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MoCo Areas
- Bethesda
- Clarksburg
- Darnestown
- Gaithersburg
- Germantown
- North Potomac
- Olney
- Poolesville
- Potomac
- Rockville
- Silver Spring
Article Topics
Past Articles
- March 2010 (1)
- February 2010 (3)
- January 2010 (7)
- December 2009 (53)
- November 2009 (4)
- October 2009 (5)
- September 2009 (5)
- August 2009 (21)
- July 2009 (7)
- June 2009 (16)
- May 2009 (6)
- April 2009 (5)
- March 2009 (4)
- February 2009 (7)
- January 2009 (8)
- December 2008 (6)
- November 2008 (9)
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Sparkling Colonial in North Potomac
March 3rd, 2010 Categories: North Potomac, Our Homes
This sparkling colonial home is a rare find in the Wootton school cluster. I dare you to find a home with prettier hardwood floors on the main level. The kitchen and family room share an open space which is ideal for daily living. The kitchen is new and it’s a “Wow!” Check out all the details at www.CoralGablesWay.com.
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Pristine Three Level Townhome
February 26th, 2010 Categories: Gaithersburg, North Potomac, Our Homes
It’s rare to discover a home in any price range with the same condition of this end-unit townhome. Everything has been updated and everything is perfect. You’ll love the condition with renovated kitchen and baths, the stylish paint and new systems. Even better, this home enjoys a fantastic location walking distance to coffee shops, a grocery store and more. Take a virtual tour and get all the details at www.100PontiacWay.com.
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Montgomery County Inventory in February
February 20th, 2010 Categories: Market Updates
This month’s check on inventory looks a lot like January’s inventory. The number of homes on the market is 41% lower than February 2009, and distress inventory (foreclosures and shortsales) represent 18% of the homes on the market.
In the coming weeks, I’ll report on the number of contracts for 2010. By now I really expected to see an early spring market with many more homes entering the market, but the back-to-back blizzards effectively shut-down all real estate activity for early Feb. We’re speaking to a surge of buyers and sellers who are are ready to go, so I really expect March to be a busy month for real estate.
Contact us if you have specific questions about the market or are thinking about buying or selling in Montgomery County.
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5 Steps to Get Ready to Sell
February 18th, 2010 Categories: Selling
Declutter: Remove the “Stuff” in Your Home
This can be the most time-consuming and most important thing you do to help sell your home. “Stuff” in your home works against you in several ways. Stuff takes up space – space in your closet, space in your bedrooms, space in your primary living areas. In effect, stuff we’ve collected can make our home seem much smaller than it actually is. You don’t want buyers to think “The closets are too small”, “the living area is too cramped” or “there’s no room for a media center in the basement”. Buyers only know what they see. You don’t want them to see small, stuffy spaces because of your stuff.
Stuff is distracting. Buyers can’t help it: they will will look at your things. They’ll look at the pictures, the books, the Nick Knacks and everything else. You want them to see the gleaming hardwood floors, the high ceilings and the great view of the back yard. A home full of clutter will easily steal the show distracting buyers from your home’s best features.
And let’s be honest: Read the rest of this entry »
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Montgomery County Inventory for January
January 23rd, 2010 Categories: Market Updates
Available housing inventory for Montgomery County continued to shrink – down over 41% from January 2009, and 3.6% lower than the mid-December snapshot. The number of distress sales inched up a little from December. With lower overall inventory, distress sales as a percentage of the total is higher at 18%.
See All Homes for Sale in Montgomery County. Contact us anytime for questions about our market.
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Montgomery County Real Estate 2009 Year in Review
January 3rd, 2010 Categories: Market Updates
We’re already three days into 2010, but it’s not too late for a quick review of the Montgomery County’s real estate market for 2009. Although I wouldn’t call today’s market “normal”, our market definitely stabilized this year. Here’s some interesting stats for the year.
Most expensive sale in Montgomery County
According to our MLS, 9109 Harrington Drive in Potomac was the most expensive home sold in Montgomery County closing for $7,810,000. This Bradley Farms home featured 10 bedrooms, 11 full baths, an elegant interior and nearly 7 acres. It was originally priced at $11.8M when it entered the market in February, 2009. The home was listed with Washington Fine Properties.
Most expensive sale in the Metro D.C. area
211 Chain Bridge Road in McLean, Virginia sold in February for $16,000,000. This cozy cottage was completed in 2008, overlooks the Potomac River and features over 25,000 square feet of living space including 8 bedrooms, 9 full baths, 5 half baths, 5 car garage, indoor pool, indoor basketball court and elegant spaces for stylish entertaining. This custom estate was purchased by the Embassy of the State of Qatar.
Least expensive home sold in Montgomery County
Montgomery County has only a few mobile homes. When 19515 Frederick Road #191 in Germantown sold for $22,900 in July, it became the lowest priced sale for the entire County. Buying a home under $100,000 was unheard of a few years ago. In 2009, 245 homes sold for $100,000 or less. Our area is known for its high housing costs. In 2009, 72% of all homes were sold for $500,000 or less:
Number of Sales over $2M
The market for upper bracket homes was soft in 2009 with 64 homes selling for over $2M. With 103 homes available for sale, there’s currently over 1 year and 7 month’s inventory. Looking at the last ten years, 2009’s sales were less than half sold during the market’s peak in 2006. The graph below shows all resales and does not include many new homes constructed during this period which I roughly estimate to be around 400 homes.
Most popular zip codes
Sales in the following 10 zip codes made up over 52% of the sales for the entire county. Here’s a summary of each zip with the number of homes sold in 2009:
Zip codes with the highest sales volume
Sales volume is the product of the sales price and transaction volume. Montgomery County had over $4.4 billion in 2009 sales. Nearly 60% of the sales took place in the following 10 zip codes:
Zip codes with the hottest sellers markets
This is a measure of the area with the lowest inventory which is simply the number of homes available divided by the number of homes sold. This isn’t the definitive measure of an area’s real estate market. Looking at homes within an area and price range is a much better measure. Still, here’s 10 zip codes with the lowest inventory.
| Zip Code | Sold | Available | Inventory | |
| 20851 Rockville | 153 | 19 | 1.5 months | |
| 20877 Gaithersburg | 346 | 55 | 1.9 months | |
| 20879 Gaithersburg | 378 | 62 | 2.0 months | |
| 20814 Bethesda | 346 | 57 | 2.0 months | |
| 20855 Derwood | 140 | 24 | 2.1 months | |
| 20876 Germantown | 296 | 53 | 2.1 months | |
| 20874 Germantown | 806 | 152 | 2.3 months | |
| 20816 Bethesda | 233 | 44 | 2.3 months | |
| 20878 Gaithersburg | 650 | 126 | 2.3 months | |
| 20886 Montgomery Village | 494 | 97 | 2.4 months |
Zip codes with the hottest buyers markets
The higher the inventory, the bigger selection for homes buyers. Here’s the top 10 zip codes with the highest inventory in Montgomery County.
| Zip Code | Sold | Available | Inventory | |
| 20837 Poolesville | 46 | 23 | 6.0 months | |
| 20882 Gaithersburg | 109 | 54 | 5.9 months | |
| 20833 Brookeville | 48 | 19 | 4.8 months | |
| 20866 Burtonsville | 140 | 53 | 4.5 months | |
| 20906 Silver Spring | 785 | 296 | 4.5 months | |
| 20872 Damascus | 132 | 48 | 4.4 months | |
| 20871 Clarksburg | 184 | 64 | 4.2 months | |
| 20854 Potomac | 459 | 151 | 3.9 months | |
| 20905 Silver Spring | 144 | 47 | 3.9 months | |
| 20815 Chevy Chase | 327 | 96 | 3.5 months |
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Potomac Neighborhood Past Sales
January 2nd, 2010 Categories: Market Updates, Potomac
Not counting the last couple days of 2009, 451 homes sold for nearly $440 million in Potomac, Maryland. 2009 past sales for the most popular neighborhoods in Potomac can be accessed below. Check them out and let us know what you think. Contact us for information on these or other Potomac neighborhoods not listed here.
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