MoCoRealEstate

Archive for June, 2010

Charming Townhome Condo

June 22nd, 2010 Categories: North Potomac, Our Homes

This condo townhome features a brick front and front porch. Inside, the main level features a spacious kitchen and large family room with hardwood floors.  Check out all the details and more pictures for 12548 Granite Ridge Drive.

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Montgomery County Real Estate Trending to a Buyer’s Market

June 17th, 2010 Categories: Market Updates

After a crazy-busy spring market with 30% increase in contracts compared to 2009, the most current statistics indicate that buyers will soon be back in the drivers’ seat as available inventory jumps up while contract activity cools down.

Inventory in Montgomery County steadily declined every month in 2009 through early 2010.  Then in March, tons of new homes came on the market.  Luckily for many sellers, so did the contract activity.  Now, new homes continue to be added to the market while buyer activity wanes.  With super low interest rates and a larger selection of homes, home buyers are in a great position to negotiate a great deal on a home purchase.

[August 22, 2010 - I caught an error in calculation of the number of distress inventory which should be at 1,071 homes - or 26% of the total, not 19%.  Sorry about that.]

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Historic Darnestown Home

June 16th, 2010 Categories: Darnestown, Our Homes

Originally built in 1860, this home was expanded and updated in 1995.  With its distinctive red tin roof, towering mature trees and lush landscaping, this property says “Home”.  It’s breezy, comfortable and just a little quirky.  See all the details at www.TurkeyFootRoad.com.

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Regal Darnestown Colonial

June 16th, 2010 Categories: Darnestown, Our Homes

Set high on a fantastic lot, this brick-front colonial has a regal presence.  The interior spaces are also impressive with big rooms, soaring ceilings, a curved hardwood staircase and hardwood and slate flooring.  Truly, a special property.  See all the details and big pictures at www.FallingLeafWay.com.

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Renovated Colonial on Cul-de-Sac

June 16th, 2010 Categories: Germantown, Our Homes

This gleaming, four bedroom colonial home is in superb condition.  It’s in move-in condition with new hardwood kitchen cabinets, appliances, heating and air-conditioning, and fully renovated baths.  The main level features a gas fireplace and a sunken living room.  Check out all of the details at www.WheatridgeTerrace.com and call to setup a private showing!

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Spectacular Brick Townhome

June 16th, 2010 Categories: Germantown, Our Homes

The three best words to describe this brick end-unit townhome:  Wow, Wow and Wow!  This home is in immaculate condition and has been renovated from top to bottom.  This home is full of highlights, but the two master suites are spectacular.  Take a long virtual tour at www.BlackSaddleLane.com and be ready to be impressed!

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Rockville Contracts in 2010

June 14th, 2010 Categories: Rockville

The overall contract activity in Rockville and North Bethesda is 25% higher than 2009. Most of the higher contract volume took place for homes priced under $500,000.

Contact us for information about the market in Rockville and see these stats for other areas in Montgomery County.

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Potomac Contracts in 2010

June 14th, 2010 Categories: Potomac

The overall contract activity in Potomac is 40% higher than 2009.  These statistics suggest that home prices have generally gone up this year with much stronger sales activity for homes priced over $600,000.  The market for homes priced $1.5M or higher, however, is still soft.  15% fewer homes in this price bracket have gone under contract so far this year.

Contact us for information about the market in Potomac and see these stats for other areas in Montgomery County.

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Poolesville Contracts in 2010

June 14th, 2010 Categories: Poolesville

The overall contract activity in Poolesville, Dickerson, Barnesville and the Agricultural Reserve is 65% higher than 2009. Sales of entry level homes priced under $300,000 is up 200% from 2009.

Contact us for information about the market in Poolesville and see these stats for other areas in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment

Olney Contracts in 2010

June 14th, 2010 Categories: Olney

The overall contract activity in Olney, Ashton, Brookeville and Sandy Spring is 40% higher than 2009. Except for homes priced over $800,000, the number of contracts are up in all price ranges this year compared to 2009.

Contact us for information about the market in Olney and see these stats for other areas in Montgomery County.

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Germantown and Boyds Contracts in 2010

June 14th, 2010 Categories: Germantown

The overall contract activity in Germantown and Boyds is on third higher than in 2009.  Activity has increased in most price segments.  Over 86% of all contract activity took place for homes priced under $400,000.

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North Potomac Contracts in 2010

June 14th, 2010 Categories: North Potomac

Sales activity in North Potomac has been breath-taking so far in 2010 with a 56% increase in the contract activity compared to this time last year.  Move-up buyers are driving the market here – especially for homes priced from $300,000 to $600,000 with a staggering increase of over 70% compared to 2009.

Contact us for information about the market in North Potomac and see these stats for other areas in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment

Gaithersburg Contracts in 2010

June 14th, 2010 Categories: Gaithersburg

The overall contract activity in Gaithersburg, Derwood and Montgomery Village is 26% higher than 2009.  Activity has increased in all price segments except for higher-priced homes – over 95% of all contract activity takes place for homes priced under $600,000.

Contact us for information about the market in Gaithersburg and see these stats for other areas in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment

Darnestown Contract Activity in 2010

June 14th, 2010 Categories: Darnestown

The overall contract activity in Darnestown is 41% higher than 2009. Compared to 2007 and 2008, the market for upper bracket homes continues to be soft.

Contact us for information about the market in Darnestown and see these stats for other areas in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment

Clarksburg and Damascus Contracts in 2010

June 14th, 2010 Categories: Clarksburg

The overall contract activity in Clarksburg and Damascus is 28% higher than 2009.  This area continues to have a high concentration of distress sales which has driven prices lower.  Still, this year we’ve seen a big jump in contracts for homes priced $500,000 to $700,000 which is a big improvement from this time last year.

Contact us for information about the market in Clarksburg and Damascus and see these stats for other areas in Montgomery County.

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Bethesda Contracts in 2010

June 14th, 2010 Categories: Bethesda

The overall contract activity in Bethesda, Chevy Chase and Kensington is 15% higher than 2009.  Compared to other areas, this increase may seem tepid.  Don’t be fooled – the market here is very healthy and has weathered the recent boom-and-bust years better than any other area in Montgomery County.  Foreclosures and short sales continue to be rare keeping home prices stable.

Contact us for information about the market in Bethesda and see these stats for other areas in Montgomery County.

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Detailed View of Montgomery County Contract Activity

June 14th, 2010 Categories: Market Updates

Compared to 2009, home sales have increased in all areas of Montgomery County and in all price ranges so far in 2010.

See this overview for each area in Montgomery County:

• Bethesda, Chevy Chase and Kensington
• Clarksburg and Damascus
• Germantown and Boyds
• Darnestown
• Gaithersburg, Derwood and Montgomery Village
• North Potomac
• Olney, Ashton, Brookeville and Sandy Spring
• Poolesville and the Ag Reserve
• Potomac
• Rockville and North Bethesda
• Silver Spring, Takoma Park and Burtonsville

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Silver Spring Contracts in 2010

June 14th, 2010 Categories: Silver Spring

The overall contract activity in the Silver Spring area is 36% higher than 2009 strongly indicating the real estate market here has stabilized.  Transaction volume is higher in all price ranges with most sales for homes priced under $600,000.

Contact us for information about the market in Silver Spring and see these stats for other areas in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment

Montgomery County Contracts by Price

June 6th, 2010 Categories: Market Updates

“How has the first time buyer and move-up tax credit affected the market?” We get this question a lot.  My feeling is that the credit created a ‘cash for clunkers effect’ motivating buyers to make home purchases earlier than they would have normally made.  A look at overall contract activity by week clearly shows buyers rushing to make the deadline.

Since the credit phases out for purchase over $800K and buyers with higher income, I took a look at contracts by price range:

As expected, the more expensive the home, the lower the impact.  In the coming days I’ll provide updates for each area of Montgomery County.  Contact us anytime for specific questions about our real estate market.

Posted by Bruce Lemieux | Leave A Comment