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- $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
- $1,550,000 - 10801 Piney Meetinghouse Rd
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$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 -
$1,550,000 - 10801 Piney Meetinghouse Rd
Potomac
7 beds, 6 full, 3 part bathsHome size: 9,522 sq ftLot size: 2.94 acYear built: 1986
Signs of Recovery for Luxury Homes in Montgomery County?
January 19th, 2011 Categories: Bethesda, Luxury Homes, Market Updates, Potomac
Sales of upper bracket homes have suffered over the last couple of years, yet 2010′s numbers show signs of a turnaround. Is this the beginning of a recovery for this segment of the market, or are we seeing a dead cat bounce (apologies to cat lovers)? Let’s take a look.
Most Expensive Sales in 2009 and 2010
Before we dig into the numbers, let’s look at the five most expensive sales in 2009 and 2010.
| 2009 | 2010 |
| Address | Asking | Sold | Address | Asking | Sold | |
| 9109 Harrington Dr | $9.9M | $7.8M | 7610 Fairfax Rd | $4.9M | $4.0M | |
| 9441 Newbridge Dr | $7.0M | $6.5M | 4704 Drummond Ave | $4.0M | $3.8M | |
| 9808 Bentcross Dr | $5.5M | $5.3M | 9800 Bentcross Dr | $4.0M | $3.8M | |
| 9034 Bronson Dr | $5.0M | $5.0M | 10021 Bentcross Dr | $3.9M | $3.7M | |
| 5215 Moorland Ln | $6.0M | $5.0M | 10920 Cripplegate Rd | $4.0M | $3.5M |
The five most expensive homes sold in 2009 sold for at least $5 million. The highest sale in 2010 wouldn’t have even made the top 5 in 2009. Scroll down to the end of this post for all Montgomery County homes with an asking price of $4M or more. When this article was written, 18 homes were priced over $4M. [Update on Feb 2011: 11231 River View Road in Potomac sold for $20M. According to MRIS, this historic estate was purchased by Ted Leonsis in a house swap]
Looking Back 11 Years
Looking at sales over the last 11 years provides a longer view for this segment of the market.
602 homes sold for $1M or more in 2010 compared to 530 in 2009 – a very healthy 14% increase. All price segments shown were up in 2010 except for $2M+ sales. 63 homes sold for $2M+ in 2009 compared to 40 in 2010 – a decrease of 37%.
Looking at the total sales volume over this same time period reveals more about today’s market currents:
The number of $1M+ homes was up 14%, but sales volume was up just 6.7%. So even though more homes sold, the average sales price was lower. All segments showed an improvement, except — again — for the $2M+ segment which was down 40%.
Predictions for 2011
Here’s how I interpret these numbers. We did see a nice bounce in 2010 which is clearly a positive sign. This tells us that buyers have the means and motivation to buy homes in the upper brackets. Still, buyers are expecting – and getting – more for their money. To be successful in 2011, sellers must price their home aggressively and be prepared to negotiate.
Also, given the extraordinary number of sales from 2004 to 2008, I expect to see more foreclosures in the upper brackets this year. Just about anyone who purchased a high-end property during that time period would have a very difficult time selling now.
Contact us if you are planning to buy or sell in this market segment in 2011. What are your thoughts about the market for upper bracket homes in Montgomery County? Make a comment and let us know.
The Lux of the Lux: Homes Listed $4M and Higher
Showing properties
1 - 20 of 22.
See more Luxury Homes Priced $4 Million and Higher.
(all data current as of
5/22/2013)
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$7,995,000 : 10800 Pleasant Hill Dr, Potomac6 beds, 7 full, 4 part baths
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$4,250,000 : 9305 Kendale Rd, Potomac7 beds, 9 full, 2 part baths
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$9,975,000 : 6800 Hillmead Rd, Bethesda6 beds, 7 full, 2 part baths
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$5,500,000 : 5918 Cedar Pkwy, Chevy Chase4 beds, 5 full, 2 part baths
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$5,500,000 : 10 Wissioming Ct, Bethesda5 beds, 7 full, 1 part baths
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$5,500,000 : 10120 Counselman Rd, Potomac7 beds, 7 full, 2 part baths
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$4,500,000 : 2118 University Blvd W, Silver Spring4 beds, 2 full, 2 part baths
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$4,850,000 : 9311 Rapley Preserve Dr, Potomac6 beds, 5 full, 3 part baths
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$7,250,000 : 10409 Stapleford Hall Dr, Rockville8 beds, 8 full, 4 part baths
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$4,990,000 : 8929 Harvest Square Ct, Potomac8 beds, 8 full, 4 part baths
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$5,695,000 : 7016 Natelli Woods Ln, Bethesda6 beds, 8 full, 2 part baths
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$5,250,000 : 19 Grafton St, Chevy Chase6 beds, 5 full, 1 part baths
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$4,495,000 : 9101 Burning Tree Rd, Bethesda8 beds, 10 full, 1 part baths
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$18,000,000 : 9005 Durham Dr, Potomac10 beds, 10 full, 5 part baths
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$5,250,000 : 8710 Fernwood Rd, Bethesda6 beds, 6 full, 2 part baths
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$4,995,000 : 7528 Hampden Ln, Bethesda5 beds, 5 full, 3 part baths
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$4,900,000 : 3810 Bradley Ln, Chevy Chase5 beds, 5 full, 1 part baths
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$10,000,000 : 10501 Chapel Rd, Potomac9 beds, 11 full, 5 part baths
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$4,995,000 : 10204 Iron Gate Rd, Potomac9 beds, 10 full, 3 part baths
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$4,949,494 : 9707 Key West, Rockville4 beds, 5 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
[...] Nice. Very nice indeed. The most breath-taking feature of this home, however, is it’s asking price at $9,900,000. Darnestown and North Potomac are amazing places to live, but super-affluent buyers in this area flock to Bethesda, Chevy Chase and Potomac (here’s an update of the luxury market in Montgomery County). [...]
[...] 2010, we saw one resale at $10M, then the next four highest sales prices were from $3.7M to $4.oM (here’s the full article). So how does that compare with [...]