Is Kensington, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Kensington has remained a Seller's Market.
Key Takeaway
Kensington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kensington, MD
How much do homes in Kensington, MD cost?
Median Sold Price
$805,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Kensington have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Kensington was $805,000 in April 2024, up 3.9% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $202.5K | N/A |
| 2 Bedrooms | $254.5K | $490K | +92.5% |
| 3 Bedrooms | $735K | $717.5K | -2.4% |
| 4 Bedrooms | $775K | $822.5K | +6.1% |
| 5+ Bedrooms | $1.2M | $1.4M | +16.4% |
Summary: Kensington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 92.5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 16.4%.
Housing Supply in Kensington, MD
How many homes are available in Kensington, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 57 | +62.9% |
Summary: The Kensington real estate market had 57 homes for sale in April 2024, a 62.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 14 | +75.0% |
| 4 Bedrooms | 12 | 22 | +83.3% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The Kensington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kensington, you could pay more than the asking price. 92.3% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Kensington in April 2024, up by 62.5% month-over-month. Of the 13 sold homes, 0% were sold under asking, 8% were sold at asking, and 92% were sold over asking.
Days on Market for Kensington, MD
How long does it take to sell a home in Kensington, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 4 Days | -77.3% |
Summary: Homes in Kensington had an average of 4 days on market in Apr 2024, down by 77.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kensington are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Kensington; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
