Is Kensington, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kensington is a seller's market

Buyer's
Market

Difference Since February 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

$800,000

$374/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$5,250(-0.7%)

Key Takeaway

Homes in Kensington have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Kensington was $800,000 in February 2024, down 0.7% from last year, and the median price per square foot was $374.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$202.5K
N/A
2 $485K$383K
-21.0%
3 $785K$701K
-10.7%
4 $775K$822.5K
+6.1%
5+ $1.6M$1.3M
-17.8%

Summary: Kensington housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 21%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 17.8%.

Housing Supply in Kensington, MD

How many homes are available in Kensington, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4748+2.1%

Summary: The Kensington real estate market had 48 homes for sale in February 2024, a 2.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 02
+100.0%
2 43
-25.0%
3 1312
-7.7%
4 1415
+7.1%
5+ 1616
0.0%

Summary: The Kensington housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1210-16.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kensington, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in Kensington in February 2024, down by 16.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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

Feb 2023Feb 2024CHANGE
33 Days18 Days-45.4%

Summary: Homes in Kensington had an average of 18 days on market in Feb 2024, down by 45.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kensington are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 10 homes were sold in Kensington; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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