MoCoRealEstate

Darnestown real estate year-end review

December 29th, 2008 Categories: Darnestown

We love Darnestown and do a lot of business here.  Inventory here has been high this year.  Especially for homes priced over $1 million, the market has seemed slow.  Just looking at sales over the last two years, the total number of sales is down 28%.  The first waves of the credit crunch hit in the fall of 2007 which carried into 2008.  Compared to last year, sales were down nearly 40%  for the 1st half of the year.  Sales in the 2nd half were down 14%.

Taking a look at sales by price range, most sales declines have been in the $600,000 to $1M price range — 35% lower in 2008.  Sales under $600,000 and over $1M were down 14% and 16% respectively.

As of the writing of this post, there are 33 homes currently available on the market:

• Under $600K – 5 homes
• $600K to $1M – 12 homes
• Over $1M – 13 homes

With the Spring comes new buyers and new listings.  Contact us for more information on Darnestown if you are planning to buy or sell here in 2009.

Posted by Bruce Lemieux

This entry was posted on Monday, December 29th, 2008 at 7:06 pm and is filed under Darnestown. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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