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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Kensington is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, South Kensington was a Seller's Market.

Key Takeaway

South Kensington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in South Kensington, MD

How much do homes in South Kensington, MD cost?

Median Sold Price

$978,750

$406/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$106,250(-9.8%)

Key Takeaway

Homes in South Kensington have sold for 9.8% less than they did a year ago.

Summary: The median home sold price in South Kensington was $978,750 in March 2024, down 9.8% from last year, and the median price per square foot was $406.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $670K$490K
-26.9%
3 $837.4K$769.5K
-8.1%
4 $887.5K$959.7K
+8.1%
5+ $1.6M$1.7M
+2.2%

Summary: South 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 decreased by 26.9%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Neighborhoods

South Kensington
-9.8%
Parkwood
-15.8%

Housing Supply in South Kensington, MD

How many homes are available in South Kensington, MD?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2527+8.0%

Summary: The South Kensington real estate market had 27 homes for sale in March 2024, a 8.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 00
0.0%
3 44
0.0%
4 1211
-8.3%
5+ 912
+33.3%

Summary: The South 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
330.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Kensington, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in South Kensington in March 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for South Kensington, MD

How long does it take to sell a home in South Kensington, MD?

Average Sale Time

Mar 2023Mar 2024CHANGE
28 Days23 Days-18.3%

Summary: Homes in South Kensington had an average of 23 days on market in Mar 2024, down by 18.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 3 homes were sold in South Kensington; 67% of homes were sold within 30 days, 33% 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 18 Days Ago

Newest Listings in South Kensington, MD

Nearby Markets to South Kensington, MD