Is Kensington, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 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
$822,500
$446/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Kensington have sold for 6.3% less than they did a month ago.
Summary: The median home sold price in Kensington was $822,500 in May 2024, down 6.3% from last month, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $619.5K | - | N/A |
| 3 Bedrooms | $717.5K | $795K | +10.8% |
| 4 Bedrooms | $934K | $850K | -9.0% |
| 5+ Bedrooms | $2.0M | - | N/A |
Summary: Kensington housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes did not change.
Housing Supply in Kensington, MD
How many homes are available in Kensington, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 64 | +23.1% |
Summary: The Kensington real estate market had 64 homes for sale in May 2024, a 23.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 14 | 21 | +50.0% |
Summary: The Kensington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kensington, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Kensington in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% 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 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 15 Days | +224.3% |
Summary: Homes in Kensington had an average of 15 days on market in May 2024, up by 224.3% compared to last month.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 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 May 2024, 14 homes were sold in Kensington; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
