Kensington, MD Market Report – 05/22/13

23 May
May 23, 2013

20895 Kensington, MD.

All properties including Condos, Townhomes & Single Families.

Condo & Coop properties:
In 20895, the median sold price for Condo & Coop properties for April was $125,000, representing a decrease of 19.4% compared to last month and an increase of 0% from Apr 2012. The average days on market for units sold in April was 21 days, 42% below the 5-year April average of 36 days. There was a 100% month over month decrease in new contract activity with 0 New Pendings; a 20% Month to Month decrease in All Pendings (new contracts + contracts carried over from March) to 4; and a 66.7% increase in supply to 5 active units. This activity resulted in a Contract Ratio of 0.80 pendings per active listing, down from 1.67 in March and no change from April 2012. The Contract Ratio is 170% higher than the 5-year April average of 0.30. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Attached/Townhouse properties:
In 20895, the median sold price for Attached/Townhouse properties for April was $0, representing a decrease of 100% compared to last month and no change from Apr 2012. The average days on market for units sold in April was 0 days, 100% below the 5-year April average of 5 days. There was no month over month change in new contract activity with 0 New Pendings; no Month to Month change in All Pendings (new contracts + contracts carried over from March) with 0; and no change in supply with 1 active units. This activity resulted in a Contract Ratio of 0.00 pendings per active listing, no change from March and no change from April 2012. The Contract Ratio is 100% lower than the 5-year April average of 0.25. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Detached properties:
In 20895, the median sold price for Detached properties for April was $549,000, representing an increase of 24.3% compared to last month and an increase of 12% from Apr 2012. The average days on market for units sold in April was 37 days, 50% below the 5-year April average of 73 days. There was a 52.2% month over month increase in new contract activity with 35 New Pendings; a 24.4% Month to Month increase in All Pendings (new contracts + contracts carried over from March) to 51; and a 14.3% increase in supply to 32 active units. This activity resulted in a Contract Ratio of 1.59 pendings per active listing, no change from March and an increase from 0.87 in April 2012. The Contract Ratio is 100% higher than the 5-year April average of 0.79. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor. 

 

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$14,556,700

+74.73%

+66.33%

Closed Sales

26

+73.33%

+44.44%

Median Sold Price

$540,000

+10.2%

+25.87%

Avg Sold Price

$559,873

+0.8%

+15.15%

Avg Days on Market

37 days

-32.73%

-55.42%

Avg Sold to Orig List Ratio

98.11%

+3.28%

+1.01%

 

More about Kensington:
Kensington, Maryland began as a farming/agricultural community in the Rock Creek basin.  When the railroad arrived in Kensington, giving easy access to Washington, DC., it made it an easier commute and the area developed as a summer refuge.  The train station still stands & is in use today in what is the heart of the town.

The town of Kensington is in Montgomery County and is proud of its heritage and history.  Many of the magnificent Victorian homes are on the National Register of Historic Places and are included in a tour of homes each year.  Residents of Kensington are proud of their tree-lined streets, gardens and parks that are reminiscent of the town’s early years.  There are many small enclaves of homes ranging from large mansions to smaller cape cods and ranchers. 

Antique Row in Kensington is well known for its specialty shops.  Located along the railroad line it boasts a grocery and the town post office.  Several excellent restaurants are in this historic part of town. 

Although the town itself is less than one square mile, it is surrounded by the Montgomery County suburbs and is accessible to the county transportation system, which makes it a convenient place to live.  The town has its own mayor and although it relies on the county for some services, it does manage many of its own.

The headquarters of the Mormon Church is located in Kensington and its six spires can be seen high above the Capital Beltway near the Connecticut Avenue exit. 

Since 1894, Kensington has been a wonderful place to live and explore.  The residents of Kensington love the small town life with its unique shops and restaurants as well as the easy access to the Washington, Baltimore and Annapolis areas.

 

Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.

Search for homes in Kensington, and all of the DC Metro area: www.averyhess.com

 

 

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

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