Like much of our country the Montgomery Village Real Estate market is struggling. The only real POSITIVE for the month of September is that the MEDIAN SOLD Price has increased.
On the outskirts of Washington, D.C., just over the border in Northwest, lies a place that will take you back decades.
Glen Echo Park, in Montgomery County, Maryland, was originally built in 1891, conceived as a Chautauqua, a location for an adult education movement that was sweeping the nation, a place were people would take classes in religion, dancing and entertainment.
Buyers, if you are thinking about making a Real Estate purchase, the time to buy is NOW! I know as a potential buyer, you may have heard this before – but I am looking at the statistics for Montgomery County, MD and these numbers are slowly improving!
Silver Spring, Maryland is certainly SHINING!
Like the beautiful city itself, housing in Silver Spring is seeing some shiny spots, despite all the doom and gloom the media is continually throwing at all of us. The Real Estate Market Statistics for zip codes 20905 and 20912 are moving in the right direction.
The real estate market in the county is showing improvement over 2010, sales are up as are listings and the average sale price. We are still seeing a fair amount of new construction throughout the county and the prices for these new homes are well within the reach of current buyers.
Montgomery County is a vibrant, bustling area, just minutes from Washington, DC by car or Metro. The close proximity to Washington, DC and the Federal Government make it a desirable place to live and work.
There have been less unites for sale than one year ago when had Home Buyer Stimulus #1. So comparing this time period to last year is not an equal comparison. But that said, here are the statistics for Rockville, Maryland:
My prediction is that the market will be slow until after January due to the uncertainties of the elections, repeal of ObamaCare, the negative attention over foreclosure “Robosigners,” and the general malaise among many people caused by their concerns and anxiety for the future of the American Free Enterprise system.
There is around a four percent increase in homes for sale this year compared to the number for sale one year ago. However, the numbers of units sold is about about nine percent lower. The current average days on market, is still below what it was last year but it does continues to rise.
Since we have a stabilized unemployment rate and low interest rates what I expect to happen is similar to what happened in the car business after “Cash for Clunkers” ran out; the market will return to equilibrium over a three to six month period. The market will continue to stabilize as long as we can avoid any more government stimulus.