How Much Is Your Single Family Home Worth in Kensington, Based on September 2016 Stats

In Kensington, MD, the median sold price for Detached properties for September was $440,000, representing a decrease of 35.3% compared to last month and a decrease of 12.9% from Sep 2015.

The average days on market for units sold in September was 53 days, 6% below the 5-year September average of 56 days. There was a 25% month over month decrease in new contract activity with
21 New Pendings; a 12.1% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 29; and a 35.9% increase in supply to 53 active units.

This activity resulted in a Contract Ratio of 0.55 pendings per active listing, down from 0.85 in August and an increase from 0.37 in September 2015. The Contract Ratio is 7% higher than the 5-year September average of 0.51.

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.