MoCoRealEstate

Archive for July, 2010

Montgomery County Inventory Continues to Climb

July 15th, 2010 Categories: Market Updates

This month’s check on available housing in Montgomery County shows that inventory continues to climb.  For the first time this year, this month’s inventory exceeds 2009′s level.  For qualified buyers, the mix of higher selection of homes and rock bottom interest rates make it a great time to buy.

[August 22, 2010 - I caught an error in calculation of the number of distress inventory which should be at 1,177 homes - or 28% of the total, not 20%.  Sorry about that.]

Posted by Bruce Lemieux | Leave A Comment

Harpers Ferry – A Great Day Trip

July 14th, 2010 Categories: Things to Do

Harpers Ferry is less than an hour from Montgomery County and is a great day-trip destination.  There’s history, hiking, biking and paddling.  We go there a quite a bit and plan to post more brief videos.  The Maryland Heights trail may have the very best views of Harpers Ferry.  It’s straight up – but worth the trip.

Posted by Bruce Lemieux | 1 Comment »

Montgomery County Contract Trends

July 10th, 2010 Categories: Market Updates

Last month I summarized the rate of contracts by week just after the federal home buyer tax credit expired.  Contract activity soared as the deadline approached, then plummeted the following weeks.  My theory:  I don’t believe the credit brought many new buyers into the market, but rather encouraged buyers to simply accelerate their purchases.   The three most important factors driving home sales are affordability, interest rates and jobs.  Right now, all three of these factors are favorable in Montgomery County.

An update of contracts through the end of June is shown below.  Contracts have trended up since the beginning of May.  As we enter the hot, summer sales season, I would expect contract activity to begin trending down again as it does in a normal (whatever that is) year.

Contact us anytime with questions about our local market in Montgomery County.

Posted by Bruce Lemieux | Leave A Comment