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- $935,000 - 14700 Seneca Rd
- $859,000 - 13739 Valley Oak Cir
- $1,175,000 - 11017 Daybreak Ct
- $875,000 - 20900 Slidell Rd
- $1,095,000 - 11802 Henry Fleet Dr
- $1,250,000 - 12833 Talley Ln
- $1,295,000 - 13317 Beall Creek Ct
- $899,000 - 408 Autumn Wind Way
- $1,350,000 - 11411 Patriot Ln
- $1,399,000 - 17510 Sir Galahad Way
- $1,250,000 - 8601 Nutmeg Ct
- $1,550,000 - 8925 Harvest Square Ct
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$935,000 - 14700 Seneca Rd
Darnestown
5 beds, 4 full, 1 part bathsHome size: 5,704 sq ftLot size: 5.00 acYear built: 1997 -
$859,000 - 13739 Valley Oak Cir
Rockville
4 beds, 2 full, 1 part bathsHome size: 2,880 sq ftLot size: 9,956 sqftYear built: 1994 -
$1,175,000 - 11017 Daybreak Ct
Rockville
4 beds, 3 full bathsHome size: 5,426 sq ftLot size: 40,095 sqftYear built: 2001 -
$875,000 - 20900 Slidell Rd
Boyds
4 beds, 3 full, 2 part bathsHome size: 4,337 sq ftLot size: 4.64 acYear built: 2006 -
$1,095,000 - 11802 Henry Fleet Dr
Potomac
7 beds, 6 full bathsHome size: 5,098 sq ftLot size: 9,075 sqftYear built: 2006 -
$1,250,000 - 12833 Talley Ln
Gaithersburg
6 beds, 5 full, 1 part bathsLot size: 2.43 acYear built: 2006 -
$1,295,000 - 13317 Beall Creek Ct
Potomac
5 beds, 4 full, 1 part bathsLot size: 2.91 acYear built: 1977 -
$899,000 - 408 Autumn Wind Way
Rockville
5 beds, 4 full, 1 part bathsHome size: 4,746 sq ftLot size: 6,467 sqftYear built: 2001 -
$1,350,000 - 11411 Patriot Ln
Potomac
6 beds, 6 full, 2 part bathsHome size: 7,756 sq ftLot size: 6,385 sqftYear built: 2006 -
$1,399,000 - 17510 Sir Galahad Way
Ashton
7 beds, 9 full, 2 part bathsHome size: 11,839 sq ftLot size: 5.00 acYear built: 2006 -
$1,250,000 - 8601 Nutmeg Ct
Potomac
4 beds, 3 full bathsLot size: 2.03 acYear built: 1977 -
$1,550,000 - 8925 Harvest Square Ct
Potomac
8 beds, 5 full, 3 part bathsHome size: 8,930 sq ftLot size: 2.00 acYear built: 1987
Snapshot of Million Dollar Homes in Montgomery County
January 21st, 2009 Categories: Bethesda, Luxury Homes, Potomac
Amidst declining home values in Montgomery County, we still have a healthy market for homes in the upper brackets. In 2008, 770 homes priced $950,000 or more sold for a total of $1.1 billion (with a ‘B’). For all price ranges, about 8,500 homes sold for a total of $4.27 billion. So even though 770 homes represents only about 9% of the number of homes sold, this was over 25% of the total sales volume for the year.
Over 80% of all homes in this price range sold in Bethesda, Potomac and Chevy Chase. Of these areas, Chevy Chase has the lowest inventory with about 6.8 months available. Bethesda has 7.8 months and Potomac has 9.7 months worth of inventory. It’s a bit trite but true: in real estate, it’s all about ‘location, location, location’. In our market, the closer to metropolitan D.C., the more expensive the home.
Looking across the County, the area with the lowest inventory in this price range is (surprisingly) North Potomac. Granted, the market in North Potomac is very different that that of ‘the big three’. In 2008 the average sales price for Bethesda, Potomac and Chevy Chase in this price range was $1.4M, $1.6M and $1.5M respectively over a much larger number of sales. The average sales price in North Potomac was about $1,140,000 over just 29 sales.
The table below summarizes the units sold, active listings and available inventory for each area. Contact us for more information about a particular neighborhood or for more details on this analysis. What are your thoughts on this segment of the real estate market? Add a comment below and let us know.
