Good morning, and welcome to this week’s Market Monday.
Our Weekend Market Pulse showed competition surged to 61% of new contracts netting an average of 1.6 offers. Inspection waivers fell from 50% to 21%, as 35% of buyers chose full inspections and 35% opted for pass/fail. Pricing outcomes split: 61% paid above list, 30% below, and just 9% at list.
Altos Research data for the week ending June 29 shows steady inventory levels across Montgomery County, mixed demand signals and varied pricing pressure.
🏡 Bethesda, MD – Single-Family Homes
Median List Price: $2,050,000
Median Price of New Listings: $1,621,900
Price per Square Foot: $447
Average Days on Market: 74
Median Days on Market: 42
Price Decreased: 33%
Price Increased: 1%
Relisted: 14%
Inventory: 151
Median Rent: $5,400
Market Action Index: 41, slight seller’s advantage
Market Narrative: Sales and inventory have reached a stasis point, yet prices drift lower. Supply still favors sellers, so price declines will be light and uneven.
My Take: Bethesda is showing some weakness, especially in the upper two quartiles. But even the bottom two quartiles, inventory is outpacing absorption. At a medium price of $3,662,500, the top quartiles is crawling at 84 days on market. That said Days on Market in the bottom $1,150,000 median price range is a healthy 21 days.
🏢 Bethesda, MD – Condos/Townhomes
Median List Price: $434,750
Median Price of New Listings: $862,450
Price per Square Foot: $345
Average Days on Market: 40
Median Days on Market: 32
Price Decreased: 42%
Price Increased: 0%
Relisted: 4%
Inventory: 48
Median Rent: $3,030
Market Action Index: 42, slight seller’s advantage
Market Narrative: More condos are available and demand has softened, which pushes prices lower. A sustained uptick in the index will signal a return to firmer pricing.
My Take: Days on market were under 30 for three of four segments. While the second quartile with a median price of $349,950 is at 49 days, only 1 new unit was added while three were absorbed.
🏡 Chevy Chase, MD – Single-Family Homes
Median List Price: $2,199,800
Median Price of New Listings: $2,485,000
Price per Square Foot: $540
Average Days on Market: 90
Median Days on Market: 42
Price Decreased: 40%
Price Increased: 0%
Relisted: 16%
Inventory: 57
Median Rent: $5,300
Market Action Index: 37, slight seller’s advantage
Market Narrative: Sales and inventory sit in balance, yet prices edge lower. Watch for an index uptick to mark price stability.
My Take: I am seeing some weakness here, inventory out paced absorption in all but the second quartile with a median price of $1,925,000, which had zero new inventory or absorption this week.
🏢 Chevy Chase, MD – Condos/Townhomes
Median List Price: $474,900
Median Price of New Listings: $945,000
Price per Square Foot: $407
Average Days on Market: 89
Median Days on Market: 56
Price Decreased: 42%
Price Increased: 0%
Relisted: 10%
Inventory: 71
Median Rent: $2,765
Market Action Index: 31, slight seller’s advantage
Market Narrative: The market has eased and prices have plateaued. If the index resumes its climb, prices will follow. A drop into buyer territory will trigger downward pressure.
My Take: Overall 3 units were added and 4 were absorbed. Interestingly 3 of the 4 absorbed where in the third quartile with a median price of $350,000.
🏡 Gaithersburg, MD – Single-Family Homes
Median List Price: $889,000
Median Price of New Listings: $874,900
Price per Square Foot: $257
Average Days on Market: 70
Median Days on Market: 42
Price Decreased: 40%
Price Increased: 1%
Relisted: 11%
Inventory: 87
Median Rent: $3,200
Market Action Index: 46, strong seller’s market
Market Narrative: Sales and inventory are stable, and prices have not moved higher. Inventory remains low, keeping the market firmly in seller territory.
My Take: All four tiers absorbed at or above new supply. The bottom two tiers sold in under 30 days, underscoring broad‐based strength.
🏢 Gaithersburg, MD – Condos/Townhomes
Median List Price: $475,000
Median Price of New Listings: $500,000
Price per Square Foot: $285
Average Days on Market: 40
Median Days on Market: 21
Price Decreased: 35%
Price Increased: 1%
Relisted: 7%
Inventory: 89
Median Rent: $2,250
Market Action Index: 55, strong seller’s market
Market Narrative: Demand outpaces supply and prices remain on an upward trend. Expect continued strength unless the index shifts lower.
My Take: Three of four tiers cleared new listings, with even the slowest segment selling in 24 days. That rapid turnover sustains price momentum.
🏡 Germantown, MD – Single-Family Homes
Median List Price: $799,995
Median Price of New Listings: $749,995
Price per Square Foot: $265
Average Days on Market: 48
Median Days on Market: 28
Price Decreased: 26%
Price Increased: 0%
Relisted: 16%
Inventory: 38
Median Rent: $2,598
Market Action Index: 45, strong seller’s market
Market Narrative: The market has cooled and prices have plateaued. Sellers still hold the edge, but watch the index for early signs of a shift.
My Take: There is some weakness here but I do see signs of strength. Bottom two quartiles show 7-14 days on market and the third quartile at the $850,000 median price, absorption outpaced inventory 3 to 1.
🏢 Germantown, MD – Condos/Townhomes
Median List Price: $367,750
Median Price of New Listings: $435,000
Price per Square Foot: $263
Average Days on Market: 44
Median Days on Market: 25
Price Decreased: 42%
Price Increased: 2%
Relisted: 6%
Inventory: 84
Median Rent: $2,011
Market Action Index: 54, strong seller’s market
Market Narrative: Despite a dip in the index, demand remains strong enough to keep the market in seller territory. A renewed index rise will lift prices again.
My Take: There was a surge of inventory in the top $535,000 median price quartile, 7 unit and only 1 absorbed, yet days on market still only sits a healthy 35 but I wouldn’t be surprised to see a drag on days on market in that quartile next week. The bottom 2 quartiles, absorption is matching new inventory.
🏡 Kensington, MD – Single-Family Homes
Median List Price: $1,095,000
Median Price of New Listings: $1,049,500
Price per Square Foot: $352
Average Days on Market: 69
Median Days on Market: 49
Price Decreased: 42%
Price Increased: 3%
Relisted: 12%
Inventory: 33
Median Rent: $4,075
Market Action Index: 49, strong seller’s market
Market Narrative: More homes are available and demand has softened, yet prices hold firm. It may take several weeks of slack demand before prices dip.
My Take: Once again I ams seeing more strength than Altos. Top two quartiles absorption met inventory and it exceeded inventory in the bottom two.
🏡 Poolesville, MD – Single-Family Homes
Median List Price: $1,000,000
Median Price of New Listings: $574,900
Price per Square Foot: $285
Average Days on Market: 123
Median Days on Market: 42
Price Decreased: 20%
Price Increased: 0%
Relisted: 0%
Inventory: 10
Median Rent: $3,500
Market Action Index: 37, slight seller’s advantage
Market Narrative: The market has cooled and prices have moved lower. Watch the index for signs of a rebound in demand.
My Take: Sample size is small here, and this market will be very property specific, but we did have only 1 unit added and two absorbed.
🏡 Potomac, MD – Single-Family Homes
Median List Price: $1,799,949
Median Price of New Listings: $1,250,000
Price per Square Foot: $355
Average Days on Market: 81
Median Days on Market: 39
Price Decreased: 29%
Price Increased: 0%
Relisted: 10%
Inventory: 72
Median Rent: $5,325
Market Action Index: 42, slight seller’s advantage
Market Narrative: More supply has pushed prices lower. A rebound in the index will signal stabilizing or rising prices.
My Take: Absorption significantly outpaced inventory. 5 units added and 16 absorbed! 7 absorptions in the $2,062,500 median price quartile. In the bottom quartile with a median price of $1,224,000 absorption is matching inventory and we are at a blazing 14 days on market. I see some strength here and neighborhood like Fox Hills West, are particularly well suited.
🏡 Rockville, MD – Single-Family Homes
Median List Price: $854,500
Median Price of New Listings: $704,000
Price per Square Foot: $329
Average Days on Market: 51
Median Days on Market: 35
Price Decreased: 48%
Price Increased: 1%
Relisted: 6%
Inventory: 80
Median Rent: $3,500
Market Action Index: 54, strong seller’s market
Market Narrative: The market has cooled and prices have flattened, yet demand keeps it squarely in seller territory.
My Take: Absorption met or beat inventory in bottom 3 quartiles. Days on Market for those three are also healthy. Weakness is in the top quartile with a median price of $1,394,500.
🏢 Rockville, MD – Condos/Townhomes
Median List Price: $449,900
Median Price of New Listings: $346,200
Price per Square Foot: $339
Average Days on Market: 62
Median Days on Market: 35
Price Decreased: 30%
Price Increased: 1%
Relisted: 9%
Inventory: 160
Median Rent: $2,583
Market Action Index: 40, slight seller’s advantage
Market Narrative: Sales and inventory have balanced. Low supply still favors sellers, but renewed demand will lift prices.
My Take: There was a pop in inventory in the bottom quartile, 7 new units and no absorption, something to keep an eye on but given the median days on market, I’m not overly concerned.
🏡 Silver Spring, MD – Single-Family Homes
Median List Price: $690,000
Median Price of New Listings: $689,000
Price per Square Foot: $323
Average Days on Market: 43
Median Days on Market: 28
Price Decreased: 34%
Price Increased: 1%
Relisted: 11%
Inventory: 166
Median Rent: $3,100
Market Action Index: 54, strong seller’s market
Market Narrative: Sales and inventory are in stasis, yet demand holds the market firmly in seller territory.
My Take: Absorption met or exceeded supply in three tiers, and even the slowest segment sold in 31 days. That speed keeps the market hot.
🏢 Silver Spring, MD – Condos/Townhomes
Median List Price: $258,950
Median Price of New Listings: $340,000
Price per Square Foot: $244
Average Days on Market: 70
Median Days on Market: 42
Price Decreased: 38%
Price Increased: 2%
Relisted: 10%
Inventory: 164
Median Rent: $1,972
Market Action Index: 43, slight seller’s advantage
Market Narrative: Home sales outstrip supply and the index has trended higher for weeks. Continued strength could push prices up soon.
My Take: Two tiers outpaced listings, including the top quartile at 21 days on market. Lower tiers hovered around 42 to 84 days, producing a strong but mixed market.
Key Takeaways
Competition is up: 61% of new contracts had multiple offers.
Fewer waivers: Only 21% of buyers waived inspections down from 50 the previous week.
Price splits: 61% sold above list, 30% below.
Bethesda & Chevy Chase: Higher-end homes are sitting longer, especially above $2M.
Potomac: Fast moving market this week, with 16 absorptions and just 5 new listings.
Gaithersburg is the steadiest market this week: All four price tiers absorbed at or above supply, with homes under $900K selling in under 30 days.
Kensington, Gaithersburg & Silver Spring: Strong absorption in 3 of 4 price tiers, with homes often selling in under 30 days.
Looking Ahead
A small drop in mortgage rates could pull more buyers into segments above $900,000.
Germantown & Rockville condos: Sudden inventory spikes could slow down those segments next week.
Ready to Navigate This Shifting Market?
For Buyers: Market fragmentation creates opportunities for prepared buyers. Get strategic insights and early access: https://zenlist.com/a/corey.feldman
For Sellers: With some markets shifting to buyer's advantage, accurate pricing is critical. Get your data-driven market analysis: https://bit.ly/dcmetrocma
Questions about these evolving dynamics? Let's discuss your specific situation at 301-564-3058. Have a great day
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