If you’re getting déjà vu waking up to snow again, you’re not alone. This report is getting a late start because I had to shovel my way out to get ready for a closing this afternoon. Hopefully today marks the end of what’s been a brutal stretch of winter weather.
Last month’s storm, and cold front, almost certainly delayed some activity. Listings that would have hit the market sat on the shelf, and buyers who were ready to move paused. That means some of the inventory and absorption numbers you’ll see in this month’s data are likely playing catch-up. Keep that in mind as you read through the breakdowns below.
Now let’s dive into Montgomery County.
🏢 Bethesda, MD – Condos/Townhomes
Median List Price: $347,400
Median Price of New Listings: $499,990
Price Per Square Foot: $320
Average Days on Market: 82
Median Days on Market: 60
Price Decreased: 21%
Price Increased: 0%
Relisted: 9%
Inventory: 66
Median Rent: $2,947
MAI: 33 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,350,000 | New: 2 | Absorbed: 3 | DOM: 70
Q3: Median Price $407,500 | New: 1 | Absorbed: 0 | DOM: 52
Q2: Median Price $325,000 | New: 0 | Absorbed: 2 | DOM: 70
Q1: Median Price $239,000 | New: 2 | Absorbed: 1 | DOM: 56
Market Narrative: The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
My Take: While absorption slightly outpaced inventory, days on market continue to drag. While Altos calls it a slight sellers advantage, buyers have a lot of power; I would call it neutral to buyers market depending on neighborhood.
🏡 Bethesda, MD – Single-Family Homes
Median List Price: $2,272,000
Median Price of New Listings: $1,675,000
Price Per Square Foot: $478
Average Days on Market: 137
Median Days on Market: 84
Price Decreased: 18%
Price Increased: 3%
Relisted: 10%
Inventory: 60
Median Rent: $4,600
MAI: 44 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $4,497,000 | New: 1 | Absorbed: 1 | DOM: 147
Q3: Median Price $2,679,000 | New: 1 | Absorbed: 1 | DOM: 231
Q2: Median Price $1,850,000 | New: 3 | Absorbed: 2 | DOM: 28
Q1: Median Price $1,200,000 | New: 3 | Absorbed: 5 | DOM: 56
Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
My Take: Absorption is slightly outpacing inventory. Days on Market are painful in top half of the market, which I would call buyer leaning, while the lower half of the market still has a sellers advantage.
🏢 Chevy Chase, MD – Condos/Townhomes
Median List Price: $495,000
Median Price of New Listings: $405,000
Price Per Square Foot: $441
Average Days on Market: 100
Median Days on Market: 63
Price Decreased: 29%
Price Increased: 0%
Relisted: 9%
Inventory: 55
Median Rent: $2,650
MAI: 33 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,274,000 | New: 1 | Absorbed: 2 | DOM: 38
Q3: Median Price $649,500 | New: 0 | Absorbed: 1 | DOM: 94
Q2: Median Price $379,500 | New: 2 | Absorbed: 0 | DOM: 70
Q1: Median Price $260,000 | New: 1 | Absorbed: 2 | DOM: 91
Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
My Take: Absorption is slightly outpacing inventory but DOM is dragging everywhere. Altos has this as a seller market but with some exceptions, I’m calling this, and most apartments inside the beltway, a buyers advantage.
🏡 Chevy Chase, MD – Single-Family Homes
Median List Price: $2,645,000
Median Price of New Listings: $3,295,000
Price Per Square Foot: $549
Average Days on Market: 155
Median Days on Market: 137
Price Decreased: 25%
Price Increased: 0%
Relisted: 13%
Inventory: 16
Median Rent: $5,275
MAI: 49 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $3,775,000 | New: 1 | Absorbed: 2 | DOM: 28
Q3: Median Price $2,897,500 | New: 1 | Absorbed: 1 | DOM: 339
Q2: Median Price $1,848,500 | New: 0 | Absorbed: 1 | DOM: 91
Q1: Median Price $1,249,500 | New: 1 | Absorbed: 1 | DOM: 154
Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
My Take: Interesting to see some movement in the top Q4 with a median price of $3,775,000. We had 1 new and two absorbed with Days on Market coming at 28 days. Altos calls this a seller’s market but I’d say it’s a buyer market with carve-outs for well positions homes in popular neighborhoods.
🏢 Clarksburg, MD – Condos/Townhomes
Median List Price: $525,000
Median Price of New Listings: $442,500
Price Per Square Foot: $275
Average Days on Market: 103
Median Days on Market: 39
Price Decreased: 25%
Price Increased: 15%
Relisted: 5%
Inventory: 20
Median Rent: $2,800
MAI: 39 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $623,990 | New: 0 | Absorbed: 0 | DOM: 28
Q3: Median Price $575,000 | New: 1 | Absorbed: 0 | DOM: 21
Q2: Median Price $509,000 | New: 0 | Absorbed: 0 | DOM: 133
Q1: Median Price $427,000 | New: 1 | Absorbed: 0 | DOM: 49
Market Narrative: The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
My Take: Last month I said “Three new units in the top two quartiles and only one absorption in Q2, around the 500K mark. Excellent opportunities for buyers. Sellers, price tight and make sure your home stands out.” This week I would say the same given we has two new and zero absorbed.
🏡 Clarksburg, MD – Single-Family Homes
Median List Price: $929,000
Median Price of New Listings: $0
Price Per Square Foot: $223
Average Days on Market: 71
Median Days on Market: 77
Price Decreased: 40%
Price Increased: 20%
Relisted: 20%
Inventory: 5
Median Rent: $3,200
MAI: 44 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,237,250 | New: 0 | Absorbed: 0 | DOM: 94
Q3: Median Price $929,000 | New: 0 | Absorbed: 0 | DOM: 77
Q2: Median Price $919,900 | New: 0 | Absorbed: 0 | DOM: 7
Q1: Median Price $730,000 | New: 0 | Absorbed: 0 | DOM: 84
Market Narrative: The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
My Take: Nothing new and nothing absorbed. Last month we had “Inventory is extremely low, just 5 homes. One absorption and no new units. But be careful with pricing. Days on market have been stretching across the board.” With the same 5 units on the market, buyers have the advantage.
🏢 Gaithersburg, MD – Condos/Townhomes
Median List Price: $405,000
Median Price of New Listings: $399,000
Price Per Square Foot: $273
Average Days on Market: 76
Median Days on Market: 56
Price Decreased: 17%
Price Increased: 0%
Relisted: 8%
Inventory: 71
Median Rent: $2,099
MAI: 46 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $659,995 | New: 1 | Absorbed: 5 | DOM: 45
Q3: Median Price $459,450 | New: 3 | Absorbed: 2 | DOM: 73
Q2: Median Price $254,500 | New: 3 | Absorbed: 1 | DOM: 42
Q1: Median Price $185,000 | New: 2 | Absorbed: 3 | DOM: 56
Market Narrative: In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
My Take: Absorption is outpacing inventory, though not as strong has last month. Neighborhood and condition matter but this is a sellers markets.
🏡 Gaithersburg, MD – Single-Family Homes
Median List Price: $830,000
Median Price of New Listings: $694,949
Price Per Square Foot: $304
Average Days on Market: 114
Median Days on Market: 49
Price Decreased: 29%
Price Increased: 0%
Relisted: 10%
Inventory: 31
Median Rent: $2,900
MAI: 49 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,724,500 | New: 0 | Absorbed: 0 | DOM: 231
Q3: Median Price $994,900 | New: 0 | Absorbed: 1 | DOM: 52
Q2: Median Price $712,450 | New: 3 | Absorbed: 2 | DOM: 28
Q1: Median Price $550,000 | New: 1 | Absorbed: 1 | DOM: 21
Market Narrative: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
My Take: Absorption vs new inventory is a wash. Days on Market are healthy in Q1 & Q2. Expect inventory to increase significantly by next month, so sellers make sure your home stands out.
🏢 Germantown, MD – Condos/Townhomes
Median List Price: $349,000
Median Price of New Listings: $429,900
Price Per Square Foot: $266
Average Days on Market: 66
Median Days on Market: 53
Price Decreased: 31%
Price Increased: 9%
Relisted: 7%
Inventory: 54
Median Rent: $2,050
MAI: 47 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $510,000 | New: 4 | Absorbed: 3 | DOM: 7
Q3: Median Price $379,000 | New: 3 | Absorbed: 2 | DOM: 21
Q2: Median Price $299,999 | New: 1 | Absorbed: 6 | DOM: 80
Q1: Median Price $237,500 | New: 1 | Absorbed: 1 | DOM: 77
Market Narrative: The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
My Take: Absorption is still outpacing inventory, and in the top half of the market we are seeing a drop in days on Market. I would also expect to see days on market for Q2: Median Price $299,000 drop next month given in the last two months we have seen 9 units absorbed and only one new unit hit the market. This is solidly a sellers market.
🏡 Germantown, MD – Single-Family Homes
Median List Price: $825,000
Median Price of New Listings: $955,000
Price Per Square Foot: $245
Average Days on Market: 87
Median Days on Market: 84
Price Decreased: 50%
Price Increased: 0%
Relisted: 6%
Inventory: 16
Median Rent: $2,400
MAI: 44 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,549,500 | New: 1 | Absorbed: 0 | DOM: 154
Q3: Median Price $893,500 | New: 2 | Absorbed: 0 | DOM: 10
Q2: Median Price $732,450 | New: 1 | Absorbed: 0 | DOM: 73
Q1: Median Price $604,450 | New: 0 | Absorbed: 0 | DOM: 119
Market Narrative: The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
My Take: Last month I said “Inventory is sparse, just 12 units. No new inventory and 5 absorbed, though the absorption likely reflects low supply more than strong demand. Days on market have been long, so careful pricing and presentation matter.” This week we had four new units hit the market but none absorbed. Disconcerting direction for sellers but if we see the reverse trend next month, it might be safe to consider it a neutral market.
🏡 Kensington, MD – Single-Family Homes
Median List Price: $944,900
Median Price of New Listings: $1,200,000
Price Per Square Foot: $394
Average Days on Market: 124
Median Days on Market: 77
Price Decreased: 22%
Price Increased: 0%
Relisted: 13%
Inventory: 23
Median Rent: $3,400
MAI: 43 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,722,000 | New: 0 | Absorbed: 2 | DOM: 168
Q3: Median Price $1,200,000 | New: 4 | Absorbed: 1 | DOM: 0
Q2: Median Price $864,950 | New: 1 | Absorbed: 1 | DOM: 136
Q1: Median Price $659,000 | New: 2 | Absorbed: 0 | DOM: 70
Market Narrative: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
My Take: Inventory is outpacing absorption 7 to 4. Careful pricing and presentation required for sellers. Buyers, you have some opportunities to negotiate especially if inventory pops significantly next month.
🏡 Poolesville, MD – Single-Family Homes
Median List Price: $1,357,000
Median Price of New Listings: $0
Price Per Square Foot: $371
Average Days on Market: 307
Median Days on Market: 203
Price Decreased: 14%
Price Increased: 0%
Relisted: 0%
Inventory: 7
Median Rent: $3,028
MAI: 34 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $4,865,752 | New: 0 | Absorbed: 0 | DOM: 332
Q3: Median Price $1,554,505 | New: 0 | Absorbed: 0 | DOM: 301
Q2: Median Price $1,094,995 | New: 0 | Absorbed: 0 | DOM: 339
Q1: Median Price $315,000 | New: 0 | Absorbed: 0 | DOM: 203
Market Narrative: Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
My Take: Last month I said “Low inventory and long days on market. Altos labels it a slight seller's advantage, but let's be real, this is a buyer's market.” No change this month!
🏡 Potomac, MD – Single-Family Homes
Median List Price: $1,797,450
Median Price of New Listings: $1,595,000
Price Per Square Foot: $372
Average Days on Market: 72
Median Days on Market: 39
Price Decreased: 31%
Price Increased: 3%
Relisted: 13%
Inventory: 32
Median Rent: $4,500
MAI: 57 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $4,450,000 | New: 0 | Absorbed: 0 | DOM: 56
Q3: Median Price $2,322,500 | New: 2 | Absorbed: 1 | DOM: 42
Q2: Median Price $1,572,500 | New: 2 | Absorbed: 5 | DOM: 31
Q1: Median Price $1,183,000 | New: 1 | Absorbed: 1 | DOM: 49
Market Narrative: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
My Take: Absorption continues to outpace inventory, good for sellers, especially under the 1.57 million mark. That said, pricing matters! While I am not expecting to see a price decline in either Q1 or Q2, I’m expecting pricing to be similar to 2025.
🏢 Rockville, MD – Condos/Townhomes
Median List Price: $436,000
Median Price of New Listings: $298,500
Price Per Square Foot: $331
Average Days on Market: 92
Median Days on Market: 70
Price Decreased: 26%
Price Increased: 2%
Relisted: 12%
Inventory: 133
Median Rent: $2,445
MAI: 37 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $958,881 | New: 0 | Absorbed: 3 | DOM: 84
Q3: Median Price $600,000 | New: 5 | Absorbed: 5 | DOM: 35
Q2: Median Price $324,900 | New: 5 | Absorbed: 3 | DOM: 98
Q1: Median Price $230,000 | New: 6 | Absorbed: 1 | DOM: 84
Market Narrative: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
My Take: Days on market are running long but coming down in most quartiles and new inventory outpaced absorption slowed. If you're selling, presentation matters. Make your home stand out to bring down days on market and maximize your return.
🏡 Rockville, MD – Single-Family Homes
Median List Price: $880,000
Median Price of New Listings: $649,990
Price Per Square Foot: $387
Average Days on Market: 112
Median Days on Market: 53
Price Decreased: 30%
Price Increased: 0%
Relisted: 7%
Inventory: 30
Median Rent: $3,450
MAI: 55 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,962,449 | New: 0 | Absorbed: 0 | DOM: 70
Q3: Median Price $1,050,000 | New: 1 | Absorbed: 4 | DOM: 140
Q2: Median Price $749,945 | New: 4 | Absorbed: 2 | DOM: 42
Q1: Median Price $564,990 | New: 2 | Absorbed: 4 | DOM: 14
Market Narrative: The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
My Take: Last month I said “Inventory is low enough that absorption is staying strong, even with stretched DOM. Sellers who want to beat the average need to stand out.” then we had only 3 new home hit the market and 10 absorbed. This month another 10 were absorbed but we had 7 units hit the market. Standing out matters more than ever, especially as inventory will likely rise over the next month.
🏢 Silver Spring, MD – Condos/Townhomes
Median List Price: $257,000
Median Price of New Listings: $265,000
Price Per Square Foot: $240
Average Days on Market: 88
Median Days on Market: 63
Price Decreased: 32%
Price Increased: 0%
Relisted: 10%
Inventory: 172
Median Rent: $1,931
MAI: 38 (Slight Seller’s Advantage Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $465,000 | New: 3 | Absorbed: 13 | DOM: 56
Q3: Median Price $300,000 | New: 6 | Absorbed: 5 | DOM: 28
Q2: Median Price $229,000 | New: 3 | Absorbed: 5 | DOM: 91
Q1: Median Price $160,000 | New: 3 | Absorbed: 3 | DOM: 77
Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
My Take: My take last month was “Plenty of choice for buyers here and it's showing in longer days on market. That said, absorption is ahead of inventory. Standing out matters.” No change to that assessment.
🏡 Silver Spring, MD – Single-Family Homes
Median List Price: $675,000
Median Price of New Listings: $682,450
Price Per Square Foot: $295
Average Days on Market: 96
Median Days on Market: 70
Price Decreased: 39%
Price Increased: 0%
Relisted: 10%
Inventory: 89
Median Rent: $3,000
MAI: 50 (Strong Seller’s Market Weekly Market Monitor RLAH)
Quartile Breakdown:
Q4: Median Price $1,149,000 | New: 3 | Absorbed: 0 | DOM: 105
Q3: Median Price $722,450 | New: 5 | Absorbed: 8 | DOM: 63
Q2: Median Price $638,700 | New: 4 | Absorbed: 7 | DOM: 84
Q1: Median Price $519,900 | New: 4 | Absorbed: 8 | DOM: 38
Market Narrative: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
My Take: Last month I said “January inventory is solid here. Plenty of buyer choice is slowing the pace, but absorption is beating inventory. Pricing should stay fairly flat compared to 2025.” I still hold the same position on pricing but for an upcoming listing in Kemp Mill, I am quite happy to see an increase in absorption to inventory this month.
A few key takeaways:
The strongest absorption is happening under $700K in the single family home market, regardless of geography. Silver Spring, Germantown, Gaithersburg, and Rockville are all seeing solid movement at that price point. If you’re selling in that range, you still have leverage, but don’t get greedy.
Inside the Beltway, condos are leaning toward buyers despite what the MAI suggests. Inventory is up, DOM is long, and sellers need to price sharp.
At the top of the market, activity is stagnant. Most single-family top quartiles saw zero or minimal absorption this month. If you’re listing luxury, preparation and pricing aren’t optional; they’re everything.
Ready to make a move?
Selling? Get a pricing plan and a clear next step. Free home valuation here: https://feldmangroupre.com/home-valuation.html
Buying? Set up real time MLS alerts on Zenlist: https://zenlist.com/a/corey.feldman
Not seeing what you want on the MLS? RLAH has the largest off market database in the DC metro. Text me “OFF MARKET” + your zip codes: 301-564-3058. If you happen to be looking in Kemp Mill (Silver Spring), or Fox Hills West (Potomac), or The Promenade (Bethesda) I have some inside information.
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