Reminder: Help During the Holidays

As the 2009 holiday season winds down, we at Avery-Hess would like to take the opportunity to encourage you not to forget the less fortunate during the holidays, and all throughout the year. In addition to collecting donations for the Marines Toys for Tots Foundation and purchasing gifts for a family through a local church, we contributed to the Housing Opportunities Commission (HOC) of Montgomery County, Maryland. In lieu of a gift exchange, members of Avery-Hess’ Rockville Regional Office gave donations to benefit others.

The HOC is Montgomery County’s housing authority. They provide affordable housing and supportive services for low- and moderate-income families and individuals throughout the county. To learn more about the HOC of Montgomery County, visit their website at: www.hocmc.org.

At the Rockville office’s holiday luncheon, Executive Vice President David Hess shared a few words about the charitable contributions made by staff members and agents of Avery-Hess’ Rockville, Maryland Regional Office.

Avery-Hess Rockville Office Holiday Giving from David Tra on Vimeo.

Search for homes and learn more about Avery-Hess: www.averyhess.com

Stafford, VA Market Report – 12/23/09

Stafford County saw approximately 800 new jobs added in the first two months of the third quarter of this year. Steady employment in Stafford and the surrounding area will help maintain and eventually increase demand for housing in this Washington, DC bedroom community. The following information represents the real estate market in Stafford County, Virginia in November 2009:

The Stafford market is currently favorable for buyers. Average sales price has decreased 9% since this time last year, interest rates are low, and in some cases closing costs are being paid for. On the other hand, our listing inventory has decreased 19.3% since last year. And while the amount of foreclosures has been decreasing as well, there are still a good number of short sales, regular sales, and relocations. With that being said, there are not as many homes coming onto the market, so if you see one you love, don’t wait—especially if you are looking at homes priced $200,000 and under.

Another important statistic to pay attention to is the percent of original list price received at sale. In November we saw homes receiving an average of 96.2% of asking price, up 7% from last year. This means that buyers will have to make better offers than they would have made earlier this year due to the decreasing inventory. At the same time, this also means that sellers are receiving close to their original asking price, assuming the home is priced right and shows well.

Market data and commentary by Amy Cherry Taylor, Business Manager and Realtor at Avery-Hess, Realtors.

Search for homes in Stafford, and the rest of the DC Metro: www.averyhess.com

Derwood, MD Market Report – 12/22/09

The statistics below reflect the housing market in Derwood, Maryland:

• Homes for sale: 41
• Closed sales: 14
• Average sold price: $459,100
• Average days on market: 111

Derwood’s average sales price is 2% higher than the same time last year and its inventory of houses for sale is 38% less than last year. In fact, now there are only 41 houses for sale with a Derwood address. The vast majority of these houses with Derwood addresses are single family detached homes built 20-30 years ago.

Derwood is located just north of the center of Montgomery County, between Gaithersburg and Rockville. Residents live close to the Shady Grove Metro Station, which is the northernmost station on the western side of Metrorail’s Red Line. Derwood also has easy access to some great connector and commuter roads such as Shady Grove to I-270, Mid County Highway up into Gaithersburg, and in the future, the Inter-County Connector into Prince George’s County.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Derwood, and all of the DC Metro: www.averyhess.com

Arlington, VA Market Report – 12/21/09

Last month I closed my report by suggesting that perhaps we were beginning to see a return to normalcy in the Arlington market. The November statistics show a significant improvement over the same period last year. Compared to the previous month the numbers are relatively stable with one exception. Here are the latest numbers from Arlington, Virginia.

• Active listings: 803
• Closed sales: 230
• Pending sales: 213
• Average sold price: $509,003
• New Listings: 208
• Average days on market: 53

The significant concern is a 50% drop in new listings from October, resulting in a 15% drop in the total number of homes currently on the market. Declining inventory is problematic in a period where incentives are provided to both first-time and move-up buyers. This drop in inventory could be attributed to a seasonal change. Some homeowners may have decided to wait until early spring to list their homes because the Federal Housing Tax Credit has been extended to the end of April and they anticipate prices to be more favorable then. Regardless, it remains a good time for buyers with favorable interest rate, and reasonably priced homes.

Market data and commentary by Charles J. Carroll, Managing Broker at Avery-Hess, Realtors.

Search for homes in Arlington, and the rest of the DC Metro: www.averyhess.com

Takoma Park, MD Market Report – 12/21/09

The data below represents the current housing market in Takoma Park, Maryland:

• Homes for sale: 232
• Closed sales: 64
• Average sold price: $342,818
• Average days on market: 63

Takoma Park is blessed with a terrific location on the edge of Washington, DC. It is partly in Prince George’s County and partly in Montgomery County in Maryland. It is a very walkable city and is also served by bus and Metrorail. Much of Takoma Park was built in the early 1900s and there are newer homes on infill locations.

Prices are 8.3% lower versus the same time as last year and inventory has been reduced by 39%. Prices are still dropping according to the statistics.

Takoma Park is an eclectic city as evidence by things such as being a Nuclear Free Zone and other interesting political issues.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Takoma Park, and all of the DC Metro: www.averyhess.com

Centreville, VA Market Report – 12/18/09

Centreville is a very popular place to live due to the numerous retail opportunities and a plethora of restaurants in all price ranges. It provides easy access to Route 29 and Route 66 for commuting to Washington DC, Fairfax and Tysons Corner–in addition to all of the employment opportunities along Route 28 in Chantilly and Sterling.

The report below reflects the current market in Centreville, Virginia:

• Homes for sale: 332
• Closed sales: 98
• Average sold price: $306,090
• Average days on market: 33

Last month there was very little change statistically in the average sales price from the same time period one year ago. The month before that, house prices were down 10% compared to one year ago. However, this month the numbers show prices up 3.8% from one year ago. Clearly, Centreville is now joining the ranks of markets where the stats show stability to increasing prices.

Growing consumer confidence, an extension and expansion of the Federal Housing Tax Credit, along with investors looking for long term, high growth investments are moving more buyers into the market.

Market data, commentary and statistics provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Centreville, and all of the DC Metro: www.averyhess.com