Is Kensington, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Kensington was a Seller's Market.
Housing Prices in Kensington, MD
How much do homes in Kensington, MD cost?
Median Sold Price
$800,000
$373/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Kensington was $800,000 in March 2024, up 1.3% from last year, and the median price per square foot was $373.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $202.5K | N/A |
2 Bedrooms | $270K | $475K | +75.9% |
3 Bedrooms | $735K | $710K | -3.4% |
4 Bedrooms | $742.5K | $822.5K | +10.8% |
5+ Bedrooms | $1.6M | $1.3M | -17.0% |
Summary: Kensington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 75.9%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 17%.
Housing Supply in Kensington, MD
How many homes are available in Kensington, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 59 | +20.4% |
Summary: The Kensington real estate market had 59 homes for sale in March 2024, a 20.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 15 | 18 | +20.0% |
5+ Bedrooms | 17 | 21 | +23.5% |
Summary: The Kensington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 8 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Kensington in March 2024, down by 20.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 14 Days | -46.9% |
Summary: Homes in Kensington had an average of 14 days on market in Mar 2024, down by 46.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Kensington; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.