\Welcome to the weekend market pulse.

As predicted, the market returned to competitive conditions.Competition increased from 1.0 to 1.3 average offers per new contract, with 44% of deals coming in above list price compared to zero the previous week.

Buyers shifted back toward traditional inspection approaches. Only 25% waived inspections entirely, down from 44% during the holiday period.

69% of offers at or above list confirms competitive dynamics returned, next week should be telling in regards to the remainder of summer

No Market Monday this week, but text me at 301-564-3058 with any questions. I’ll be back next week with full community analysis.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Happy Monday everyone, hope everyone had a fantastic weekend! I'll be adding a new section to Market Monday called Hidden Inventory. Through our access to Compass's off-market network and RLAH's existing private listing collection, we have access to the largest number of off-market properties in the DC Metro area.

This week's data (as of July 13) shows the market continuing its post-holiday recalibration. Our Weekend Market Pulse data confirmed the expected holiday slowdown with reduced competition and more realistic pricing, followed by signs of activity normalization. With most MAI numbers holding steady or dropping slightly, we're seeing the emergence of more defined absorption patterns that reveal where buyer resistance is crystallizing.

The market dynamics suggest continued price discovery across segments, with specific thresholds becoming increasingly apparent in both condo and single-family segments. While overall conditions remain in seller's market territory, the granular data tells a more nuanced story.

Hidden Inventory

Before we get into the Altos breakdown of the MLS data, let's highlight some hidden inventory. Through our access to Compass's off-market network and RLAH's existing private listing collection, we have access to the largest number of off-market properties in the DC Metro area. Approximately in…Bethesda: 17 well 16, I just put a buyer under contract on of these homes. Chevy Chase: 13Gaithersburg & North Potomac: 8Germantown: 6Kensington: 6Potomac: 6Rockville & North Bethesda: 20 Silver Spring: 25Given Zillow is actively blocking any listings that start off-market, you might never see some of the best opportunities there. Want to know what's actually available? Reach out and I'll fill you in.

Community Data

🏡 Bethesda, MD – Single-Family Homes

Median List Price: $2,093,500Median Price of New Listings: $2,147,000Price Per Square Foot: $441Average Days on Market: 76Median Days on Market: 42Price Decreased: 37%Price Increased: 2%Relisted: 17%Inventory: 156Median Rent: $5,300MAI: 40 (Slight Seller's Advantage)

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, though the market is still in the Seller's zone.

My Take: The luxury segment (Q1: $3.575M median) is showing the most resistance with 91 DOM, while the entry tier (Q4: $1.195M) moves quickly at 21 DOM. The 37% price reduction rate signals sellers are adjusting expectations, yet absorption exceeds inventory in lower two quartiles. The bottom quartile at a median price of $1,195,000 shows strength: 21 days on market, 6 new units and 7 absorbed.

🏢 Bethesda, MD – Condos/Townhomes

Median List Price: $415,000Median Price of New Listings: $399,000Price Per Square Foot: $345Average Days on Market: 46Median Days on Market: 35Price Decreased: 41%Price Increased: 0%Relisted: 6%Inventory: 51Median Rent: $3,050MAI: 40 (Slight Seller's Advantage)

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.

My Take: Absorption is meeting or beating inventory in all 4 quartiles. Days on Market for 2 bedroom units are lagging.

🏡 Chevy Chase, MD – Single-Family Homes

Median List Price: $2,195,000Median Price of New Listings: $1,149,000Price Per Square Foot: $529Average Days on Market: 103Median Days on Market: 42Price Decreased: 37%Price Increased: 0%Relisted: 12%Inventory: 49Median Rent: $4,950MAI: 39 (Slight Seller's Advantage)

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 despite technically being a Seller's market.

My Take: The ultra-high-end (Q1: $4.25M) is completely stalled with 154 DOM and zero absorption, while the bottom quartile ($1.272M) maintains momentum with 1 new unit and 1 absorbed, with 21 days on market. While no new properties hit the second lowest quartile with a median price of $1,996,000, two units were absorbed. Basically the bottom half is moving and the top half is stalled.

🏢 Chevy Chase, MD – Condos/Townhomes

Median List Price: $462,000Median Price of New Listings: $374,000Price Per Square Foot: $413Average Days on Market: 84Median Days on Market: 56Price Decreased: 39%Price Increased: 0%Relisted: 12%Inventory: 74Median Rent: $2,640MAI: 31 (Slight Seller's Advantage)

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.

My Take: At MAI 31, this is the softest market in our coverage area, yet I am seeing signs of strength at least compared to the limited inventory. Only 1 unit added and 3 absorbed, 1 in each of the lower 3 quartiles.

🏡 Gaithersburg, MD – Single-Family Homes

Median List Price: $853,850Median Price of New Listings: $785,000Price Per Square Foot: $274Average Days on Market: 63Median Days on Market: 42Price Decreased: 36%Price Increased: 2%Relisted: 14%Inventory: 108Median Rent: $3,200MAI: 44 (Slight Seller's Advantage)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Gaithersburg has been a fairly hot market but we might be seeing some early signs of weakness. Across all quartiles we had 18 new units but only 7 absorbed.

🏢 Gaithersburg, MD – Condos/Townhomes

Median List Price: $479,900Median Price of New Listings: $534,700Price Per Square Foot: $294Average Days on Market: 42Median Days on Market: 21Price Decreased: 35%Price Increased: 2%Relisted: 8%Inventory: 89Median Rent: $2,263MAI: 55 (Strong Seller's Market)

Market Narrative: The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller's Market zone and prices have been moving upward.

My Take: Seeing healthy days on market but I’m a little troubled by the limited absorption in the middle two quartiles. Could be a short lived lull from a pop in inventory, but the next couple of weeks will be telling.

🏡 Germantown, MD – Single-Family Homes

Median List Price: $799,990Median Price of New Listings: $676,950Price Per Square Foot: $272Average Days on Market: 48Median Days on Market: 28Price Decreased: 32%Price Increased: 0%Relisted: 20%Inventory: 41Median Rent: $2,573MAI: 44 (Slight Seller's Advantage)

Market Narrative: The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in MAI, we're in a Seller's Market.

My Take: Days on Market for the bottom two quartiles are healthy but inventory is outpacing absorption which if continues will likely put downward pressure on pricing.

🏢 Germantown, MD – Condos/Townhomes

Median List Price: $365,000Median Price of New Listings: $475,000Price Per Square Foot: $263Average Days on Market: 42Median Days on Market: 21Price Decreased: 36%Price Increased: 3%Relisted: 5%Inventory: 91Median Rent: $2,023MAI: 51 (Strong Seller's Market)

Market Narrative: The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone.

My Take: I see more strength here than Altos. Healthy Days on Market and while 10 new properties hit the market, 17 were absorbed.

🏡 Kensington, MD – Single-Family Homes

Median List Price: $1,150,000Median Price of New Listings: $1,164,500Price Per Square Foot: $356Average Days on Market: 60Median Days on Market: 39Price Decreased: 28%Price Increased: 0%Relisted: 8%Inventory: 40Median Rent: $4,200MAI: 47 (Strong Seller's Market)

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: Tight inventory creates strong dynamics. The top and bottom quartiles are showing strength and met or exceeded inventory. Only 1 new property hit the market and 7 were absorbed. With such limited inventory if you're looking in this area, I would recommend looking at some Off Market/Private exclusive listings.

🏡 Poolesville, MD – Single-Family Homes

Median List Price: $925,000Median Price of New Listings: $725,000Price Per Square Foot: $291Average Days on Market: 109Median Days on Market: 42Price Decreased: 31%Price Increased: 0%Relisted: 0%Inventory: 13Median Rent: $3,250MAI: 35 (Slight Seller's Advantage)

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.

My Take: The most constrained inventory in our coverage area at just 13 homes, yet showing the softest MAI at 35. Ultra-luxury segment (Q1: $1.337M) extremely slow at 182 DOM with minimal absorption, while even entry-level properties struggle. This micro-market requires aggressive pricing strategies for sellers and presents unique opportunities for patient buyers.

🏡 Potomac, MD – Single-Family Homes

Median List Price: $1,795,000Median Price of New Listings: $1,382,500Price Per Square Foot: $361Average Days on Market: 87Median Days on Market: 49Price Decreased: 32%Price Increased: 0%Relisted: 12%Inventory: 69Median Rent: $5,000MAI: 44 (Slight Seller's Advantage)

Market Narrative: The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit despite technically being a Seller's market.

My Take: The bottom two quartiles $1,175,000 median price to $1,475,000 are showing significant strength. Absorption met or exceeded inventory and Days on Market are sitting between 21-35 which is very healthy. Unsurprisingly days on market at the median price of $3,497,500 move slowly but that top quartile absorbed 2 while only adding one new unit. The weakest segment is at the $1,895,000 mark with 2 new units but only 1 absorbed and Days on Market are running long at 49. Given the days on market and absorption rate, combined with relatively low inventory, If you're not finding next home, make sure to look at private exclusives.

🏡 Rockville, MD – Single-Family Homes

Median List Price: $749,000Median Price of New Listings: $685,000Price Per Square Foot: $342Average Days on Market: 50Median Days on Market: 28Price Decreased: 44%Price Increased: 0%Relisted: 10%Inventory: 79Median Rent: $3,500MAI: 54 (Strong Seller's Market)

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 have been falling recently despite being a Seller's market.

My Take: This is healthy market with a solid sellers advantage. 13 units added and 18 absorbed. with low days on market in 3 of 4 quartiles.

🏢 Rockville, MD – Condos/Townhomes

Median List Price: $452,500Median Price of New Listings: $450,000Price Per Square Foot: $338Average Days on Market: 68Median Days on Market: 42Price Decreased: 39%Price Increased: 1%Relisted: 10%Inventory: 150Median Rent: $2,561MAI: 41 (Slight Seller's Advantage)

Market Narrative: The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks.

My Take: This market is a bit more balanced than the single family market, with more opportunities for buyers. 16 new units and 12 absorbed and Days on Market are creeping up.

🏡 Silver Spring, MD – Single-Family Homes

Median List Price: $695,000Median Price of New Listings: $699,900Price Per Square Foot: $319Average Days on Market: 47Median Days on Market: 21Price Decreased: 36%Price Increased: 0%Relisted: 8%Inventory: 182Median Rent: $3,200MAI: 52 (Strong Seller's Market)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Strong absorption across most price points signals genuine demand depth. The second highest quartile with a median price of $745,000 is likely the biggest challenge here: 10 homes hit the market but only 1 was absorbed. That said overall 29 units hit the market and 25 were absorbed with relatively low days on market. I think buyers have a bit more buying power than the MAI would indicate.

🏢 Silver Spring, MD – Condos/Townhomes

Median List Price: $262,000Median Price of New Listings: $314,750Price Per Square Foot: $245Average Days on Market: 72Median Days on Market: 49Price Decreased: 38%Price Increased: 1%Relisted: 8%Inventory: 164Median Rent: $1,975MAI: 44 (Slight Seller's Advantage)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Entry-level opportunity with strong rental yields. The premium segment (Q1: $479K) shows excellent momentum while lower tiers require patience. Absorption overall outpaced inventory.

Key Takeaways.

* Entry-Level Resilience vs. Mid-Tier Vulnerability: Bottom quartiles maintaining momentum across premium markets (Bethesda SF bottom quartile: 6 new, 7 absorbed at 21 DOM), while specific price points like Silver Spring's $745K segment (10 new, 1 absorbed) and the $500K threshold in multiple condo/Townhouse markets showing absorption challenges.

* Aspirational Pricing vs. True Weakness: High price decrease rates in strong absorption markets (Rockville SF: 44% decreases but beating inventory in all quartiles) reflect seller pricing discipline rather than demand weakness, contrasting with genuine stagnation in ultra-luxury segments (Chevy Chase Q1: 0 absorption, 154 DOM).

* Market Bifurcation at Community Level: Even within individual communities, stark performance splits emerging - Potomac's bottom two quartiles showing exceptional strength while $1.895M segment struggles, and Chevy Chase's clear division between moving bottom half and stalled top half.

The data reveals a market where absorption capacity varies dramatically by precise price points rather than broad market classifications, requiring hyper-local pricing strategies and indicating buyers are becoming increasingly selective within their qualified ranges.

Looking Ahead

Watch for the $500K threshold across multiple communities in the condo/townhome market as a potential inflection point for buyer resistance.

Gaithersburg SF's early weakness signals (18 new, 7 absorbed) may preview broader market shifts in previously hot areas.

Aspirational pricing corrections in strong absorption markets like Rockville suggest sellers are adjusting expectations without fundamental demand erosion.

The bifurcated performance within communities indicates pricing precision will become increasingly critical through summer.

Ready to Move?

For Buyers: Start with real-time MLS search: https://zenlist.com/a/corey.feldman. Not seeing what you want in the open market? In tight inventory markets like Kensington and Potomac, reach out about private exclusives.

For Sellers: Avoid aspirational pricing that leads to unnecessary reductions. Get your data-driven market analysis: https://bit.ly/dcmetrocma

Questions about private exclusives or these market dynamics? Let's discuss your specific situation at 301-564-3058. Here's to a productive week ahead!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Holiday impact confirmed in our brokerage data. Competition dropped - average offers fell from 1.2 to 1.0 per new contract, with zero deals above list price.

Pricing reality set in: 78% of contracts hit exact list price, 22% below.

Meanwhile, 44% of buyers waived inspections entirely, up from 12% last week. The buyers who stayed active during the holiday period were highly decisive.

Classic holiday pause - fewer offers, realistic pricing. Watch for a slight rebound next week.

Questions about these market dynamics? Reach out at 301-564-3058 and stay tuned for Market Monday. Have a spectacular weekend!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Good morning! I hope everyone had a happy and safe 4th of July weekend.

Our Weekend Market Pulse (covering June 25 - July 2, ending two days before the holiday) showed competitive conditions with buyer opportunities:

* An average of 1.2 offers with 50% of new contract reaching multiple offers.

* 25% of buyers waiving inspections (12% skipping entirely, 13% doing pre-inspections)

* 50% of contracts at or above list price

My take on the holiday impact: Since our brokerage market pulse data ended two days before the 4th of July, any holiday impact isn't reflected in these numbers. I think next week's numbers will show a decline for this past holiday weekend - anecdotally, my personal business was slow enough that I got a lot of family time in this weekend. We did ratify an off-market deal but that had been two weeks in the making. I also expect next weeks’ activity to rebound to close to what we had for the June 25 - July 2 period, though that rebound won't be reflected in the data until the following week.

As usual competitive intensity and pricing pressure vary significantly by location and price segment.

Community Data

🏡 Bethesda, MD – Single-Family Homes

Median List Price: $2,093,500Median Price of New Listings: $2,147,000Price Per Square Foot: $441Average Days on Market: 76Median Days on Market: 42Price Decreased: 37%Price Increased: 2%Relisted: 17%Inventory: 156Median Rent: $5,300MAI: 40 (Slight Seller's Advantage)

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, though the market is still in the Seller's zone.

My Take: The luxury segment (Q1: $3.575M median) is showing the most resistance with 91 DOM, while the entry tier (Q4: $1.195M) moves quickly at 21 DOM. The 37% price reduction rate signals sellers are adjusting expectations, yet absorption remains exceeds inventory in lower two quartiles. The bottom quartile at a medium price of $1,195,000 show strength; 21 days on market, 6 new units and 7 absorbed.

🏢 Bethesda, MD – Condos/Townhomes

Median List Price: $415,000Median Price of New Listings: $399,000Price Per Square Foot: $345Average Days on Market: 46Median Days on Market: 35Price Decreased: 41%Price Increased: 0%Relisted: 6%Inventory: 51Median Rent: $3,050MAI: 40 (Slight Seller's Advantage)

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.

My Take: inventory generally outpacing absorption, good chance as well move deeper into the summer this dips into the buyer advantage zone.

🏡 Chevy Chase, MD – Single-Family Homes

Median List Price: $2,195,000Median Price of New Listings: $1,149,000Price Per Square Foot: $529Average Days on Market: 103Median Days on Market: 42Price Decreased: 37%Price Increased: 0%Relisted: 12%Inventory: 49Median Rent: $4,950MAI: 39 (Slight Seller's Advantage)

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 despite technically being a Seller's market.

My Take: The ultra-high-end (Q1: $4.25M) is completely stalled with 154 DOM and zero absorption, while the bottom quartile ($1.272M) maintains momentum with 1 new unit and 1 absorbed, with 21 days on market. While no new properties hit the second lowest quartile with a medium price of $1,996,000, two unit were absorbed. Basically the bottom half is moving and the top half is stalled.

🏢 Chevy Chase, MD – Condos/Townhomes

Median List Price: $462,000Median Price of New Listings: $374,000Price Per Square Foot: $413Average Days on Market: 84Median Days on Market: 56Price Decreased: 39%Price Increased: 0%Relisted: 12%Inventory: 74Median Rent: $2,640MAI: 31 (Slight Seller's Advantage)

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.

My Take: At MAI 31, this is the softest market in our coverage area, yet I am seeing signs of strength. The luxury segment (Q1: $1.295M) is surprising. healthy, but mid-range units struggle. The 84-day average DOM suggests patience is required, particularly for anything over $500K.

🏡 Gaithersburg, MD – Single-Family Homes

Median List Price: $853,850Median Price of New Listings: $785,000Price Per Square Foot: $274Average Days on Market: 63Median Days on Market: 42Price Decreased: 36%Price Increased: 2%Relisted: 14%Inventory: 108Median Rent: $3,200MAI: 44 (Slight Seller's Advantage)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Gaithersburg has been a fairly hot market but we might be seeing some early signs of weakness. Across all quartiles we had 18 new units but only 7 absorbed.

🏢 Gaithersburg, MD – Condos/Townhomes

Median List Price: $479,900Median Price of New Listings: $534,700Price Per Square Foot: $294Average Days on Market: 42Median Days on Market: 21Price Decreased: 35%Price Increased: 2%Relisted: 8%Inventory: 89Median Rent: $2,263MAI: 55 (Strong Seller's Market)

Market Narrative: The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller's Market zone and prices have been moving upward.

My Take: This is our strongest condo/townhome market with MAI 55. All quartiles showing excellent velocity 21-28 Days on Market. The upward price trajectory and 21-day median DOM signal genuine strength. This is a hot market with 14 new unit and 20 absorbed.

🏡 Germantown, MD – Single-Family Homes

Median List Price: $799,990Median Price of New Listings: $676,950Price Per Square Foot: $272Average Days on Market: 48Median Days on Market: 28Price Decreased: 32%Price Increased: 0%Relisted: 20%Inventory: 41Median Rent: $2,573MAI: 44 (Slight Seller's Advantage)

Market Narrative: The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in MAI, we're in a Seller's Market.

My Take: Limited inventory creates opportunity. The luxury segment (Q1: $1.8M) commands premium pricing but moves slowly, while the entry tier (Q4: $582K) shows excellent velocity at 7 DOM. The 20% relist rate and 32% price decreases suggests some pricing discipline is needed.

🏢 Germantown, MD – Condos/Townhomes

Median List Price: $365,000Median Price of New Listings: $475,000Price Per Square Foot: $263Average Days on Market: 42Median Days on Market: 21Price Decreased: 36%Price Increased: 3%Relisted: 5%Inventory: 91Median Rent: $2,023MAI: 51 (Strong Seller's Market)

Market Narrative: The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone.

My Take: The Second highest quartile at a medium price of $435,000 is showing strength and absorption, but overall I’m concerned to see 15 units hit the market but only 9 being absorbed. We might be seeing early sign of weakness at about the 500K mark.

🏡 Kensington, MD – Single-Family Homes

Median List Price: $1,150,000Median Price of New Listings: $1,164,500Price Per Square Foot: $356Average Days on Market: 60Median Days on Market: 39Price Decreased: 28%Price Increased: 0%Relisted: 8%Inventory: 40Median Rent: $4,200MAI: 47 (Strong Seller's Market)

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: Tight inventory creates strong dynamics. The top and bottom quartiles are showing strength and met or exceed inventory. Absorption on the two middle quartiles did not keep up with inventory.

🏡 Poolesville, MD – Single-Family Homes

Median List Price: $925,000Median Price of New Listings: $725,000Price Per Square Foot: $291Average Days on Market: 109Median Days on Market: 42Price Decreased: 31%Price Increased: 0%Relisted: 0%Inventory: 13Median Rent: $3,250MAI: 35 (Slight Seller's Advantage)

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.

My Take: The most constrained inventory in our coverage area at just 13 homes, yet showing the softest MAI at 35. Ultra-luxury segment (Q1: $1.337M) completely stalled at 182 DOM with minimal absorption, while even entry-level properties struggle. This micro-market requires aggressive pricing strategies for sellers and presents unique opportunities for patient buyers.

🏡 Potomac, MD – Single-Family Homes

Median List Price: $1,795,000Median Price of New Listings: $1,382,500Price Per Square Foot: $361Average Days on Market: 87Median Days on Market: 49Price Decreased: 32%Price Increased: 0%Relisted: 12%Inventory: 69Median Rent: $5,000MAI: 44 (Slight Seller's Advantage)

Market Narrative: The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit despite technically being a Seller's market.

My Take: The bottom two quartile $1,175,000 medium price to 1,475,000 are showing significant strength. Absorption met or exceeded inventory and Days on Market are sitting between 21-35 which is very healthy. Unsurprisingly days on market at the medium price of $3,497,500 move slowly but that top quartile absorbed 2 while only adding one new unit. The weakest segment is at $1,895,000 mark with 2 new units but only 1 absorbed and Days on Market are running long at 49.

🏡 Rockville, MD – Single-Family Homes

Median List Price: $749,000Median Price of New Listings: $685,000Price Per Square Foot: $342Average Days on Market: 50Median Days on Market: 28Price Decreased: 44%Price Increased: 0%Relisted: 10%Inventory: 79Median Rent: $3,500MAI: 54 (Strong Seller's Market)

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 have been falling recently despite being a Seller's market.

My Take: I think the price decreases here are mostly due aspirational pricing. This is a healthy market with 13 new units being and 18 absorbed, beating inventory in each quartile.

🏢 Rockville, MD – Condos/Townhomes

Median List Price: $452,500Median Price of New Listings: $450,000Price Per Square Foot: $338Average Days on Market: 68Median Days on Market: 42Price Decreased: 39%Price Increased: 1%Relisted: 10%Inventory: 150Median Rent: $2,561MAI: 41 (Slight Seller's Advantage)

Market Narrative: The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks.

My Take: Largest inventory in our condo coverage at 150 units provides good selection. All quartiles showing impressive absorption with acceptable DOM. As with the Rockville single family market, I would likely attribute the price decreases and relist rate to aspirational pricing versus market weakness.

🏡 Silver Spring, MD – Single-Family Homes

Median List Price: $695,000Median Price of New Listings: $699,900Price Per Square Foot: $319Average Days on Market: 47Median Days on Market: 21Price Decreased: 36%Price Increased: 0%Relisted: 8%Inventory: 182Median Rent: $3,200MAI: 52 (Strong Seller's Market)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Strong absorption across most price points signals genuine demand depth. The second highest quartile with a medium price of $745,000 is likely the biggest challenge here, 10 homes hit the market but only 1 was absorbed.

🏢 Silver Spring, MD – Condos/Townhomes

Median List Price: $262,000Median Price of New Listings: $314,750Price Per Square Foot: $245Average Days on Market: 72Median Days on Market: 49Price Decreased: 38%Price Increased: 1%Relisted: 8%Inventory: 164Median Rent: $1,975MAI: 44 (Slight Seller's Advantage)

Market Narrative: In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

My Take: Entry-level opportunity with strong rental yields. The premium segment (Q1: $479K) shows excellent momentum while lower tiers require patience. Absorption overall outpaced inventory but the $312,500 quartile is the weakest here.

Key Takeaways

* Absorption Divergence by Price Point: Strong seller's markets like Rockville SF (13 new, 18 absorbed) and Gaithersburg condos (14 new, 20 absorbed) demonstrate healthy demand, while previously hot markets like Gaithersburg SF showing early weakness (18 new, only 7 absorbed) - suggesting buyer selectivity is intensifying.

* Entry-Level Resilience vs. Mid-Tier Vulnerability: Bottom quartiles maintaining momentum across premium markets (Bethesda SF bottom quartile: 6 new, 7 absorbed at 21 DOM), while specific price points like Silver Spring's $745K segment (10 new, 1 absorbed) and the $500K threshold in multiple markets showing absorption challenges.

* Aspirational Pricing vs. True Weakness: High price decrease rates in strong absorption markets (Rockville SF: 44% decreases but beating inventory in all quartiles) reflect seller pricing discipline rather than demand weakness, contrasting with genuine stagnation in ultra-luxury segments (Chevy Chase Q1: 0 absorption, 154 DOM).

* Market Bifurcation at Community Level: Even within individual communities, stark performance splits emerging - Potomac's bottom two quartiles showing exceptional strength while $1.895M segment struggles, and Chevy Chase's clear division between moving bottom half and stalled top half.

Post-holiday market dynamics suggest a bifurcated environment where well-priced properties continue to move efficiently while overpriced inventory accumulates, creating clear strategic pathways for both buyers and sellers willing to price realistically.

Looking Ahead

Watch for the $500K threshold across multiple communities as a potential inflection point for buyer resistance. Gaithersburg SF's early weakness signals (18 new, 7 absorbed) may preview broader market shifts in previously hot areas.

Aspirational pricing corrections in strong absorption markets like Rockville suggest sellers are adjusting expectations without fundamental demand erosion. The bifurcated performance within premium communities indicates pricing precision will become increasingly critical through summer.

As we move deeper into July expect to see more buyer opportunities.

Ready to move?

For Buyers: Post-holiday inventory refresh creates opportunities, especially in luxury segments showing pricing flexibility. Get strategic insights and early access: https://zenlist.com/a/corey.feldman

For Sellers: Market dynamics favor realistic pricing strategies with 35-44% reduction rates signaling negotiation-heavy environment. Get your data-driven market analysis: https://bit.ly/dcmetrocma

Questions about these evolving summer dynamics? Let's discuss your specific situation at 301-564-3058. Here's to a successful week ahead!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

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

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Happy Friday, everyone! If you've been in the DC area, you know it has been hot. We finally have a little bit of a break from the heat wave. Perfect weekend to go check out some open houses!

Here's what this week's data for my brokerage is showing.

Competition is surging. 61% of new contracts had multiple offers. That's up from 50% last week. Those competitive properties averaged 1.6 offers each compared to 0.9 the previous week.

Buyers want more protection though. Last week, half waived inspections. This week, only 21% are waiving. 35% want full inspections. Another 35% opted for pass/fail inspections.

Pricing outcomes tell an interesting story though. 61% of buyers paid above list, up from 50% last week. Yet 30% negotiated below list, up from just 10%. Only 9% paid at list.

The market is splitting. Well-priced homes in great condition can spark bidding wars, while properties that need work or are overpriced sit longer and sell for less. These patterns vary significantly by location and property type though, which is why I'll break it down in detail on Market Monday.

Got questions? Call 301-564-3058 and remember, I'm here to help you love where you live.

Have a spectacular weekend!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Good morning! Quick note, apologies for getting this out a day late. My wife's out of town and I've had my hands full with the kids!

Our Weekend Market Pulse showed an interesting shift: while more properties are seeing competition (50% vs 43% last week), that competition is cooling with an average of just 0.9 offers per property compared to 1.2 last week. Half of buyers continue waiving inspections when they find the right home, and pricing outcomes remain seller-favorable with 90% of contracts at or above list price. This week's data reveals how this selective competition is playing out across Montgomery County's diverse submarkets.

Montgomery County Market Breakdown by Community and Property Type

🏡 Bethesda, MD – Single-Family Homes

Median List Price: $2,050,000 (⬇️ from $2,097,000)Median Price of New Listings: $1,621,900 (⬆️ from $1,522,000)Price Per Square Foot: $447 (⬇️ from $452)Average Days on Market: 74 (⬇️ from 76)Median Days on Market: 42 (↔️ from 42)Price Decreased: 33% (⬇️ from 39%)Price Increased: 1% (↔️ from 1%)Relisted: 14% (⬇️ from 15%)Inventory: 151 (⬆️ from 132)Median Rent: $5,400 (⬇️ from $5,500)MAI: 31 (⬇️ from 42) (📊 Slight Seller's Advantage)

Market Narrative: 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.

My Take: The pace a property sells is quartile specific. Properties with a medium price of $1,150,000 go in 22 days. But go to $1,759,950 and the days on market double. At $3,662,500 DOM is 84. That said there is clear signs of weakness given that even in the bottom quartile absorption is not keeping up with new listing, hence the downward pressure on pricing.

🏢 Bethesda, MD – Condos/Townhomes

Median List Price: $434,750 (⬇️ from $436,499)Median Price of New Listings: $434,750 (⬇️ from $1,525,000)Price Per Square Foot: $345 (⬇️ from $356)Average Days on Market: 53 (⬇️ from 69)Median Days on Market: 42 (↔️ from 42)Price Decreased: 42% (⬇️ from 48%)Price Increased: 0% (↔️ from 0%)Relisted: 2% (↔️ from 2%)Inventory: 48 (⬆️ from 46)Median Rent: $3,030 (⬆️ from $3,020)MAI: 45 (⬆️ from 40) (📈 Strong Seller's Market)

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.

My Take: The improved DOM and reduced price cuts suggest stabilization. Additionally absorption met inventory in 3 of 4 quartiles.

🏡 Chevy Chase, MD – Single-Family Homes

Median List Price: $2,199,800 (⬆️ from $2,174,900)Median Price of New Listings: $2,485,000 (⬆️ from $1,829,500)Price Per Square Foot: $540 (⬆️ from $536)Average Days on Market: 90 (⬇️ from 94)Median Days on Market: 42 (↔️ from 42)Price Decreased: 40% (⬇️ from 46%)Price Increased: 0% (↔️ from 0%)Relisted: 16% (⬇️ from 19%)Inventory: 57 (⬆️ from 52)Median Rent: $5,300 (⬆️ from $4,995)MAI: 22 (⬇️ from 41) (📊 Slight Buyer's Advantage)

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.

My Take: The MAI plummeting from 41 to 22 marks Chevy Chase's shift to a buyer's market! Despite aggressive new listing pricing, 40% still require cuts.

🏢 Chevy Chase, MD – Condos/Townhomes

Median List Price: $465,000 (⬇️ from $475,000)Median Price of New Listings: $306,500 (⬆️ from $233,500)Price Per Square Foot: $401 (⬇️ from $406)Average Days on Market: 84 (⬇️ from 86)Median Days on Market: 49 (⬇️ from 63)Price Decreased: 42% (⬇️ from 43%)Price Increased: 0% (↔️ from 0%)Relisted: 10% (⬆️ from 8%)Inventory: 71 (⬇️ from 75)Median Rent: $2,765 (⬆️ from $2,693)MAI: 40 (⬆️ from 31) (📊 Slight Seller's Advantage)

Market Narrative: The market has started cooling and prices have recently plateaued. Since we're in the Seller's zone, watch for changes in MAI.

My Take: The improved DOM and rising MAI suggest renewed activity, but the increased relist rate and persistent 42% price cuts indicate ongoing pricing challenges. That said absorption is generally outpacing inventory so I wouldn’t be surprised to see a rebound in next weeks numbers.

🏡 Gaithersburg, MD – Single-Family Homes

Median List Price: $889,000 (⬇️ from $912,450)Median Price of New Listings: $874,900 (⬆️ from $809,500)Price Per Square Foot: $257 (↔️ from $257)Average Days on Market: 70 (⬆️ from 64)Median Days on Market: 42 (⬆️ from 35)Price Decreased: 40% (⬇️ from 42%)Price Increased: 1% (⬆️ from 0%)Relisted: 11% (⬆️ from 9%)Inventory: 87 (⬇️ from 96)Median Rent: $3,200 (⬇️ from $3,250)MAI: 65 (⬆️ from 44) (📈 Strong Seller's Market)

Market Narrative: The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks.

My Take: Despite the strong MAI jump, increasing DOM and relist rates suggest buyers remain selective. The market shows conflicting signals, that said absorption is outpacing inventory in all 4 quartiles and the bottom two show days on market at under 30 days.

🏢 Gaithersburg, MD – Condos/Townhomes

Median List Price: $464,450 (⬆️ from $459,450)Median Price of New Listings: $480,000 (⬇️ from $505,000)Price Per Square Foot: $274 (↔️ from $274)Average Days on Market: 37 (⬇️ from 39)Median Days on Market: 21 (⬇️ from 25)Price Decreased: 33% (⬇️ from 35%)Price Increased: 0% (↔️ from 0%)Relisted: 4% (⬇️ from 8%)Inventory: 92 (↔️ from 92)Median Rent: $2,250 (↔️ from $2,250)MAI: 61 (⬆️ from 55) (📈 Strong Seller's Market)

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.

My Take: The improving metrics across the board, faster sales, fewer price cuts, reduced relisting, confirm genuine market strength here. Moreover 3 of 4 quartiles absorption outpaced inventory, and the one quartile that didn’t stilled averaged only 14 days on market!

🏡 Germantown, MD – Single-Family Homes

Median List Price: $850,000 (↔️ from $850,000)Median Price of New Listings: $800,000 (⬆️ from $799,000)Price Per Square Foot: $269 (⬆️ from $252)Average Days on Market: 48 (⬇️ from 56)Median Days on Market: 28 (⬇️ from 35)Price Decreased: 34% (⬇️ from 42%)Price Increased: 0% (↔️ from 0%)Relisted: 9% (⬆️ from 6%)Inventory: 35 (⬆️ from 31)Median Rent: $2,598 (⬇️ from $2,700)MAI: 33 (⬇️ from 54) (📊 Slight Seller's Advantage)

Market Narrative: The market has started cooling and prices have recently plateaued. Since we're in the Seller's zone, watch for changes in MAI.

My Take: The dramatic MAI drop from 54 to 33 signals significant demand deterioration, though improved DOM suggests properly priced homes still move.

🏢 Germantown, MD – Condos/Townhomes

Median List Price: $340,000 (⬆️ from $335,000)Median Price of New Listings: $399,900 (⬆️ from $332,499)Price Per Square Foot: $264 (⬆️ from $260)Average Days on Market: 45 (⬆️ from 43)Median Days on Market: 28 (↔️ from 28)Price Decreased: 42% (↔️ from 42%)Price Increased: 1% (⬇️ from 3%)Relisted: 7% (⬇️ from 8%)Inventory: 73 (⬇️ from 77)Median Rent: $2,011 (⬆️ from $2,001)MAI: 73 (⬆️ from 57) (📈 Strong Seller's Market)

Market Narrative: The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone.

My Take: The strong MAI surge to 73 contradicts the narrative, this market shows genuine heat with aggressive new listing pricing up 20% week-over-week. Not to mention absorption in all 4 quartiles met or meet or beat inventory!

🏡 Kensington, MD – Single-Family Homes

Median List Price: $1,087,500 (↔️ from $1,087,500)Median Price of New Listings: $759,000 (⬇️ from $1,296,250)Price Per Square Foot: $363 (⬇️ from $374)Average Days on Market: 72 (⬆️ from 60)Median Days on Market: 46 (⬆️ from 42)Price Decreased: 35% (⬇️ from 39%)Price Increased: 0% (↔️ from 0%)Relisted: 18% (⬆️ from 17%)Inventory: 34 (⬇️ from 36)Median Rent: $4,075 (↔️ from $4,075)MAI: 48 (⬆️ from 46) (📈 Strong Seller's Market)

Market Narrative: The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller's zone.

My Take: The persistent 18% relist rate confirms ongoing pricing disconnects but I am seeing more strength than Altos is here. Specifically 3 of 4 quartiles, absorption outpaced inventory and the only one that didn’t had a fast 14 days on market.

🏡 Poolesville, MD – Single-Family Homes

Median List Price: $1,000,000 (⬇️ from $1,049,000)Median Price of New Listings: $574,900 (N/A last week)Price Per Square Foot: $285 (⬆️ from $255)Average Days on Market: 123 (⬆️ from 111)Median Days on Market: 42 (↔️ from 42)Price Decreased: 20% (⬇️ from 27%)Price Increased: 0% (↔️ from 0%)Relisted: 0% (↔️ from 0%)Inventory: 10 (⬇️ from 11)Median Rent: $3,500 (↔️ from $3,500)MAI: 56 (⬆️ from 39) (📈 Strong Seller's Market)

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.

My Take: With inventory at just 10 homes and average DOM at 123 days, this thin market shows extreme performance variance by price point.

🏡 Potomac, MD – Single-Family Homes

Median List Price: $1,799,949 (⬇️ from $1,875,000)Median Price of New Listings: $1,250,000 (⬇️ from $1,359,000)Price Per Square Foot: $355 (⬇️ from $356)Average Days on Market: 81 (⬆️ from 74)Median Days on Market: 39 (⬆️ from 35)Price Decreased: 29% (⬇️ from 30%)Price Increased: 0% (↔️ from 0%)Relisted: 10% (⬆️ from 8%)Inventory: 72 (⬇️ from 84)Median Rent: $5,325 (⬇️ from $5,338)MAI: 59 (⬆️ from 41) (📈 Strong Seller's Market)

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.

My Take: I see more strength here than Altos is reporting. Absorption outpaced inventory is 3 of 4 quartiles. In the lowest quartile with a medium price if $1,224,000, days on market is a fast 14 days, and while this quartile only met inventory, the majority of new listings fell in this quartile.

🏡 Rockville, MD – Single-Family Homes

Median List Price: $854,500 (⬇️ from $874,000)Median Price of New Listings: $704,000 (⬇️ from $749,000)Price Per Square Foot: $329 (⬇️ from $342)Average Days on Market: 51 (⬆️ from 48)Median Days on Market: 35 (⬆️ from 28)Price Decreased: 48% (⬇️ from 51%)Price Increased: 1% (↔️ from 1%)Relisted: 6% (⬇️ from 8%)Inventory: 80 (↔️ from 80)Median Rent: $3,500 (↔️ from $3,500)MAI: 50 (⬇️ from 55) (📈 Strong Seller's Market)

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.

My Take: Again I am seeing a bit more strength here that altos narrative shows. The bottom three quartiles are very healthy, absorption met or beat inventory and all three have a reasonable near 30 day on market average. Most of the weakness this week seems to be in that top quartile of $1,394,500.

🏢 Rockville, MD – Condos/Townhomes

Median List Price: $457,000 (⬆️ from $455,000)Median Price of New Listings: $569,850 (⬇️ from $598,000)Price Per Square Foot: $347 (⬆️ from $344)Average Days on Market: 62 (⬆️ from 60)Median Days on Market: 35 (↔️ from 35)Price Decreased: 31% (↔️ from 31%)Price Increased: 1% (⬇️ from 2%)Relisted: 11% (⬆️ from 10%)Inventory: 152 (⬇️ from 153)Median Rent: $2,583 (⬆️ from $2,575)MAI: 41 (⬇️ from 42) (📊 Slight Seller's Advantage)

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.

My Take: The plateau continues with minimal movement across metrics. Rising relist rates suggest some sellers testing market limits. Bottom two quartiles, $415,000 and $252,000 the absorption rate is significantly outpacing inventory, but the somewhat sluggish days on market still indicate buyer reservations

🏡 Silver Spring, MD – Single-Family Homes

Median List Price: $690,000 (⬆️ from $685,000)Median Price of New Listings: $689,000 (⬇️ from $699,500)Price Per Square Foot: $323 (⬆️ from $316)Average Days on Market: 43 (⬇️ from 51)Median Days on Market: 28 (↔️ from 28)Price Decreased: 34% (⬇️ from 37%)Price Increased: 1% (↔️ from 1%)Relisted: 11% (⬆️ from 8%)Inventory: 166 (⬆️ from 163)Median Rent: $3,100 (↔️ from $3,100)MAI: 49 (⬇️ from 53) (📈 Strong Seller's Market)

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.

My Take: Improved marketing times offset by increased relisting activity. This market maintains relative stability compared to others. Absorption met or beat inventory in three of four quartiles.

🏢 Silver Spring, MD – Condos/Townhomes

Median List Price: $252,500 (⬇️ from $265,000)Median Price of New Listings: $250,000 (⬇️ from $305,000)Price Per Square Foot: $244 (⬇️ from $245)Average Days on Market: 78 (⬇️ from 79)Median Days on Market: 49 (⬇️ from 56)Price Decreased: 39% (⬇️ from 42%)Price Increased: 3% (⬆️ from 2%)Relisted: 10% (⬆️ from 7%)Inventory: 158 (⬇️ from 171)Median Rent: $1,972 (⬆️ from $1,962)MAI: 60 (⬆️ from 44) (📈 Strong Seller's Market)

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.

My Take: The MAI surge from 44 to 60 shows genuine market heat, with improved DOM additionally reduced inventory is meeting strong absorption rates in all four quartiles

Key Takeaways

More bids, lighter bidding wars. At our Brokerage in the DCMetro area half the homes listed drew at least one offer, but the average slipped to 0.9 from 1.2. Buyers still waive inspections on the right homes, and 90% of accepted contracts met or beat asking price.

Price drives velocity. In Bethesda single‑family homes, listings around $1,150,000 move quickly. Near $1,760,000 the days on market roughly double, and at $3,662,500 they stretch to 84 days.

Condos and townhomes carry momentum. Gaithersburg and Silver Spring attached homes show strong absorption with fewer price cuts and rising rents; Germantown posts a similar absorption jump, though its price‑reduction share held steady.

Chevy Chase is cooling. Its single‑family Market Action Index fell from 41 to 22, putting buyers in the driver’s seat even as many new listings test higher price points.

Quartiles tell the story. Generally speaking the lowest-priced quartile moves fastest, often under 30 days, while the top quartile can linger two to three times longer. Price cuts and relists cluster in the upper half, underscoring the need for sharp pricing above the median.

Looking Ahead

Entry and mid price condos remain tight. Attached homes priced below $600,000 in Gaithersburg, Germantown, and Silver Spring should keep moving fast and could see firmer prices.

Rates may trigger demand. Even a small drop in mortgage rates could pull more buyers into the market below $900,000.

Chevy Chase bears watching. If its Market Action Index stays near 22, buyers will press harder on price and terms, but I’m still betting on a surge for this submarket.

Preparation matters more than price. Homes that show well and list at fair market value attract offers quickly.

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

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Hope everyone's having a fantastic weekend! Here's what this week's data shows.

Competition is spreading but becoming less intense. While 50% of contracts received multiple offers compared to 43% last week, they're averaging just 0.9 offers per property versus 1.2 last week.

Half of buyers are still waiving inspections when they find the right property. And pricing outcomes remain strong with 50% paying above list, 40% at list, and only 10% below.

This points to increased market segmentation and more opportunities for selective buyers, but well-positioned sellers still hold the advantage.

Detailed community analysis coming Monday.

Questions? Call 301-564-3068 and remember I'm here to help you love where you live.

Have a spectacular weekend!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Good morning! The market segmentation we've been tracking continues to deepen. This week's Montgomery County-wide data confirms what our Weekend Pulse revealed; we're operating in two distinct markets simultaneously. In one, properly priced properties still draw multiple offers and waived contingencies. In the other, overpriced listings accumulate days on market and require repeated price cuts. Please note, I have made a small change to the community section. While ALTOS does an amazing job at market intelligence, it occasionally misses a bit a nuance, so I am adding my take, for each community, as well!

Montgomery County Market Breakdown by Community and Property Type

🏡 Bethesda, MD – Single-Family Homes

Median List Price: $2,097,000 (⬆️ from $2,025,000)Median Price of New Listings: $1,522,000 (⬇️ from $1,549,000)Price Per Square Foot: $452 (⬇️ from $455)Average Days on Market: 76 (⬆️ from 75)Median Days on Market: 42 (⬆️ from 39)Price Decreased: 39% (⬇️ from 40%)Price Increased: 1% (↔️ from 1%)Relisted: 15% (⬆️ from 14%)Inventory: 132 (⬆️ from 130)Median Rent: $5,500 (↔️ from $5,500)MAI: 42 (⬇️ from 43) (📊 Slight Seller's Advantage)Market Narrative: Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.My Take: The continued price cuts and persistent relist rate suggest downward pressure on pricing.

🏢 Bethesda, MD – Condos/Townhomes

Median List Price: $$436,499 (↔️ from $436,499)Median Price of New Listings: $1,525,000 (⬆️ from $449,000)Price Per Square Foot: $356 (↔️ from $356)Average Days on Market: 69 (⬆️ from 63)Median Days on Market: 42 (⬆️ from 39)Price Decreased: 48% (⬆️ from 42%)Price Increased: 0% (↔️ from 0%)Relisted: 2% (⬇️ from 8%)Inventory: 46 (⬇️ from 48)Median Rent: $$3,020 (⬇️ from $3,029)MAI: 40 (⬇️ from 41) (📊 Slight Seller's Advantage)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. My Take: While I am anecdotally seeing a bump in activity in my personal business in this area, the increase in marketing time and price reductions are sending clear signals of a softening market.

🏡 Chevy Chase, MD – Single-Family Homes

Median List Price: $2,174,900 (↔️ from $2,174,900)Median Price of New Listings: $1,829,500 (⬇️ from $1,947,500)Price Per Square Foot: $536 (↔️ from $536)Average Days on Market: 94 (⬆️ from 84)Median Days on Market: 42 (⬆️ from 35)Price Decreased: 46% (⬆️ from 37%)Price Increased: 0% (↔️ from 0%)Relisted: 19% (↔️ from 19%)Inventory: 52 (↔️ from 52)Median Rent: $4,995 (⬇️ from $5,148)MAI: 41 (⬇️ from 42) (📊 Slight Seller's Advantage)Market Narrative: Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.My Take: The continued price cuts, increase in Days on Market, and persistent relist rate suggest downward pressure on pricing.

🏢 Chevy Chase, MD – Condos/Townhomes

Median List Price: $475,000 (⬇️ from $495,000)Median Price of New Listings: $233,500 (⬇️ from $550,000)Price Per Square Foot: $406 (⬇️ from $410)Average Days on Market: 86 (⬆️ from 78)Median Days on Market: 63 (⬆️ from 49)Price Decreased: 43% (⬆️ from 33%)Price Increased: 0% (↔️ from 0%)Relisted: 8% (⬇️ from 9%)Inventory: 75 (⬇️ from 79)Median Rent: $2,693 (⬆️ from $2,690)MAI: 31 (↔️ from 31) (📊 Slight Seller's Advantage)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: The continued price cuts, increase in Days on Market, and persistent relist rate suggest downward pressure on pricing.

🏡 Gaithersburg, MD – Single-Family Homes

Median List Price: $912,450 (⬆️ from $897,450)Median Price of New Listings: $809,500 (⬇️ from $877,000)Price Per Square Foot: $257 (↔️ from $257)Average Days on Market: 64 (⬇️ from 66Median Days on Market: 35 (⬆️ from 28)Price Decreased: 42% (⬆️ from 38%)Price Increased: 0% (↔️ from 0%)Relisted: 9% (⬇️ from 10%)Inventory: 96 (⬆️ from 92)Median Rent: $3,250 (⬇️ from $3,475)MAI: 44 (⬇️ from 45) (📈 Strong Seller's Market)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: The continued price cuts, increase in Days on Market, and persistent relist rate suggest downward pressure on pricing.

🏢 Gaithersburg, MD – Condos/Townhomes

Median List Price: $459,450 (⬆️ from $445,000)Median Price of New Listings: $505,000 (⬆️ from $440,000)Price Per Square Foot: $274 (⬇️ from $275)Average Days on Market: 39 (⬇️ from 48)Median Days on Market: 25 (⬇️ from 28)Price Decreased: 35% (⬇️ from 38%)Price Increased: 0% (⬇️ from 1%)Relisted: 8% (↔️ from 8%)Inventory: 92 (⬆️ from 72)Median Rent: $2,250 (⬆️ from $2,126)MAI: 55 (⬇️ from 57) (📈 Strong Seller's Market)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.My Take: We are seeing similar patters but given the spike in inventory was met with decent absorption; this market is comparably strong.

🏡 Germantown, MD – Single-Family Homes

Median List Price: $850,000 (⬆️ from $849,950)Median Price of New Listings: $799,000 (↔️ from $799,450)Price Per Square Foot: $252 (⬇️ from $262)Average Days on Market: 56 (↔️ from 56)Median Days on Market: 35 (↔️ from 35)Price Decreased: 42% (⬆️ from 36%)Price Increased: 0% (↔️ from 0%)Relisted: 6% (⬇️ from 7%)Inventory: 31 (⬆️ from 28)Median Rent: $2,700 (⬆️ from $2,650)MAI: 54 (⬇️ from 56) (📈 Strong Seller's Market)Market Narrative: The market has started cooling and prices have recently plateaued. 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: The increasing price cuts and persistent relist rate suggest downward pressure on pricing.

🏢 Germantown, MD – Condos/Townhomes

Median List Price: $335,000 (⬇️ from $339,000)Median Price of New Listings: $332,499 (⬇️ from $420,000)Price Per Square Foot: $260 (⬆️ from $258)Average Days on Market: 43 (↔️ from 43)Median Days on Market: 28 (↔️ from 28)Price Decreased: 42% (⬆️ from 40%)Price Increased: 3% (⬆️ from 1%)Relisted: 8% (↔️ from 8%)Inventory: 77 (↔️ from 77)Median Rent: $2,001 (⬆️ from $1,995)MAI: 57 (↔️ from 57) (📈 Strong Seller's Market)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: While we are seeing similar patterns in the metrics, this is a fairly strong market. Absorption met or beat new listings in 3 of 4 quartiles.

🏡 Kensington, MD – Single-Family Homes

Median List Price: $1,087,500 (⬇️ from $1,125,000)Median Price of New Listings: $1,296,250 (⬆️ from $1,072,500)Price Per Square Foot: $374 (⬇️ from $389)Average Days on Market: 60 (⬆️ from 52)Median Days on Market: 42 (⬆️ from 35)Price Decreased: 39% (⬆️ from 35%)Price Increased: 0% (↔️ from 0%)Relisted: 17% (⬆️ from 8%)Inventory: 36 (⬇️ from 37)Median Rent: $4,075 (⬇️ from $4,200)MAI: 46 (⬇️ from 47) (📈 Strong Seller's Market)Market Narrative: The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller's zone so we haven't yet seen prices move lower as a result. 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: I believe a lot of the price decreases in the metric above were related to aspirational pricing. Everything I am seeing in my personal business and conversations with agents and lenders in this market seem to indicate a fairly strong buyer interest, but the next couple of weeks should be telling.

🏡 Poolesville, MD – Single-Family Homes

Median List Price: $1,049,000 (↔️ from $1,049,000)Median Price of New Listings: N/A (no new listings)Price Per Square Foot: $255 (↔️ from $255)Average Days on Market: 111 (⬆️ from 104)Median Days on Market: 42 (⬆️ from 35)Price Decreased: 27% (↔️ from 27%)Price Increased: 0% (↔️ from 0%)Relisted: 0% (↔️ from 0%)Inventory: 11 (↔️ from 11)Median Rent: $3,500 (↔️ from $3,500)MAI: 39 (⬇️ from 42) (📊 Slight Seller's Advantage)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: Note: MAI actually declined from 42 to 39, so not "moving higher" and with zero new listings this week, the market appears stagnant rather than heating up.

🏡 Potomac, MD – Single-Family Homes

Median List Price: $1,875,000 (↔️ from $1,875,000)Median Price of New Listings: $1,359,000 (⬇️ from $1,390,000)Price Per Square Foot: $356 (↔️ from $356)Average Days on Market: 74 (⬆️ from 70)Median Days on Market: 35 (↔️ from 35)Price Decreased: 30% (⬇️ from 34%)Price Increased: 0% (↔️ from 0%)Relisted: 8% (⬆️ from 6%)Inventory: 84 (⬆️ from 82)Median Rent: $5,338 (↔️ from $5,500)MAI: 41 (⬇️ from 43) (📊 Slight Seller's Advantage)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: For Potomac, your quartiles matter! At the $3,495,000 medium price we see 84 days on market. That drops to 42 at the $2,200,000 price point. $1,699,000 we are down to 28 days. And when we get down to the $1,249,000 price point we are at a blazing 7 days on Market! Fox Hills West, I’m looking at you!

🏡 Rockville, MD – Single-Family Homes

Median List Price: $874,000 (⬆️ from $854,495)Median Price of New Listings: $749,000 (⬆️ from $674,500)Price Per Square Foot: $342 (⬇️ from $351)Average Days on Market: 48 (⬇️ from 50)Median Days on Market: 28 (↔️ from 28)Price Decreased: 51% (⬆️ from 44%)Price Increased: 1% (↔️ from 1%)Relisted: 8% (⬇️ from 9%)Inventory: 80 (⬆️ from 78)Median Rent: $3,500 (⬆️ from $3,450)MAI: 55 (⬆️ from 54) (📈 Strong Seller's Market)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 Note: With 51% of listings requiring price cuts, one of the highest in Montgomery County, the "Strong Seller's Market" designation seems increasingly theoretical.

🏢 Rockville, MD – Condos/Townhomes

Median List Price: $455,000 (⬆️ from $446,950)Median Price of New Listings: $598,000 (⬆️ from $385,000)Price Per Square Foot: $344 (⬆️ from $341)Average Days on Market: 60 (⬇️ from 62)Median Days on Market: 35 (⬆️ from 32)Price Decreased: 31% (⬇️ from 36%)Price Increased: 2% (↔️ from 2%)Relisted: 10% (⬆️ from 8%)Inventory: 153 (⬆️ from 146)Median Rent: $2,575 (⬆️ from $2,573)MAI: 42 (⬆️ from 41) (📊 Slight Seller's Advantage)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: This market which has been consistently strong has plateaued for now; I’m keeping an eye on days on market and price decreases.

🏡 Silver Spring, MD – Single-Family Homes

Median List Price: $685,000 (⬆️ from $679,000)Median Price of New Listings: $699,500 (⬆️ from $684,500)Price Per Square Foot: $316 (↔️ from $316)Average Days on Market: 51 (⬆️ from 47)Median Days on Market: 28 (⬆️ from 21)Price Decreased: 37% (⬇️ from 40%)Price Increased: 1% (↔️ from 1%)Relisted: 8% (⬆️ from 7%)Inventory: 163 (⬆️ from 153)Median Rent: $3,100 (↔️ from $3,100)MAI: 53 (⬇️ from 54) (📈 Strong Seller's Market)Market Narrative: The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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: This market is slow but steady. We see similar trends but absorption is generally keeping up with supply.

🏢 Silver Spring, MD – Condos/Townhomes

Median List Price: $265,000 (⬇️ from $264,999)Median Price of New Listings: $305,000 (⬆️ from $265,000)Price Per Square Foot: $245 (⬇️ from $246)Average Days on Market: 79 (⬆️ from 77)Median Days on Market: 56 (↔️ from 56)Price Decreased: 42% (⬇️ from 44%)Price Increased: 2% (↔️ from 2%)Relisted: 7% (⬆️ from 6%)Inventory: 171 (⬆️ from 152)Median Rent: $1,962 (⬇️ from $1,973)MAI: 44 (↔️ from 44) (📊 Slight Seller's Advantage)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 Note: MAI has been flat at 44, not "moving higher" and with 56-day median DOM, the market shows more stagnation than strength.

Key Takeaways

📊 Selective Competition Confirmed: Our Weekend Pulse observation of 43% multiple offers aligns perfectly with the data, Bethesda single-family shows extreme performance gaps with luxury homes sitting 77 days while entry-level sells in 21.

⏱️ June Momentum Stalls: Chevy Chase condos saw median DOM jump from 49 to 56 days week-over-week, while 10 of 14 segments showed increasing or elevated marketing times during what should be peak season.

✂️ Price Cuts Hit Critical Mass: Rockville single-family reached 51% price reductions. Chevy Chase single-family surged from 37% to 46% in just one week, confirming sellers are finally facing market reality.

🔄 Persistent Relisting Rates: Chevy Chase single-family maintained 19% relist rate for second consecutive week, while Kensington doubled from 8% to 17%, highlighting chronic pricing disconnects.

Looking Ahead

This week's data confirms June 2025 continues to defy seasonal patterns. The 57% of buyers waiving inspections perfectly illustrates the selective market dynamic; when buyers find the right property among the 43% drawing multiple offers, they compete aggressively. This is at its heart, strategic selectivity.

The extreme performance variance within communities means success increasingly depends on accurate initial pricing. With buyers walking away from overpriced listings but competing fiercely for well-positioned properties; sellers should avoid aspirational pricing.

Ready to Navigate This Precision Market?

For Buyers: In this selective market, preparation is power. Get early access to new listings that meet your criteria: https://zenlist.com/a/corey.feldman

For Sellers: With 40%+ of listings requiring price cuts, accurate initial pricing is critical. Get your data-driven market analysis: https://bit.ly/dcmetrocma

Questions about these shifting dynamics? Let's discuss your specific situation at 301-564-3058.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com

Happy Friday everyone!

Competition remains selective with 43% of new contracts receiving multiple offers, averaging 1.2 offers per property. Buyers are being choosy about where they compete.

When buyers do find the right property, they're still willing to take risks. 57% had no inspection contingencies this week.

On pricing, 36% of buyers paid above list price, 43% negotiated to list price, and 21% secured below-list deals.

The bottom line is selective competition for well-positioned properties.

We'll have more detailed analysis and community by community breakdown on Monday.

Got questions? Call me at 301-564-3068 and remember I'm here to help you love where you live.

Have a spectacular weekend!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefeldmangroup.substack.com