Posts Tagged ‘Maryland Real Estate’
Derwood, MD 11/28/11
The unincorporated area of Derwood lies east of Rockville, southeast of Gaithersburg, southwest of Olney and northwest of greater Silver Spring. The ZIP Code for all of Derwood is 20855. Many neighborhoods make up Derwood and it is served by quite a few Montgomery County Public Schools. The ICC (Route 200) runs directly through central Derwood and a number of residents were displaced and areas were affected by the construction.
The Shady Grove Metro station which opened in 1984 has helped the Derwood area to greatly expand in size also.
As you can see from the Market Statistics for the October 2011 Derwood is pulling out of this Real Estate down turn.
October 2011 Real Estate Market Statistics for 20855 Derwood, MD–
| Statistic | values | YoY | MoM |
| Total Sold Dollar Volume | $3,287,000 | -27.15% | +65.72% |
| Closed Sales | 8 | -20% | +100% |
| Median Sold Price | $375,000 | -11.66% | -27.36% |
| Avg Sold Price | $410,875 | -8.93% | -17.14% |
| Avg Days on Market | 96 days | +57.38% | -25% |
| Avg Sold to Orig List Ratio | 94.94% | +0.86% | +6.27% |
Derwood, Maryland is a quiet community in Montgomery County. I think of it, being a Realtor, as my secret weapon. Many locals know about Derwood – but surprisingly enough not as many as you think. I got an inquiry from a potential client who is being transferred to this area. They want a single-family home, 3+ bedrooms, garage, nice size yard, good schools, safe BUT most importantly walking distance or VERY CLOSE to a Metro stop. All of this, and they can pay no more than $400,000. Well in Montgomery County that is a very tall order. Derwood is a charming bedroom community that fits the mold for many anxious potential home owners.
While searching on line for a home, not many of us or our clients think to type in the city of Derwood. Who has even heard of it right? It’s time to find out. As a BUYERS AGENT, Derwood, MD maybe just what your client is looking for don’t miss this little known opportunity.
As a LISTING AGENT this is a bit trickier — sure you have just listed the PERFECT HOME at the PERFECT PRICE. Yet, no one is showing it. Marketing a home in Derwood because of its anonymity takes a bit more effort. Just placing one of these special properties in the MRIS is not going to cut it. MRIS is very rigid. As Realtors we all know that entering the city in as Rockville/Derwood will not work. I have to tell you that most of the individual websites that pull information from MRIS do allow it. So, going to all of the individual websites and making changes to increase exposure will increase traffic. Additional advertising MUST be done with properties in this area. Take a little time and spending a bit of money will get the job done. You and your clients will be smiling.
See the additional GOOD NEWS about Derwood Maryland. I find these statistics a breath of fresh air. What do you think?
Market data and commentary provided by Kathy Fleskes, Managing Broker, and Serena Toro of the Rockville Regional Office.
Search for homes in Derwood, and all of the DC Metro: www.averyhess.com
Frederick County, MD 10/26/11
Looking at these Statistics for Frederick County Maryland, the picture of September 2010 vs. September 2011 does not look favorable. The only gain seems to be in Days on Market, and no one wants to see that, except for the savvy real estate buyer/investor.
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $49,393,918 | -6.19% | -18.44% |
| Closed Sales | 195 | -6.25% | -14.1% |
| Median Sold Price | $232,000 | +2.23% | -0.43% |
| Avg Sold Price | $253,302 | +0.06% | -5.05% |
| Avg Days on Market | 111 days | +16.84% | +13.27% |
| Avg Sold to Orig List Ratio | 90.96% | -1.07% | -1.79% |
The Real Estate Market is very cyclical. It goes up and it goes down, but it is always doing something. The question is how much farther will it go in Frederick County? I don’t have a crystal ball but the signs I see indicate the bottom has hit: Low interest rates, low prices, and an ever increasing population. Buyers can’t keep holding out for much longer – the time to buy is NOW! Not only in Frederick County Maryland but everywhere!
According to Inman News™, US Census and the Mortgage Bankers Association: A housing shortage is coming in the not so distant future:
There are two primary factors that will contribute to a home shortage in the not-too-distant future:
1. The size of Generation Y (those born between 1977 and 1994), which is estimated to be approximately 80 million, or 25 percent of the U.S. population. They are now entering their prime time for starting their careers, their families, and for buying a home.
2. Supply. There has been very little new construction, despite the predicted explosion in population growth. To illustrate the severity of this problem, the 2010 census put the U.S. population at approximately 309 million. By 2050, the prediction is that the U.S. population will be 439 million. That’s an increase of 130 million people in just 40 years. Regardless of whether they own or rent, they will still need housing.
Buyers it’s time to WAKE UP – there is only a finite amount of housing out there and our population growth is not slowing down. The time to buy is NOW! Not only in Frederick County Maryland but everywhere!
Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.
Search for homes in Frederick County, and all of the DC Metro: www.averyhess.com
North Potomac, MD Market Report – 8/17/11
The editors of Money Magazine have rated North Potomac #3 on the Best Places to Live list. WOW!
1. Holmdel, NJ
2. Southborough, MA
3. North Potomac, Maryland
Population: 24,909
Median family income (per year): $147,594
North Potomac was created in 1988 from the cities of Gaithersburg, Potomac and Rockville and lies parallel to the Potomac River. Now we all know why Money Magazine rated North Potomac #3, with a Median Family Income of $147,594 per year – we have no doubt.
I would say that it is North Potomac’s, proximity to Washington D.C. and Nationally Recognized Schools that also make it one of the most desirable places to live.
Here is a snap shot of North Potomac’s Real Estate Market for last month:
July 2011 Real Estate Market Statistics for 20878 North Potomac, MD
| 2011 vs. 2010 | Jul ‘11 vs. Jul ‘10 | ||
| Total Sold Dollar Volume | $27,637,952 | -26.11% | -31.24% |
| Closed Sales | 57 | -24% | -29.63% |
| Median Sold Price | $460,000 | 0% | +0.02% |
| Avg Sold Price | $484,876 | -2.78% | -2.29% |
| Avg Days on Market | 50 days | +51.52% | +11.11% |
| Avg Sold to Orig List Ratio | 95.93% | -1.77% | -0.65% |
Taking a quick glance at these stats – it isn’t as bad as the national news is saying, but it sure doesn’t look fabulous.
No one wants to see the percentage of Total Sold Dollar Volume go negative (-31.24% in this case) or the Average Days on Market Increase (+11.11%).
It is true that this economic down turn has affected even the best of areas. BUT the information that this table fails to mention is that New Pending Sales (under Contract) are up +1.82% over this time last year, the Detached (single-family homes) Average Sold Price is up to $700,140 from $691,856.
Although this small increase is only +1.20%, I see it coupled with the minimal difference in Sold Price vs, List Price of -0.65%,
Is this a possible sign that this Real Estate Market is improving? I like to think so. Although it could be argued that Sellers are just pricing their homes more in line with the market? Only time will tell.
Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.
Search for homes in North Potomac, and all of the DC Metro: www.averyhess.com
Frederick County, MD 5/31/11
The Real Estate Market in Frederick, MD is a mixed bag of statistics (see charts below). With four zip codes: 21701, 21702, 21703, and 21704, to cover – the news is not as positive as I would like. For the most part all categories are down over this time last year. But if you remember, the Spring of 2010; The Fed did artificially stimulate the market, with the First Time Home Buyer Tax Credit.
If we compare these numbers with last month (March 2011): robust improvements can be found in all but one zip code in Frederick. The SOLD Dollar Volume numbers for April 2011 of this year have shown significant improvements over last month, jumping as much as +68.96% in 21703.
With interest rates in the 4% range – Buyers are out there! When the numbers for May 2011 are posted, for Frederick, Maryland, I expect even more improvement.
April 2011 Real Estate Market Statistics for: 21701 Frederick, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $9,904,059 | -25.66% | +19.94% |
| Closed Sales | 44 | -16.98% | +22.22% |
| Median Sold Price | $212,454 | -8.03% | +3.38% |
| Avg Sold Price | $225,092 | -10.46% | -1.87% |
| Avg Days on Market | 101 days | -5.61% | -27.86% |
| Avg Sold to Orig List Ratio | 90.03% | -4.46% | -2.98% |
April 2011 Real Estate Market Statistics for: 21702 Frederick, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $4,895,895 | -57.88% | -41.66% |
| Closed Sales | 27 | -48.08% | -27.03% |
| Median Sold Price | $169,000 | -13.97% | -17.56% |
| Avg Sold Price | $181,329 | -18.88% | -20.05% |
| Avg Days on Market | 100 days | +26.58% | -9.91% |
| Avg Sold to Orig List Ratio | 90.81% | -5.59% | -1.56% |
April 2011 Real Estate Market Statistics for: 21703 Frederick, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $8,819,050 | -33.83% | +68.96% |
| Closed Sales | 52 | -17.46% | +67.74% |
| Median Sold Price | $162,000 | -15.14% | +4.52% |
| Avg Sold Price | $169,597 | -19.83% | +0.73% |
| Avg Days on Market | 93 days | +24% | -7.92% |
| Avg Sold to Orig List Ratio | 87.77% | -8.83% | +0.05% |
April 2011 Real Estate Market Statistics for: 21704 Frederick, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $5,996,250 | -5.16% | -12.12% |
| Closed Sales | 17 | +6.25% | -10.53% |
| Median Sold Price | $350,000 | -21.17% | +15.51% |
| Avg Sold Price | $352,721 | -10.74% | -1.78% |
| Avg Days on Market | 106 days | +140.91% | +3.92% |
| Avg Sold to Orig List Ratio | 92.31% | -6.88% | -3.23%
|
There is so much to do in Frederick that it is hard to know where to begin. Civil War battlefields, parks, museums, wineries, zoos, minor league ballgames, historic sites, antique shops, farm markets and more.
Not far from DC, the drive up 270 from the Washington suburbs is an easy one. As you near the Frederick area, you will see why so many people choose to live here – the view as you crest the rise on 270 is a spectacular one, with mountains in the background and the city spread out before you. You might like it so much you won’t want to leave!
Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.
Search for homes in Frederick County, and all of the DC Metro: www.averyhess.com
Rockville, Maryland Market Report – 5/17/11
Reporting on the Real Estate Market in Rockville, Maryland is not always simple. Rockville is located in Montgomery County, spanning five zip codes. I am beginning to see a NEW more positive Real Estate Market take shape and I have high hopes for the Spring Market.
Looking back at April 2011; Rockville runs the gamut starting with Total Sold Dollar Volume: of $2,755,000 in 20850 all the way up to $27,365,900 in 20854.
Overall the Sold Dollar Volume is down with one exception: 20853, which is up +17.79% over this time last year ($8,494,000). This wide range can be seen throughout Rockville. It’s all about location in Real Estate and these charts definitely reflect that.
April 2011 Real Estate Market Statistics for: 20850 Rockville, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $20,054,908 | -7.09% | +3.25% |
| Closed Sales | 37 | -17.78% | +5.71% |
| Median Sold Price | $581,000 | +32.08% | +8.6% |
| Avg Sold Price | $542,025 | +13% | -2.33% |
| Avg Days on Market | 44 days | +2.33% | -22.81% |
| Avg Sold to Orig List Ratio | 98.41% | -0.32% | +3.03% |
April 2011 Real Estate Market Statistics for: 20851 Rockville, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $2,755,000 | -45.13% | +16.15% |
| Closed Sales | 10 | -37.5% | +11.11% |
| Median Sold Price | $281,000 | -12.46% | +14.69% |
| Avg Sold Price | $275,500 | -12.21% | +4.54% |
| Avg Days on Market | 58 days | +262.5% | -28.4% |
| Avg Sold to Orig List Ratio | 89.17% | -9.95% | -8.45% |
April 2011 Real Estate Market Statistics for: 20852 Rockville, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $14,444,400 | -31% | -13.78% |
| Closed Sales | 33 | -35.29% | -15.38% |
| Median Sold Price | $409,000 | +7.92% | +9.07% |
| Avg Sold Price | $437,709 | +6.63% | +1.89% |
| Avg Days on Market | 40 days | -31.03% | -55.56% |
| Avg Sold to Orig List Ratio | 95.92% | +0.56% | +1.02% |
April 2011 Real Estate Market Statistics for: 20853 Rockville, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $8,494,000 | +17.79% | +13.79% |
| Closed Sales | 22 | -4.35% | 0% |
| Median Sold Price | $359,250 | +28.3% | +3.69% |
| Avg Sold Price | $386,091 | +23.15% | +13.79% |
| Avg Days on Market | 109 days | +118% | +73.02% |
| Avg Sold to Orig List Ratio | 93.96% | -2.94% | -0.59% |
April 2011 Real Estate Market Statistics for: 20854 Rockville/Potomac, MD
| Statistic | Values | YoY | MoM |
| Total Sold Dollar Volume | $27,365,900 | -37.33% | -41.65% |
| Closed Sales | 31 | -31.11% | -20.51% |
| Median Sold Price | $775,000 | -13.79% | -8.72% |
| Avg Sold Price | $882,771 | -9.03% | -26.59% |
| Avg Days on Market | 87 days | -15.53% | -30.4% |
| Avg Sold to Orig List Ratio | 94.19% | -0.12% | +1.67% |
As we begin to see this NEW more positive Real Estate Market take shape in Rockville – Avery Hess, Realtors is prepared.
ROCKVILLE, MARYLAND — THE FUTURE IS NOW!
A NEW office for a NEW REAL ESTATE MARKET!! Avery Hess, Realtors is proud to announce the opening of their new Rockville Branch. I feel honored to be part of a company that understands what agents and consumers need.
The Rockville Avery-Hess, Realtors office has a new location – 6001 Montrose Road, Suite 101. The new set-up is bright and modern. Bring your laptop and sit in a beautiful new workstation or utilize the two conference rooms with wall-mounted flat screen monitors for clients to view properties.
Avery-Hess Sales Associates benefit from the most progressive working environment in Real Estate. We define our business model as consumer-centric—a model that focuses the effort of our entire team on the most important part Real Estate, the CLIENT. Our entire suite of technology, products, and services has been designed in order to serve the needs of today’s Real Estate consumer.
To put it in bluntly Avery-Hess, Realtors is about getting the job done. Getting the property SOLD, finding that perfect home, doing MORE business using the latest TECHNOLGY, generating MORE LEADS, in a NO FEE environment. Stop by and see our new space, you may just want to stay!!
Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.
Search for homes in Rockville, and all of the DC Metro: www.averyhess.com
Kensington, MD Market Report – 4/20/11
Since its establishment in 1894, Kensington has been a wonderful place to live and explore. Residents of Kensington are proud of their tree-lined streets, gardens and parks that are reminiscent of the town’s early years. There are many small enclaves of homes ranging from large mansions to smaller cape cods and ranchers. Home prices range from the $300,000 to $1 Million+.
Although the town itself is less than one square mile, it is surrounded by the Montgomery County suburbs and is accessible to the county transportation system; making it a convenient place to live. The town has its own Mayor and although it relies on the county for some services, it does manage many services on its own.
The citizens of Kensington are among the few that can honestly brag that the Real Estate bottom has come and gone. With a Total Sales Volume of $8,010,210 just last month, which is up not only 2.05% over last month, and up 80.39% – yes, I said – 80.39%, over this time last year!
Before prices climb any higher you may want to join the residents of Kensington; who love the small town life, its unique shops, restaurants as well as the easy access to the Washington D.C.
Market data and commentary provided by Kathy Fleskes, Rockville Managing Broker and Serena Toro, Rockville Administrative Manager.
Search for homes in Kensington, and all of the DC Metro: www.averyhess.com
