April 21st, 2012 Categories: Market Updates
We did this month’s report at the C&O Canal in Potomac. This is easily one of the nicest places in Montgomery County.
Contracts activity over the last three months is still up compared to this time last year. In this month’s report, I also take a look at current inventory and inventory trends over the last 15 months. One trend that’s crystal clear: it’s much harder to find a nice entry-level home. The number of entry level homes available on the market has been going down every single month since 2011.
March 23rd, 2012 Categories: Market Updates
Contracts activity is on fire compared to this time last year. Take a look at the numbers – plus a look at median home price trends since 2009. Have home prices dropped off of a cliff during this time period? You may be surprised.
This end-unit, brick townhome has a big floorplan. You’ll love the big main level with oak hardwood floors, oversized bay windows and a recreation room with soaring ceilings and a brick fireplace. This home really sparkles. Click here to see tons of pics and all the details.
This colonial in Potomac Chase has a regal presence on a fantastic level yard. A huge floorplan, floor-to-ceiling windows, gorgeous kitchen, a large main level office and a big mud room are some of my favorite features. Take a Home Movie Tour and see the details at www.FalconbridgeTerrace.com.
February 13th, 2012 Categories: Market Updates
Housing inventory is typically low this time of year, but it seems like nothing’s available. In this months’ review of the Montgomery County real estate market, we take a look at inventory snapshots from over a year to see if inventory is in fact low, or if we just have really picky buyers (spoiler alert – inventory is in fact super low).
The video also takes a look at contract activity over the last three months of 2011 compared to the same period in 2010. Overall, contract activity is up a little. Dig a little deeper, however, and see that some areas are doing much better (or worse) than others.
It can be frustrating for buyers right now, but it’s a great time for sellers to enter the market. Inventory will definitely increase as springtime approaches. Contact us anytime if you are planning to buy or sell and we’ll let you know exactly what’s happening in your areas of interest.
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.
January 3rd, 2012 Categories: Market Updates
In 2011, did the market go up? Did it go down? Yes and yes. The direction of the housing market depended on the home’s price range, type and area. Here’s a detailed run through of it all.
January 3rd, 2012 Categories: In General
This site is a constant work in progress. Our hope is that it gets better, more informative and easier to use with each revision.
The home page has been decluttered and points visitors to featured content on the site. This page will definitely continue to change in the coming months, so expect a new look every few weeks.
More substantive changes have also been made. Primarily, the Schools Pages have hit the books. The main navigation map has been cleaned-up, and an interactive grid with each high school mascot was added for quicker access to schools of interest (how many high school mascots do you know?). We also went through a years’ worth of sales data by school cluster that allow you to quickly select a cluster and see its home pricing trends. Navigation for each school page was improved, and detailed test scores for all schools in all clusters were added. See an example for the Bethesda-Chevy Chase Cluster.
Another improvement was the addition of a comprehensive set of pages to help visitors understand how to find homes in Montgomery County. Check out the interactive zip code map (you gotta know your zip codes when looking for homes), and a comprehensive guide showing all home prices by home type within Montgomery County. We get lots of calls from buyers wanting to understand home prices when starting their search. This resource will hopefully be a great starting point to help buyers quickly zero-in on areas the meet their goals.
We hope you enjoy the changes. Your comments and feedback are always welcome.
Take a tour of Montgomery County and quickly get up to speed on home prices throughout the county.
We often get questions about homes that are under contract. When a home is first introduced to the market, it’s status is “Active”. Once ownership finally transfers, the status is “Sold”. That’s simple enough. In between, however, there are a couple of different ‘Contract’ statuses that can be confusing. Here’s an overview of typical listing status changes.
Contact us anytime with questions about homes in Montgomery County.