January 19th, 2012 Categories: Luxury Homes
The market for luxury homes in Montgomery County rebounded somewhat in 2011. In 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 2011?
Here’s the top 5 sales for 2011:
- 5215 Edgemoor Lane, Bethesda – $10M. This home didn’t hit the open market and had a tax assessment value of $2M. This is striking example that shows a home’s market value and it’s tax value are often worlds apart.
- 9121 Burdette Road, Bethesda – $5.8M. Another one that never hit the open market.
- 5630 Wisconsin Avenue #1701, Chevy Chase – $5M. This penthouse condo in Somerset has over 4,200 square feet of living space. The condo fee alone is over$ 3,300/month.
- 9000 Burning Tree Road, Bethesda – $4.365M. New construction in Bethesda.
- 9905 Bentcross Drive, Potomac – $4M. 30,000 square feet of living space with 9 bedrooms, 15 full baths, indoor pool, 6 car garage and more. Take a peek inside.
Looking at the top five sales in the last three years, 2011 was definitely stronger than 2010 and somewhat comparable to 2009. We’ll see how 2012 plays out.