajectory as nearly half of all sellers (46%) have reduced prices, indicating persistent buyer resistance. Despite higher median list price, marketing times have extended significantly and relisting activity increased, suggesting inflated initial pricing. The market segments reveal divergent performance: entry-level homes ($1.29M) sell in just 7 days while premium properties ($3.57M) linger for 73 days, perfectly illustrating the market's increasing selectivity.🏢 Bethesda, MD – Condos/Townhomes* Median List Price: $420,000 (⬆️ from $399,900)* Median Price of New Listings: $487,450 (⬆️ from $349,500)* Price Per Square Foot: $410 (⬇️ from $422)* Average Days on Market: 58 (⬆️ from 53)* Median Days on Market: 35 (↔️ from 35)* Price Decreased: 44% (⬆️ from 38%)* Price Increased: 0% (⬇️ from 2%)* Relisted: 7% (⬇️ from 11%)* Inventory: 43 (⬇️ from 45)* Median Rent: $3,024 (⬇️ from $3,033)* MAI: 47 (⬆️ from 46) (📈 Strong Seller's Market)Market Analysis: The condo market shows resilience with MAI strengthening slightly to 47 despite 44% of sellers reducing prices. New listings entering at much higher prices ($487k vs $349k) suggest seller confidence, but the data reveals a market in transition. Lower quartiles continue to perform well while luxury condos ($1.67M) face extended marketing periods (56 days vs market average of 35), further evidence of the sharpening divide between market segments.🏡 Chevy Chase, MD – Single-Family Homes* Median List Price: $2,285,000 (⬇️ from $2,395,000)* Median Price of New Listings: $1,799,000 (⬇️ from $1,819,000)* Price Per Square Foot: $557 (⬇️ from $559)* Average Days on Market: 88 (⬇️ from 102)* Median Days on Market: 35 (⬇️ from 42)* Price Decreased: 42% (⬇️ from 51%)* Price Increased: 0% (↔️ from 0%)* Relisted: 22% (⬇️ from 23%)* Inventory: 50 (⬆️ from 39)* Median Rent: $5,875 (⬆️ from $5,625)* MAI: 36 (⬇️ from 38) (📊 Slight Seller's Advantage)Market Analysis: Despite improved marketing times, Chevy Chase continues cooling with MAI slipping to 36 amid expanding inventory. Seller sentiment shows signs of realism with fewer price reductions (42% vs 51%) but the high relisting rate (22%) indicates persistent pricing challenges. Entry-level homes ($1.3M) sell in 28 days while luxury properties ($4.12M) languish for 217 days, one of the market's most dramatic performance gaps.🏢 Chevy Chase, MD – Condos/Townhomes* Median List Price: $479,000 (⬆️ from $432,000)* Median Price of New Listings: $755,000 (⬆️ from $576,500)* Price Per Square Foot: $420 (⬆️ from $415)* Average Days on Market: 63 (⬇️ from 70)* Median Days on Market: 35 (↔️ from 35)* Price Decreased: 29% (⬇️ from 34%)* Price Increased: 0% (↔️ from 0%)* Relisted: 10% (⬆️ from 4%)* Inventory: 72 (⬆️ from 67)* Median Rent: $2,603 (⬇️ from $2,647)* MAI: 33 (⬇️ from 34) (📊 Slight Seller's Advantage)Market Analysis: The MAI slipped to 33 as inventory expanded to 72 units. Despite this softening, new listings are testing much higher price points ($755k vs $576k), suggesting divergent seller expectations. The market shows balanced performance across price tiers, with marketing times clustered around the 35-day mark regardless of price point, unusual stability compared to other neighborhoods.🏡 Gaithersburg, MD – Single-Family Homes* Median List Price: $924,925 (⬇️ from $974,900)* Median Price of New Listings: $655,000 (⬇️ from $939,500)* Price Per Square Foot: $272 (⬇️ from $274)* Average Days on Market: 60 (⬇️ from 66)* Median Days on Market: 21 (↔️ from 21)* Price Decreased: 36% (⬆️ from 30%)* Price Increased: 2% (⬇️ from 3%)* Relisted: 8% (⬆️ from 4%)* Inventory: 92 (⬆️ from 79)* Median Rent: $2,800 (⬇️ from $2,850)* MAI: 44 (⬇️ from 46) (📊 Slight Seller's Advantage)Market Analysis: Gaithersburg shows subtle shifts with MAI easing to 44 amid inventory growth to 92 units. The significant change in new listing prices ($655k vs $939k) likely reflects a different mix of properties entering the market rather than value depreciation. The market continues to show strong fundamentals with steady median DOM at 21 days across segments. While price reductions increased to 36% from 30%, the efficiency gap between entry-level homes ($619k at 21 DOM) and luxury properties ($1.69M at 35 DOM) remains remarkably narrow compared to other neighborhoods, demonstrating Gaithersburg's consistent appeal across price points.🏢 Gaithersburg, MD – Condos/Townhomes* Median List Price: $445,000 (⬆️ from $418,000)* Median Price of New Listings: $404,000 (⬇️ from $565,000)* Price Per Square Foot: $284 (⬇️ from $286)* Average Days on Market: 43 (⬇️ from 44)* Median Days on Market: 21 (↔️ from 21)* Price Decreased: 36% (⬆️ from 24%)* Price Increased: 4% (⬇️ from 6%)* Relisted: 6% (↔️ from 6%)* Inventory: 70 (⬆️ from 67)* Median Rent: $2,215 (⬇️ from $2,234)* MAI: 55 (⬇️ from 58) (📈 Strong Seller's Market)Market Analysis: Despite maintaining strong seller's conditions with MAI at 55, this market shows cooling from last week's 58. New listings are entering significantly lower ($404k vs $565k), and price cuts have surged from 24% to 36%, indicating a shift in market momentum. All segments continue to perform well with consistently quick absorption across price points.🏡 Germantown, MD – Single-Family Homes* Median List Price: $949,900 (⬆️ from $874,450)* Median Price of New Listings: $1,292,000 (⬆️ from $924,450)* Price Per Square Foot: $252 (⬆️ from $251)* Average Days on Market: 45 (⬆️ from 43)* Median Days on Market: 21 (⬆️ from 18)* Price Decreased: 32% (⬇️ from 38%)* Price Increased: 0% (↔️ from 0%)* Relisted: 8% (↔️ from 8%)* Inventory: 25 (⬆️ from 24)* Median Rent: $2,425 (⬇️ from $2,550)* MAI: 62 (⬆️ from 60) (📈 Strong Seller's Market)Market Analysis: Germantown strengthens against the broader cooling trend with MAI improving to 62. New listings aiming significantly higher ($1.29M vs $924k) reflect seller confidence in this micromarket. Performance varies dramatically by price tier: entry-level homes ($604k) sell in just 14 days while luxury properties ($2.15M) require 35 days, still remarkably efficient for premium products.🏢 Germantown, MD – Condos/Townhomes* Median List Price: $330,000 (⬆️ from $309,900)* Median Price of New Listings: $454,975 (⬆️ from $290,000)* Price Per Square Foot: $268 (↔️ from $268)* Average Days on Market: 32 (⬇️ from 39)* Median Days on Market: 14 (⬇️ from 21)* Price Decreased: 25% (⬇️ from 29%)* Price Increased: 3% (⬆️ from 2%)* Relisted: 7% (⬆️ from 6%)* Inventory: 67 (⬆️ from 49)* Median Rent: $1,949 (↔️ from $1,949)* MAI: 71 (⬇️ from 72) (📈 Strong Seller's Market)Market Analysis: Remains the county's hottest market segment despite slight MAI cooling to 71. Marketing times continue improving with median DOM dropping to just 14 days. Remarkably, the luxury segment ($549k) is selling immediately (0 DOM), unprecedented performance that suggests intense demand for premium townhomes in this area. 🏡 Kensington, MD – Single-Family Homes* Median List Price: $1,150,000 (⬆️ from $975,000)* Median Price of New Listings: $1,299,000 (⬆️ from $899,000)* Price Per Square Foot: $375 (⬆️ from $366)* Average Days on Market: 45 (↔️ from 45)* Median Days on Market: 14 (↔️ from 14)* Price Decreased: 34% (⬆️ from 24%)* Price Increased: 0% (↔️ from 0%)* Relisted: 10% (↔️ from 10%)* Inventory: 29 (↔️ from 29)* Median Rent: $4,075 (⬇️ from $4,200)* MAI: 56 (⬇️ from 57) (📈 Strong Seller's Market)Market Analysis: Kensington maintains its momentum despite slight MAI cooling to 56. Market velocity remains exceptional with median DOM holding at ...
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Market Monday
May 5, 2025Tap to summarize
Before we dive into the market analysis, Happy Cinco de Mayo to everyone celebrating! Also, a special happy 86th birthday to my dad; wishing you a wonderful day!Unexpected Segmentation Emerges as Regional Cooling Proves UnevenWeekend Market Pulse predictions of accelerated cooling have partially materialized across Montgomery County, but with surprising segmentation that challenges conventional wisdom. While county-wide metrics support the predicted slowdown (multiple offers down 43% to 31%), neighborhood-level data reveals a dramatically bifurcated landscape.The expected market shift following slower-than-anticipated weekend showings has arrived, yet communities like Germantown defy the trend with MAI scores hitting 72, the county's hottest reading. Even as regional marketing times extended, pockets of strength persist: Kensington's median DOM unexpectedly halved from 28 to 14 days, while Gaithersburg maintains vigorous seller conditions (MAI 58).This split creates a complex picture for the coming weeks. Bethesda's single-family market shows clear cooling (MAI 41), yet neighboring areas sustain momentum. The disconnect between regional predictions and neighborhood realities suggests local factors now outweigh broader economic concerns in determining market performance.Neighborhood Breakdown - Single-Family & Condo/Townhome MarketsMontgomery County Real Estate - Neighborhood Breakdown🏡 Bethesda, MD – Single-Family HomesMedian List Price: $2,100,000 (⬇️ from $2,297,000)Median Price of New Listings: $1,648,000 (⬇️ from $1,774,900)Price Per Square Foot: $462 (↔️ from $462)Average Days on Market: 72 (⬇️ from 76)Median Days on Market: 35 (↔️ from 35)Price Decreased: 38% (⬆️ from 33%)Price Increased: 2% (↔️ from 2%)Relisted: 12% (⬆️ from 7%)Inventory: 129 (⬆️ from 112)Median Rent: $5,100 (⬆️ from $4,975)MAI: 41 (⬇️ from 42) (📊 Slight Seller's Advantage)Market Analysis: The MAI slipped to 41 as inventory expanded to 129 units, with relisting activity jumping to 12%. Despite price weakness across the board, marketing times improved to 72 days. The price floor appears to be testing at these levels, with 38% of sellers cutting prices. Given conditions are in seller territory, expect prices to level off soon, though the continued downward notch suggests sellers still finding resistance.🏢 Bethesda, MD – Condos/TownhomesMedian List Price: $399,900 (⬇️ from $419,900)Median Price of New Listings: $349,500 (↔️ from $349,900)Price Per Square Foot: $422 (↔️ from $422)Average Days on Market: 53 (⬇️ from 54)Median Days on Market: 35 (⬇️ from 42)Price Decreased: 38% (↔️ from 38%)Price Increased: 2% (⬆️ from 0%)Relisted: 11% (⬆️ from 9%)Inventory: 45 (↔️ from 45)Median Rent: $3,033 (⬆️ from $3,000)MAI: 46 (↔️ from 46) (📈 Strong Seller's Market)Market Analysis: Despite maintaining a strong MAI, the market continues cooling with median DOM improving but still extended. New listings holding steady at $350k suggests sellers aligning with current demand levels. With prices moving lower across multiple segments, expect this trend to continue, especially if the MAI falls into buyer territory.🏡 Chevy Chase, MD – Single-Family HomesMedian List Price: $2,395,000 (⬇️ from $2,550,000)Median Price of New Listings: $1,819,000 (⬇️ from $2,550,000)Price Per Square Foot: $559 (⬆️ from $547)Average Days on Market: 102 (⬇️ from 121)Median Days on Market: 42 (⬇️ from 49)Price Decreased: 51% (⬇️ from 58%)Price Increased: 0% (↔️ from 0%)Relisted: 23% (⬆️ from 18%)Inventory: 39 (⬆️ from 33)Median Rent: $5,625 (↔️ from $5,625)MAI: 38 (⬆️ from 37) (📊 Slight Seller's Advantage)Market Analysis: Despite persistent price weakness, MAI strengthened to 38 as inventory expanded to 39 units. Notably, fewer sellers are cutting prices (51% vs 58%), and new listings are pricing more strategically ($1.82M vs $2.55M). Marketing periods improved across the board, suggesting better price-to-market alignment. With all quartiles showing price declines, look to the MAI as a leading indicator of market bottom.🏢 Chevy Chase, MD – Condos/TownhomesMedian List Price: $432,000 (⬇️ from $433,000)Median Price of New Listings: $576,500 (⬇️ from $645,000)Price Per Square Foot: $415 (⬇️ from $423)Average Days on Market: 70 (⬇️ from 72)Median Days on Market: 35 (↔️ from 35)Price Decreased: 34% (⬇️ from 37%)Price Increased: 0% (↔️ from 0%)Relisted: 4% (⬇️ from 5%)Inventory: 67 (⬆️ from 62)Median Rent: $2,647 (⬆️ from $2,531)MAI: 34 (⬆️ from 33) (📊 Slight Seller's Advantage)Market Analysis: The MAI improved to 34 as new listings moderate in price ($576k vs $645k). While prices remain generally flat, marketing periods are improving. Fewer sellers cutting prices (34% vs 37%) suggests potential market stabilization. Given the MAI is in seller territory, prices will likely level off very soon if the trend continues.🏡 Gaithersburg, MD – Single-Family HomesMedian List Price: $974,900 (⬆️ from $925,000)Median Price of New Listings: $939,500 (⬆️ from $937,500)Price Per Square Foot: $274 (⬇️ from $284)Average Days on Market: 66 (⬇️ from 68)Median Days on Market: 21 (↔️ from 21)Price Decreased: 30% (⬆️ from 27%)Price Increased: 3% (↔️ from 3%)Relisted: 4% (⬇️ from 7%)Inventory: 79 (⬆️ from 73)Median Rent: $2,850 (⬇️ from $3,100)MAI: 46 (↔️ from 46) (📈 Strong Seller's Market)Market Analysis: The market continues plateauing with the MAI holding at 46. Despite inventory growing to 79 units, core metrics remain resilient. Prices have settled across all quartiles, suggesting market equilibrium at current levels. Watch the MAI for persistent shifts - if it climbs, prices will likely follow; if it drops into buyer territory, expect downward price pressure.🏢 Gaithersburg, MD – Condos/TownhomesMedian List Price: $418,000 (⬆️ from $415,000)Median Price of New Listings: $565,000 (⬆️ from $420,000)Price Per Square Foot: $286 (⬆️ from $273)Average Days on Market: 44 (↔️ from 44)Median Days on Market: 21 (↔️ from 21)Price Decreased: 24% (⬆️ from 23%)Price Increased: 6% (↔️ from 6%)Relisted: 6% (⬇️ from 7%)Inventory: 67 (⬇️ from 69)Median Rent: $2,234 (⬆️ from $2,163)MAI: 58 (↔️ from 58) (📈 Strong Seller's Market)Market Analysis: Remarkably strong market with prices generally stabilizing at a plateau. New listings entering significantly higher ($565k vs $420k) signals seller confidence. Despite recent price flattening, the consistent MAI and rapid absorption continue to support sellers. Watch for persistent MAI shifts before expecting movement from current levels.🏡 Germantown, MD – Single-Family HomesMedian List Price: $874,450 (⬆️ from $819,990)Median Price of New Listings: $924,450 (⬆️ from $762,499)Price Per Square Foot: $251 (⬇️ from $252)Average Days on Market: 43 (⬇️ from 50)Median Days on Market: 18 (⬇️ from 21)Price Decreased: 38% (⬇️ from 44%)Price Increased: 0% (⬇️ from 8%)Relisted: 8% (⬆️ from 4%)Inventory: 24 (⬇️ from 25)Median Rent: $2,550 (↔️ from $2,550)MAI: 60 (⬇️ from 61) (📈 Strong Seller's Market)Market Analysis: Despite the MAI easing slightly, this market remains exceptionally strong. The entry level ($622k) continues outperforming at just 10 DOM. New listings entering higher suggests sellers testing price ceilings, though fewer price increases (0% vs 8%) indicates moderation. The bottom quartile still shows upward momentum while premium segments face weakness.🏢 Germantown, MD – Condos/TownhomesMedian List Price: $309,900 (⬇️ from $325,000)Median Price of New Listings: $290,000 (⬇️ from $335,100)Price Per Square Foot: $268 (⬆️ from $266)Average Days on Market: 39 (⬆️ from 37)Median Days on Market: 21 (⬆️ from 14)Price Decreased: 29% (⬇️ from 33%)Price Increased: 2% (↔️ from 2%)Relisted: 6% (⬆️ from 4%)Inventory: 49 (⬇️ from 54)Median Rent: $1,949 (⬇️ from $2,008)MAI: 72 (⬆️ from 71) (📈 Strong Seller's Market)Market Analysis: Maintains status as county's hottest condo market with MAI improving to 72. Home sales continue exceeding new inventory, though prices haven't stopped falling. Given the market's deep seller territory, expect prices to level off very soon. Median DOM doubled but remains exceptionally competitive at 21 days. Watch for price st...
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Market Monday
Apr 28, 2025Tap to summarize
The real estate market shows clear signs of post-holiday recovery while revealing increasing segmentation and volatility. Following the expected Easter and spring break slowdown, this week's data indicates an uneven rebound across different neighborhoods and price points. Multiple offers are trending upward again but remain inconsistent, with some properties generating significant competition while others face extended marketing periods. Economic uncertainty, particularly concerns about potential government workforce adjustments, continues to create market volatility that affects buyer confidence differently across segments.My open houses this weekend experienced solid but slightly below-expected traffic, reflecting the selective approach buyers are taking in this environment. Price sensitivity appears to be growing in certain segments, even as entry-level inventory continues to move quickly. This market's defining characteristic is becoming its unpredictability, with performance varying dramatically between neighborhoods, price points, and property types, creating both challenges and opportunities as we move into the traditionally busy late spring market. Check out the neighborhood section below to see exactly how this segmentation is playing out across different areas and price points in Montgomery County.🏡 Bethesda, MD – Single‑Family HomesMedian List Price: $2,297,000 ⬆️Median Price of New Listings: $1,774,900 ⬆️Price Per Square Foot: $462 ⬇️Average Days on Market: 76 ⬆️Median Days on Market: 35 ↔️Price Decreased: 33% ⬆️Price Increased: 2% ↔️Relisted: 7% ↔️Inventory: 112 ⬆️Median Rent: $4,975 ⬆️MAI: 42 ⬆️ (📊 Slight Seller's Advantage)Market Analysis: After weeks of cooling, the MAI has rebounded to 42, signaling market stabilization. Despite the strengthening MAI, prices haven't yet resumed upward momentum—expect them to level off before potentially climbing if this trend continues. The entry‑level segment ($1.4M range) continues clearing rapidly at just 17 DOM, while premium properties still face marketing headwinds.🏢 Bethesda, MD – Condos/TownhomesMedian List Price: $419,900 ⬇️Median Price of New Listings: $349,900 ⬇️Price Per Square Foot: $422 ⬇️Average Days on Market: 54 ⬆️Median Days on Market: 42 ⬆️Price Decreased: 38% ⬇️Price Increased: 0%Relisted: 9% ⬇️Inventory: 45 ⬆️Median Rent: $3,000 ⬆️MAI: 46 ⬇️ (📈 Strong Seller's Market)Market Analysis: Despite slipping from 47 to 46, the MAI still indicates robust seller advantage. Inventory jumped to 45 units, inflating marketing times across all tiers. The luxury segment ($1.8M) is absorbing slowly (35 DOM), while mid‑tier units ($640K) now need 49 days to move—nearly double last month's pace. New listings at $350k suggest a shift toward more affordable inventory.🏡 Chevy Chase, MD – Single‑Family HomesMedian List Price: $2,550,000 ⬆️Median Price of New Listings: $2,550,000 ⬆️Price Per Square Foot: $547 ⬆️Average Days on Market: 121 ⬆️Median Days on Market: 49 ⬆️Price Decreased: 58 % ⬆️Price Increased: 0 % ⬇️Relisted: 18 % ⬆️Inventory: 33 ↔️Median Rent: $5,625 ⬇️MAI: 37 ⬆️ (📊 Slight Seller's Advantage)Market Analysis: Despite the MAI climbing to 37, nearly 60% of sellers have reduced prices, evidence of a profound bid‑ask gap. While inventory held steady, relisting activity jumped to 18 %, suggesting more sellers are resetting expectations after failed listing attempts. The $4.1M+ tier remains severely challenged with 266 DOM and no absorption.🏢 Chevy Chase, MD – Condos/TownhomesMedian List Price: $433,000 ⬇️Median Price of New Listings: $645,000 ⬆️Price Per Square Foot: $423 ⬇️Average Days on Market: 72 ⬆️Median Days on Market: 35 ↔️Price Decreased: 37 % ⬇️Price Increased: 0 %Relisted: 5 % ↔️Inventory: 62 ↔️Median Rent: $2,531 ⬇️MAI: 33 ↔️ (📊 Slight Seller's Advantage)Market Analysis: Despite a strengthening MAI trend, sellers face a split market. New listings at $645k signal confidence in the upper tier, yet entry‑level units ($242k) now comprise most sales activity. The luxury segment ($1.4M) shows surprising strength at just 28 DOM. Further price adjustments likely as the market digests persistent elevated inventory.🏡 Gaithersburg, MD – Single‑Family HomesMedian List Price: $925,000 ⬇️Median Price of New Listings: $937,500 ⬇️Price Per Square Foot: $284 ⬇️Average Days on Market: 68 ⬆️Median Days on Market: 21 ⬇️Price Decreased: 27 % ⬇️Price Increased: 3 % ⬆️Relisted: 7 % ⬆️Inventory: 73 ⬆️Median Rent: $3,100 ↔️MAI: 46 ⬇️ (📈 Strong Seller's Market)Market Analysis: The MAI dipped to 46 as inventory expanded to 73 homes, but core market metrics remain resilient. Fewer sellers cutting prices (27% vs 39% last week) suggests either improved pricing strategy or strengthening absorption. The mid‑tier segment ($1.1M) is showing particular strength with just 14 DOM, nearly half last month's marketing time.🏢 Gaithersburg, MD – Condos/TownhomesMedian List Price: $415,000 ⬇️Median Price of New Listings: $420,000 ⬇️Price Per Square Foot: $273 ⬇️Average Days on Market: 44 ↔️Median Days on Market: 21 ↔️Price Decreased: 23 % ⬇️Price Increased: 6 % ⬆️Relisted: 7 % ⬆️Inventory: 69 ⬆️Median Rent: $2,163 ⬇️MAI: 58 ⬇️ (📈 Strong Seller's Market)Market Analysis: Despite the MAI easing to 58 from 59 and inventory jumping to 69 units, this market remains exceptionally strong. Price increases (6 % of listings) now outpace the broader region, and premium tier units are moving rapidly (14 DOM). The affordability sweet spot ($350k) is particularly active with tight 7‑day marketing times. Supply‑demand dynamics still firmly favor sellers.🏡 Germantown, MD – Single‑Family HomesMedian List Price: $819,990 ⬇️Median Price of New Listings: $762,499 ⬆️Price Per Square Foot: $252 ⬆️Average Days on Market: 50 ⬇️Median Days on Market: 21 ↔️Price Decreased: 44 % ⬆️Price Increased: 8 % ⬆️Relisted: 4 % ⬆️Inventory: 25 ⬆️Median Rent: $2,550 ⬆️MAI: 61 ⬆️ (📈 Strong Seller's Market)Market Analysis: The MAI surged from 56 to 61—the second‑highest reading in our coverage area. This market paradox continues: 44 % of listings have cut prices, yet 8 % have increased prices—evidence of extreme segmentation. The entry level ($575k) continues to outperform with 7 DOM, while the top tier ($2.15M) requires six times longer to move. New listings trending lower signals tightening entry‑level supply.🏢 Germantown, MD – Condos/TownhomesMedian List Price: $325,000 ⬇️Median Price of New Listings: $335,100 ⬆️Price Per Square Foot: $266 ⬆️Average Days on Market: 37 ⬆️Median Days on Market: 14 ⬆️Price Decreased: 33 % ⬆️Price Increased: 2 % ↔️Relisted: 4 % ⬆️Inventory: 54 ⬇️Median Rent: $2,008 ⬇️MAI: 71 ↔️ (📈 Strong Seller's Market)Market Analysis: With an MAI of 71, Germantown maintains its position as the county's hottest condo market. Despite inventory growing to 54 units, absorption remains exceptional, particularly in the upper tier ($494k) with 14‑day marketing periods. This market continues to defy nearby cooling trends with price‑per‑square‑foot rising even as median prices ease slightly. Limited entry‑level supply is driving fierce competition.🏡 Kensington, MD – Single‑Family HomesMedian List Price: $899,900 ⬆️Median Price of New Listings: $1,392,450 ⬆️Price Per Square Foot: $357 ⬆️Average Days on Market: 48 ⬇️Median Days on Market: 28 ⬆️Price Decreased: 29 % ⬇️Price Increased: 0 %Relisted: 10 % ⬇️Inventory: 21 ⬇️Median Rent: $3,975 ⬆️MAI: 56 ⬆️ (📈 Strong Seller's Market)Market Analysis: The MAI continues its remarkable ascent, hitting 56 from 55 last week. The sweet spot ($790k) is moving at lightning speed (7 DOM), fueling the market's overall strength. New listings entering at significantly higher price points ($1.39M) suggest optimism in the upper tier, though these will likely face extended marketing periods. Fewer price cuts (29% vs. 36% previously) add evidence of strengthening.🏡 Poolesville, MD – Single‑Family HomesMedian List Price: $1,014,500 ⬇️Median Price of New Listings: $874,900 ⬆️Price Per Square Foot: $342 ⬇️Average Days on Market: 148 ⬆️Median Days on Market: 140 ⬆️Price Decreased: 0 %Price Increased: 0 %Relisted: 0 %Inventory: 6 ⬇️Median Rent: $3,500 ↔️MAI: 46 ⬆️ (📈 Strong Seller's Market)Market Analysis: With just six listings, this micro‑market remains highly volatile. The MAI strengthened to 46 despite limited absorption. The dramatic disparity between the ultra‑luxury outlier ($8.95M at 329 DOM) and the newest entry ($750k at just 7 DOM) skews all metrics. This market's small size obscures true trends; any single transaction significantly impacts all indicators.🏡 Potomac, MD – Single‑Family HomesMedian List Price: $2,322,500 ⬇️Median Price of New Listings: $1,380,000 ⬇️Price Per Square Foot: $366 ⬇️Average Days on Market: 81 ⬇️Median Days on Market: 35 ⬆️Price Decreased: 38 % ⬆️Price Increased: 0 % ⬇️Relisted: 2 % ↔️Inventory: 56 ⬆️Median Rent: $7,000 ⬆️MAI: 44 ↔️ (📊 ‑Slight Seller's Advantage‑)Market Analysis: Potomac's high‑end market is experiencing a pronounced ...
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Market Monday
Apr 21, 2025Tap to summarize
The Montgomery County real estate market showed varied performance across neighborhoods and price points during a week impacted by spring break, Easter, and Passover. Today's analysis breaks down current conditions by location and property type, with the understanding that these figures likely reflect temporarily muted activity due to the holidays.Friday's Market Pulse InsightsDespite seasonal slowdowns, data from April 9-16 shows increasing competition. Multiple offers appeared in 67% of transactions, with buyers submitting an average of 1.8 offers per listing. Nearly three-quarters of properties sold above asking price, while many buyers conceded on inspection terms to strengthen their position.Today's Neighborhood AnalysisLet's explore what the current market conditions mean for your specific neighborhood below.🏡 Bethesda, MD – Single‑Family HomesMedian List Price: $2,242,000 ⬇️Median Price of New Listings: $1,379,000 ⬇️Price Per Square Foot: $466 ⬆️Average Days on Market: 74 ⬇️Median Days on Market: 35 ⬆️Price Decreased: 31 % ⬇️Price Increased: 2 %Relisted: 7 % ⬇️Inventory: 108 ⬆️Median Rent: $4,713 ⬆️Market Action Index (MAI): 39 ⬇️ (📊 Slight Seller's Advantage)Market Analysis: List prices slid another 6.5 % this week and MAI ticked down to 39, confirming a cooling trend. Inventory is up 11 % in just seven days, giving buyers more leverage. Average DOM fell, but median DOM rose—evidence of a two‑speed market where well‑priced homes still move quickly while overpriced properties linger. Expect continued price pressure unless MAI reverses.🏢 Bethesda, MD – Condos/TownhomesMedian List Price: $447,000 ⬇️Median Price of New Listings: $1,259,950 ⬆️Price Per Square Foot: $429 ⬆️Average Days on Market: 53 ⬇️Median Days on Market: 28 ⬇️Price Decreased: 42 % ⬆️Price Increased: 0 %Relisted: 11 % ⬇️Inventory: 38Median Rent: $2,980 ⬇️MAI: 47 ⬇️ (📈 Strong Seller's Market)Market Analysis: The MAI slipped from 49 to 47, but remains robust. Nearly half of sellers have trimmed prices, yet DOM has improved, suggesting tactical rather than distressed reductions. A single luxury listing ($1.26M) skewed the "new‑listing" median sharply higher; core inventory remains concentrated in the $300‑$650k band.🏡 Chevy Chase, MD – Single‑Family HomesMedian List Price: $2,300,000 ⬇️Median Price of New Listings: $2,295,000 ⬆️Price Per Square Foot: $527 ⬇️Average Days on Market: 100 ⬆️Median Days on Market: 35 ⬆️Price Decreased: 48 % ⬇️Price Increased: 3 %Relisted: 12 % ⬇️Inventory: 33 ⬇️Median Rent: $5,873MAI: 35 ⬆️ (📊 Slight Seller's Advantage)Market Analysis: Inventory tightened slightly and MAI ticked up, hinting at stabilizing demand. Yet pricing continues to soften (‑7.8 % week‑over‑week). High DOM and a shrinking price‑per‑square‑foot point to buyer push‑back at the top end; watch for price capitulation on listings in the top quartile range.🏢 Chevy Chase, MD – Condos/TownhomesMedian List Price: $442,000 ⬇️Median Price of New Listings: $378,450 ⬆️Price Per Square Foot: $424Average Days on Market: 68 ⬇️Median Days on Market: 35 ⬇️Price Decreased: 39 % ⬆️Price Increased: 0 %Relisted: 5 %Inventory: 62 ⬆️Median Rent: $2,606 ⬇️MAI: 33 ⬆️ (📊 Slight Seller's Advantage)Market Analysis: MAI edged higher despite rising inventory, indicating demand is holding. Median list price fell 9.6 % in one week, undoing much of last month's gains. Expect continued volatility until excess supply (now 62 units) is absorbed.🏡 Gaithersburg, MD – Single‑Family HomesMedian List Price: $937,400 ⬆️Median Price of New Listings: $950,000 ⬆️Price Per Square Foot: $285 ⬇️Average Days on Market: 66 ⬇️Median Days on Market: 25 ⬆️Price Decreased: 39 % ⬆️Price Increased: 2 % ⬇️Relisted: 6 %Inventory: 64 ⬆️Median Rent: $3,100 ⬇️MAI: 47 ⬇️ (📈 Strong Seller's Market)Market Analysis: A jump in inventory and discounts pushed MAI lower, but the market still favors sellers. The rise in list prices is composition‑driven (more upper‑tier homes); PPSF decline confirms broader value softness. If MAI dips below 45, prices are likely to follow.🏢 Gaithersburg, MD – Condos/TownhomesMedian List Price: $430,000 ⬆️Median Price of New Listings: $502,500 ⬆️Price Per Square Foot: $274 ⬆️Average Days on Market: 44 ⬇️Median Days on Market: 21 ⬇️Price Decreased: 26 % ⬇️Price Increased: 2 % ⬆️Relisted: 6 % ⬇️Inventory: 65 ⬆️Median Rent: $2,210 ⬆️MAI: 59 ⬇️ (📈 Strong Seller's Market)Market Analysis: Despite a slight MAI slide, this is still the county's hottest condo sub‑market. Faster DOM and fewer price cuts signal firm demand, especially in the $500k+ bracket, where new listings are concentrated.🏡 Germantown, MD – Single‑Family HomesMedian List Price: $825,000 ↔️Median Price of New Listings: $657,250 ⬇️Price Per Square Foot: $246 ⬇️Average Days on Market: 52 ⬆️Median Days on Market: 21 ⬆️Price Decreased: 24 % ⬇️Price Increased: 5 % ⬇️Relisted: 0 %Inventory: 21 ⬇️Median Rent: $2,450 ⬇️MAI: 56 ⬆️ (📈 Strong Seller's Market)Market Analysis: Supply tightened again and MAI surged to 56—the strongest SF reading in our coverage. Lower entry‑level inventory (sub‑$650k) is fueling bidding wars; meanwhile, luxury listings above $1.5 M remain sparse.🏢 Germantown, MD – Condos/TownhomesMedian List Price: $369,950 ⬆️Median Price of New Listings: $332,500 ⬇️Price Per Square Foot: $265 ⬆️Average Days on Market: 30 ⬇️Median Days on Market: 11 ⬇️Price Decreased: 29 % ⬇️Price Increased: 2 % ⬇️Relisted: 0 %Inventory: 58 ⬆️Median Rent: $2,023 ⬆️MAI: 71 ⬆️ (📈 Strong Seller's Market)Market Analysis: Germantown's condo market just hit a cycle‑high MAI of 71. Even with a 45 % inventory spike, DOM keeps shrinking—proof that demand far outstrips new supply. Expect upward pressure on prices, especially below $425k.🏡 Kensington, MD – Single‑Family HomesMedian List Price: $893,250 ⬇️Median Price of New Listings: $769,000 ⬇️Price Per Square Foot: $346 ⬇️Average Days on Market: 51 ⬇️Median Days on Market: 25 ⬆️Price Decreased: 36 % ⬆️Price Increased: 0 %Relisted: 14 % ⬆️Inventory: 22 ⬆️Median Rent: $3,750MAI: 55 ⬆️ (📈 Strong Seller's Market)Market Analysis: Price metrics softened, but MAI popped five points on brisk absorptions of mid‑tier homes ($650‑$950k). Expect continued polarization: competitive below $1M, sluggish above $1.5M.🏡 Poolesville, MD – Single‑Family HomesMedian List Price: $1,079,000 ⬇️Median Price of New Listings: $695,000 ⬇️Price Per Square Foot: $383 ⬇️Average Days on Market: 118 ⬇️Median Days on Market: 7 ⬇️Price Decreased: 0 %Price Increased: 0 %Relisted: 0 %Inventory: 7 ⬆️Median Rent: $3,500MAI: 43 ↔️ (📊 Slight Seller's Advantage)Market Analysis: Micro‑market volatility is pronounced with only seven active listings. A new sub $700k entry dramatically reset the "new‑listing" median. Watch MAI closely; any slip below 40 could tilt leverage to buyers.🏡 Potomac, MD – Single‑Family HomesMedian List Price: $2,495,000 ⬇️Median Price of New Listings: $2,100,000 ⬆️Price Per Square Foot: $372Average Days on Market: 84 ⬇️Median Days on Market: 28 ⬇️Price Decreased: 31 % ⬆️Price Increased: 2 % ⬇️Relisted: 2 %Inventory: 49 ⬆️Median Rent: $6,000 ⬆️MAI: 44 ↔️ (📊 ‑Slight Seller's Advantage‑)Market Analysis: Potomac remains range‑bound: MAI flat, PPSF flat, but more price reductions signal seller fatigue in the $2.5 M‑$4 M range. The dip in DOM hints that recent cuts are working.🏡 Rockville, MD – Single‑Family HomesMedian List Price: $862,500 ⬇️Median Price of New Listings: $754,250 ⬇️Price Per Square Foot: $360 ⬇️Average Days on Market: 34 ⬆️Median Days on Market: 14Price Decreased: 34 %Price Increased: 0 %Relisted: 6 % ⬇️Inventory: 64 ⬆️Median Rent: $3,200 ⬇️MAI: 62 ⬆️ (📈 Strong Seller's Market)Market Analysis: Even with a 7% price pullback, Rockville posts the second‑highest MAI in the county. Entry‑level inventory ($575‑$700 k) continues to clear in under a week; softness is confined to the $1.3M+ tier.🏢 Rockville, MD – Condos/TownhomesMedian List Price: $449,000 ⬇️Median Price of New Listings: $502,450 ⬆️Price Per Square Foot: $357 ⬇️Average Days on Market: 63 ⬆️Median Days on Market: 35 ⬆️Price Decreased: 38 % ⬆️Price Increased: 4 % ⬇️Relisted: 6 %Inventory: 113 ⬇️Median Rent: $2,500 ⬆️MAI: 43 ⬆️ (📊 Slight Seller's Advantage)Market Analysis: A modest MAI uptick masks growing price resistance: 38% of listings have been reduced. New listing median broke the $500k barrier, suggesting sellers are testing higher price points, but absorption will dictate staying power.🏡 Silver Spring, MD – Single‑Family HomesMedian List Price: $698,000 ⬆️Median Price of New Listings: $682,450 ⬇️Price Per...
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Market Monday
Apr 7, 2025Tap to summarize
As I shared in my Weekend Market Pulse on April 4th, the Montgomery County Real Estate market has experienced a significant rebound in activity after a brief cooling period in mid-to-late March, despite dramatic economic shifts reverberating through our region. The data confirms my prediction about "another bump" in market activity, with competition surging back dramatically. Multiple offers jumped to 69% of transactions (up from 37% the previous week) with an average of 2.2 offers per property. An impressive 94% of homes sold above list price (compared to 53% the week before), while buyers make major concessions on inspections, with waived inspections more than doubling to 43.6% and full inspections plummeting to 12.9%.While competition among active buyers is intense, showing data reveals overall buyer traffic down 15-37% compared to last spring, suggesting a smaller but more motivated buyer pool. This reduction in showing activity leads me to believe there may be more buyer opportunities this spring than originally projected. For now, absorption rates are keeping pace with the low but increasing inventory, but two significant economic developments could dramatically alter this landscape.First, the Trump administration's sweeping tariffs have sent shockwaves through global markets. On April 3-4, the stock market experienced its worst losses since the COVID-19 pandemic crash in March 2020, with the Dow plunging over 2,200 points (5.5%) and the S&P 500 falling nearly 6% as China retaliated with its own 34% tariffs on U.S. goods (CNN Business). The tariffs include a baseline 10% on all imports plus country-specific rates: 54% for China, 46% for Vietnam, and 20% for Europe according to Reuters.As of Monday morning, the fallout from Trump's tariffs continues to intensify dramatically. Global markets are in turmoil as President Trump characterizes the sweeping tariffs as "medicine" while warning foreign governments they would need to pay "a lot of money" to lift the levies (Reuters). The market reaction has been severe, with Asian equity markets sinking, European shares crashing to 16-month lows, and oil prices plummeting amid fears of higher prices, weaker demand, and potentially a global recession. Goldman Sachs has raised the odds of a U.S. recession to 45% in the next 12 months (Reuters). Major financial leaders like JPMorgan CEO Jamie Dimon warn these tariffs could have lasting negative consequences, while fund manager Bill Ackman warned they could lead to an "economic nuclear winter" (Reuters).Meanwhile, federal workforce reductions continue to impact our local economy. Maryland-based federal contractors have reported planned layoffs affecting more than 1,250 people since February, with almost 1,000 of those jobs in Montgomery County alone according to state database records (Baltimore Banner). This is particularly concerning given that federal spending accounts for one-tenth of Maryland's GDP according to Maryland Comptroller Brooke Lierman. With numerous federal agencies announcing significant reductions in force (NPR), and many more cuts expected in the coming weeks, both federal employees and contractors face unprecedented uncertainty in our region.I'll be carefully monitoring how these macroeconomic factors influence our local real estate dynamics in the coming weeks. The detailed neighborhood data below shows generally stable market conditions with slight shifts in inventory and pricing, offering valuable insights into local variations across Montgomery County.Let's explore what the current market conditions mean for your specific neighborhood below.Bethesda, MD - Single-Family Homes 🏡Median List Price: $2,399,000 (⬆️ from $2,397,000)Median Price of New Listings: $1,562,000 (⬇️ from $1,567,000)Price Per Square Foot: $464 (⬇️ from $475)Average Days on Market: 82 (⬆️ from 81)Median Days on Market: 28 (unchanged)Price Decreased: 34% (⬆️ from 24%)Price Increased: 2% (⬇️ from 5%)Relisted: 8% (⬇️ from 14%)Inventory: 97 (⬆️ from 86)Median Rent: $4,425 (⬇️ from $4,800)Market Action Index (MAI): 40 (📊 Slight Seller's Advantage - unchanged)Market Analysis:The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to see prices move lower as a result. If the MAI falls into the Buyer's zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.Bethesda, MD - Condos/Townhomes 🏢Median List Price: $455,000 (⬆️ from $434,950)Median Price of New Listings: $637,000 (⬆️ from $381,000)Price Per Square Foot: $425 (⬆️ from $383)Average Days on Market: 64 (⬆️ from 51)Median Days on Market: 32 (⬆️ from 14)Price Decreased: 37% (⬆️ from 15%)Price Increased: 0% (unchanged)Relisted: 18% (⬆️ from 13%)Inventory: 38 (⬇️ from 40)Median Rent: $3,000 (⬇️ from $3,015)Market Action Index (MAI): 49 (📈 Strong Seller's Market - unchanged)Market Analysis:In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.Chevy Chase, MD - Single-Family Homes 🏡Median List Price: $2,495,000 (⬇️ from $2,700,000)Median Price of New Listings: $1,591,500 (⬆️ from $1,395,000)Price Per Square Foot: $547 (⬇️ from $553)Average Days on Market: 98 (⬇️ from 108)Median Days on Market: 28 (⬇️ from 42)Price Decreased: 49% (⬆️ from 28%)Price Increased: 3% (⬇️ from 7%)Relisted: 14% (⬇️ from 17%)Inventory: 35 (⬆️ from 29)Median Rent: $5,873 (⬆️ from $5,200)Market Action Index (MAI): 33 (📊 Slight Seller's Advantage - unchanged)Market Analysis:In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.Chevy Chase, MD - Condos/Townhomes 🏢Median List Price: $489,000 (⬇️ from $518,500)Median Price of New Listings: $279,950 (⬇️ from $450,000)Price Per Square Foot: $424 (⬇️ from $476)Average Days on Market: 71 (⬇️ from 78)Median Days on Market: 42 (⬇️ from 46)Price Decreased: 35% (unchanged)Price Increased: 0% (unchanged)Relisted: 5% (⬇️ from 7%)Inventory: 55 (⬆️ from 46)Median Rent: $2,715 (unchanged)Market Action Index (MAI): 32 (📊 Slight Seller's Advantage - ⬇️ from 36)Market Analysis:The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We're already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer's zone. Watch for a persistent up-turn in Market Action to signal prices rising again.Gaithersburg, MD - Single-Family Homes 🏡Median List Price: $894,900 (⬆️ from $877,000)Median Price of New Listings: $824,900 (⬆️ from $822,500)Price Per Square Foot: $300 (⬆️ from $289)Average Days on Market: 81 (⬆️ from 80)Median Days on Market: 21 (unchanged)Price Decreased: 37% (⬆️ from 28%)Price Increased: 6% (⬇️ from 7%)Relisted: 6% (⬇️ from 7%)Inventory: 52 (⬆️ from 46)Median Rent: $3,250 (⬆️ from $3,175)Market Action Index (MAI): 48 (📈 Strong Seller's Market - ⬇️ from 50)Market Analysis:In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.Gaithersburg, MD - Condos/Townhomes 🏢Median List Price: $389,990 (⬆️ from $349,900)Median Price of New Listings: $424,900 (⬆️ from $402,000)Price Per Square Foot: $270 (⬆️ from $263)Average Days on Market: 53 (⬆️ from 46)Median Days on Market: 28 (⬆️ from 14)Price Decreased: 30% (⬆️ from 27%)Price Increased: 0% (⬇️ from 4%)Relisted: 7% (⬇️ from 8%)Inventory: 56 (⬆️ from 49)Median Rent: $2,165 (⬆️ from $2,110)Market Action Index (MAI): 60 (📈 Strong Seller's Market - ⬇️ from 64)Market Analysis:The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We're already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer's zone. Watch for a persistent up-turn in Market Action to signal prices rising again.Germantown, MD - Single-Family Homes 🏡Median List Price: $825,000 (⬆️ from $774,949)Median Price of New Listings: $799,000 (⬇️ from $824,450)Price Per Square Foot: $249 (⬇️ from $257)Average Days on Market: 45 (⬆️ from 41)Median Days on Market: 14 (⬇️ from 18)Price Decreased: 30% (⬆️ from 18%)Price Increased: 9% (⬇️ from 14%)Relisted: 0% (unchanged)Inventory: 23 (⬆️ from 22)Median Rent: $2,520 (⬇️ from $2,550)Market Action Index (MAI): 54 (📈 Strong Seller's Market - ⬆️ from 50)Market Analysis:In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller's market so it is likely that the downward pricing pressure will be lig...
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Market Monday
Mar 31, 2025Tap to summarize
Competition Heats Up Again After Brief LullFirst, my apologies for the delay in getting this week's Market Monday to you. My flight home yesterday was canceled, which pushed everything back a bit.If you caught the Weekend Market Pulse, you saw how our market temporarily cooled after the mid-March spike in activity. The data showed a clear pullback with offers per listing dropping to 1.5 (down from 2.6), only 37% of homes receiving multiple offers (down from 71%), and full inspections returning to 47% (up from just 6% during the peak).However, I'm already seeing strong signs that buyer activity is rebounding sharply. I briefly talked to the agent who held my open house on Saturday, and as expected, it was a full house. We ended up receiving multiple above-asking offers and canceled the second open house in favor of ratifying a non-contingent cash offer well over asking. If my business is any indication, I expect to see the market swing further in sellers' favor in the coming weeks; though I would also predict a slight dip in showings the week of April 12th when MCPS lets out for Spring Break. Buyer’s take note, if the Spring continues to follow traditional seasonal patters, this might be your best opportunity until the summer slow down. Sellers, I’d caution a little patience that week. Interestingly, two of the offers we received came with buyer-imposed deadlines, a strategy some buyers are using to retain control in an competitive environment. (Side note: I'll write a post soon on when using a deadline on a buyer's offer makes strategic sense.)I spoke to a lender and rates are slightly up today over last week, but fairly consistent with the last couple of weeks. Despite this, the competitive landscape remains strong overall despite broader economic concerns around inflation and tariffs. As you know, we recently added Poolesville to our market coverage. Please note that with an inventory of only 3 homes, we have a very small sample size for this area this week! Let's explore what the current market conditions mean for your specific neighborhood below.🏡 Bethesda, MD – Single-Family HomesMedian List Price: $2,374,000Median Price of New Listings: $1,797,500Price Per Square Foot: $472Average Days on Market: 79Median Days on Market: 28Price Decreased: 32% ⬇️Price Increased: 2% ⬆️Relisted: 10%Inventory: 98Median Rent: $4,975Market Action Index (MAI): 40 (📊 Slight Seller's Advantage)Market Analysis: The market has been cooling off consistently as inventory rises to 98 properties and demand slackens. All four price quartiles show downward pressure, indicating this trend isn't isolated to just one segment. The cooling is evident in both price metrics and Days on Market figures (79 average/28 median). According to the Market Monitor, this represents a significant increase from earlier in the year. Despite this cooling, the MAI of 40 still indicates a seller's advantage, though less pronounced than previous months.🏢 Bethesda, MD – Condos/TownhomesMedian List Price: $455,000Median Price of New Listings: $369,000Price Per Square Foot: $385Average Days on Market: 66Median Days on Market: 25Price Decreased: 29% ⬇️Price Increased: 0%Relisted: 18%Inventory: 38Median Rent: $2,999Market Action Index (MAI): 50 (📈 Strong Seller's Market)Market Analysis: Despite consistent market cooling, the MAI remains at a robust 50, signaling continued seller strength. The Market Monitor suggests price weakness is visible across most segments, with all but the lowest-priced units showing negative pressure. This price plateau comes with rising inventory (now at 38 units), but demand remains significant enough to maintain seller leverage. While 29% of listings have seen price decreases, the strong MAI suggests this is more about correction than market weakness.🏡 Chevy Chase, MD – Single-Family HomesMedian List Price: $2,747,500Median Price of New Listings: $4,450,000Price Per Square Foot: $556Average Days on Market: 123Median Days on Market: 49Price Decreased: 50% ⬇️Price Increased: 4% ⬆️Relisted: 25%Inventory: 28Median Rent: $5,750Market Action Index (MAI): 33 (📊 Slight Seller's Advantage)Market Analysis: Half of all listings have seen price reductions - a significant indicator of market adjustment. The average property has been listed for 123 days, with half of homes on the market for at least 49 days. This extended market time, coupled with the high percentage of price decreases, suggests sellers are recalibrating expectations. The MAI of 33 still indicates a seller's advantage, but it's among the lowest in our coverage area. Pricing trends lack strong directional indication, with mixed signals across different price quartiles.🏢 Chevy Chase, MD – Condos/TownhomesMedian List Price: $489,000Median Price of New Listings: $740,000Price Per Square Foot: $425Average Days on Market: 73Median Days on Market: 35Price Decreased: 37% ⬇️Price Increased: 0%Relisted: 6%Inventory: 51Median Rent: $2,663Market Action Index (MAI): 31 (📊 Slight Seller's Advantage)Market Analysis: With an MAI of 31, this market is closest to the neutral threshold (30) of any area we track. The Market Monitor reveals active inventory has increased to 51 units, putting downward pressure on prices. Interestingly, while list prices have decreased, price per square foot has remained relatively flat, suggesting larger units may be driving the apparent price decline. With 37% of listings seeing price decreases and the MAI trending downward, buyers may find increasing leverage in negotiations if this trajectory continues.🏡 Gaithersburg, MD – Single-Family HomesMedian List Price: $894,950Median Price of New Listings: $799,000Price Per Square Foot: $299Average Days on Market: 80Median Days on Market: 21Price Decreased: 35% ⬇️Price Increased: 6% ⬆️Relisted: 6%Inventory: 52Median Rent: $3,250Market Action Index (MAI): 47 (Strong Seller's Market)Market Analysis: Despite 35% of listings seeing price reductions, the MAI remains strong at 47, indicating continued seller leverage. The Market Monitor shows pricing has been mixed across segments: the high-end (top quartile) is trending down while other segments remain relatively stable. The stark contrast between average days on market (80) and median days on market (21) indicates a split market - most properties move quickly, while a subset lingers significantly longer. Notably, the lower-priced segments show considerably shorter market times, with properties in the bottom quartile averaging just 14 days.🏢 Gaithersburg, MD – Condos/TownhomesMedian List Price: $394,990Median Price of New Listings: $420,000Price Per Square Foot: $268Average Days on Market: 45Median Days on Market: 21Price Decreased: 28% ⬇️Price Increased: 0%Relisted: 7%Inventory: 54Median Rent: $2,187Market Action Index (MAI): 59 (Strong Seller's Market)Market Analysis: With one of the highest MAI values in our tracking (59), this market remains decisively seller-oriented despite cooling indicators. The Market Monitor shows the lower half of the market (by price) is trending downward while higher-priced units maintain stability. Entry-level units (bottom quartile) are moving particularly quickly, with new listings in this range often under contract within a week. The recent price softening appears to be a correction rather than a fundamental shift, as the strong MAI suggests sustained demand even with increasing inventory levels.🏡 Kensington, MD – Single-Family HomesMedian List Price: $932,499Median Price of New Listings: $929,999Price Per Square Foot: $361Average Days on Market: 56Median Days on Market: 18Price Decreased: 28% ⬇️Price Increased: 0%Relisted: 6%Inventory: 18Median Rent: $3,500Market Action Index (MAI): 51 (Strong Seller's Market)Market Analysis: Despite price weakness across multiple segments, the MAI remains robust at 51, reflecting strong demand relative to available inventory. The Market Monitor reveals a significant disparity in market performance between price tiers: top-tier homes ($2M+) average 73 days on market, while lower-tier properties move in 21 days or less. The steady inventory level (holding at 18 homes) helps maintain seller leverage despite price adjustments. Watch for the middle price tiers, which are showing the most pronounced downward pressu...
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Market Monday
Mar 24, 2025Tap to summarize
Hot Spring Market Persists as Fed Navigates Economic PressuresIf you caught the Weekend Market Pulse on Friday, you've already seen how our spring market is performing with strong competition across most price points. This week's Federal Reserve meeting brought a notable shift in outlook, with officials signaling fewer potential rate cuts this year than previously anticipated. Recent tariff announcements and persistent inflation are creating economic headwinds that have altered the Fed's trajectory, potentially keeping mortgage rates higher for longer than buyers had hoped.The competitive landscape continues with 71% of properties receiving multiple offers and an average of 2.6 offers per property. This is further reflected in both pricing and inspection practices. With 65% of homes selling above list price, buyers are not only paying premiums but also making significant concessions on inspections. Pass/fail inspections now dominate at 41% of transactions while full inspections represent only 6% of deals - clear evidence of buyers adapting to competitive conditions.This week we've added Poolesville to our market coverage following reader requests. If you're interested in seeing market intelligence for an area not currently included in our reports, please let us know.Let's explore what the current market conditions mean for your specific neighborhood below.🏡 Bethesda, MD - Single-Family HomesMedian List Price: $2,397,000Median Price of New Listings: $1,567,000Price Per Square Foot: $475Average Days on Market: 81Median Days on Market: 28Price Decreased: 24% ⬇️Price Increased: 5% ⬆️Relisted: 14%Inventory: 86Median Rent: $4,800Market Action Index (MAI): 40 (📊 Slight Seller’s Advantage)Market Analysis:The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.🏢 Bethesda, MD - Condos/TownhomesMedian List Price: $434,950Median Price of New Listings: $381,000Price Per Square Foot: $383Average Days on Market: 51Median Days on Market: 14Price Decreased: 15% ⬇️Price Increased: 0%Relisted: 13%Inventory: 40Median Rent: $3,015Market Action Index (MAI): 49 (📈 Strong Seller’s Market)Market Analysis:The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.🏡 Chevy Chase, MD - Single-Family HomesMedian List Price: $2,700,000Median Price of New Listings: $1,395,000Price Per Square Foot: $553Average Days on Market: 108Median Days on Market: 42Price Decreased: 28% ⬇️Price Increased: 7% ⬆️Relisted: 17%Inventory: 29Median Rent: $5,200Market Action Index (MAI): 33 (📊 Slight Seller’s Advantage)Market Analysis:The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in MAI, we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.🏢 Chevy Chase, MD - Condos/TownhomesMedian List Price: $518,500Median Price of New Listings: $450,000Price Per Square Foot: $476Average Days on Market: 78Median Days on Market: 46Price Decreased: 35% ⬇️Price Increased: 0%Relisted: 7%Inventory: 46Median Rent: $2,715Market Action Index (MAI): 36 (📊 Slight Seller’s Advantage)Market Analysis:The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.🏡 Gaithersburg, MD - Single-Family HomesMedian List Price: $877,000Median Price of New Listings: $822,500Price Per Square Foot: $289Average Days on Market: 80Median Days on Market: 21Price Decreased: 28% ⬇️Price Increased: 7% ⬆️Relisted: 7%Inventory: 46Median Rent: $3,175Market Action Index (MAI): 50 (📈 Strong Seller’s Market)Market Analysis:In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.🏢 Gaithersburg, MD - Condos/TownhomesMedian List Price: $349,900Median Price of New Listings: $402,000Price Per Square Foot: $263Average Days on Market: 46Median Days on Market: 14Price Decreased: 27% ⬇️Price Increased: 4% ⬆️Relisted: 8%Inventory: 49Median Rent: $2,110Market Action Index (MAI): 64 (Strong Seller’s Market)Market Analysis:The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.🏡 Germantown, MD - Single-Family HomesMedian List Price: $774,949Median Price of New Listings: $824,450Price Per Square Foot: $257Average Days on Market: 41Median Days on Market: 18Price Decreased: 18% ⬇️Price Increased: 14% ⬆️Relisted: 0%Inventory: 22Median Rent: $2,550Market Action Index (MAI): 50 (Strong Seller’s Market)Market Analysis:The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in MAI, we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit.🏢 Germantown, MD - Condos/TownhomesMedian List Price: $310,000Median Price of New Listings: $310,000Price Per Square Foot: $275Average Days on Market: 37Median Days on Market: 21Price Decreased: 34% ⬇️Price Increased: 0%Relisted: 6%Inventory: 35Median Rent: $1,964Market Action Index (MAI): 65 (Strong Seller’s Market)Market Analysis:In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.🏡 Kensington, MD - Single-Family HomesMedian List Price: $929,900Median Price of New Listings: $2,498,000Price Per Square Foot: $372Average Days on Market: 83Median Days on Market: 70Price Decreased: 45% ⬇️Price Increased: 0%Relisted: 9%Inventory: 11Median Rent: $3,500Market Action Index (MAI): 56 (Strong Seller’s Market)Market Analysis:Home sales have been exceeding new inventory for several weeks. However, prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue, prices could climb from there.🏡 Potomac, MD - Single-Family HomesMedian List Price: $2,472,250Median Price of New Listings: $1,895,000Price Per Square Foot: $373Average Days on Market: 105Median Days on Market: 42Price Decreased: 24% ⬇️Price Increased: 8% ⬆️Relisted: 5%Inventory: 38Median Rent: $4,500Market Action Index (MAI): 44 (Slight Seller’s Advantage)Market Analysis:While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s Market so prices will likely resume their climb should this trend persist.🏡 Poolesville, MD - Single-Family HomesMedian List Price: $1,548,175Median Price of New Listings: $0Price Per Square Foot: $400Average Days on Market: 200Median Days on Market: 231Price Decreased: 0% ⬇️Price Increased: 25% ⬆️Relisted: 25%Inventory: 4Median Rent: $3,500Market Action Index (MAI): 40 (📊 Slight Seller’s Advantage)Market Analysis:Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zon...
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