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 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

-$55,500(-6.3%)

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

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $619.5K-
N/A
3 $717.5K$795K
+10.8%
4 $934K$850K
-9.0%
5+ $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 2024May 2024CHANGE
5264+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

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 21
-50.0%
3 1315
+15.4%
4 2125
+19.0%
5+ 1421
+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 2024May 2024CHANGE
1314+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

Asking vs Sold - buyer

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 2024May 2024CHANGE
4 Days15 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

Breakdown of Home Sale Times

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.

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

Report Updated 12 Days Ago

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