Montgomery Village, MD 11/07/11

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.  This is a sign that change is coming.  With mortgage rates and Sale Prices at an all time low – the TIME TO BUY IS NOW!

Here are the Real Estate Statistics for Montgomery Village, Maryland for September 2011.

A number of large companies call Gaithersburg home including IBM, Lockheed Martin, MedImmune, Sodexo and the National Institutes of Standards and Technology (NIST).

The greater Montgomery Village area encompasses many small and large communities, and housing ranges from apartments, condos, luxury townhouses and moderately priced homes; large estates on several acres and compact track homes all make up the Gaithersburg community.

Montgomery Village centers around a large man-made lake and now includes a golf club, Lakeforest Mall and smaller centers for shopping and gathering with friends.  The many houses, townhomes and apartments in Montgomery Village offer a wide array of living accommodations for residents of Montgomery County.  The Montgomery Village Athletic clubs such as volleyball, wrestling, and soccer rival any in the county and have the reputation for producing star quality athletes.  Montgomery Village is a great place to call home.

Market data and commentary provided by Kathy Fleskes, Managing Broker, and Serena Toro of the Rockville Regional Office.

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

Montgomery County, MD 9/28/11

Montgomery County, Maryland is made up of many zip codes – the part of the county that I have chosen to focus on today is the 20853 area.

The Rockville neighborhoods that encompass the 20853 area are:

Aspen Hill Park,  Aspen Knolls, Bel Pre Woods,  Brookhaven, English Manor, Flower Valley, Manor Lake, Manor Village, Manor Woods, Norbeck Estates, Norbeck Manor, North Creek Village, North Creek Place, Park Terrace, Rock Creek Manor, Royal View, Smalls Nursery, Stoney Brook Estates, Sycamore Acres, Wheaton Woods, and I am sure there are few I have left out.

These neighborhoods are conveniently located near Rockville, Twinbrook and Shady Grove Metro Stations and are close enough to the center of Rockville to enjoy the Rockville Town Center which is built adjacent to the Montgomery County Courthouse.

You will find a wide range of housing opportunities in this ZIP code from condos, rental apartments and townhouses to large country club estates and luxury homes on several acres.

Visit one of these delightful neighborhoods in Rockville and you may just decide to stay.

The current population for this portion of Montgomery County is 27,142 with a total number of households at 9,304.

Here is what the Real Estate Market looks like in comparison to this same time last year:

Rockville 20853

AUG 2011 vs. AUG 2012

What Sells a Home in Rockville (20853) in Today’s Market?

Looking at these statistics, the market is not what it once was. You must be realistic about what selling in today’s market means. You value your home, but it may not be “worth” as much today as it was yesterday, last month, or last year.

It’s a common misconception that location is the leading factor of whether or not a home sells. It is, instead, price. Think about this scenario. You have a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousands of dollars over the comps for the area. No one will be interested. This same property priced just below the competition will fly off the market.

An accomplished, knowledgeable agent can be your biggest ally during the selling process. At Avery-Hess, Realtors our Agents know the latest market trends and have built a network of agents and contacts to whom to market your home. With an arsenal of marketing tools available, from video tours and webcasts to brochures, websites, and MRIS listings, this should be an important part of your selling strategy.

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

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

Montgomery County, MD 5/09/11

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!

Total Sold Volume for last month is up 1.83% over this time last year and up 66.39% from February.  With the Average Sold Price up 15.55% to $450,671, I can’t see prices dropping back down anytime soon.

The bottom of the Real Estate Market in Montgomery County has come and gone.  If you are one of those savvy buyers waiting for just the right time – I would have to say the time is now!

Looking for some fun outdoor activities to do this spring in Montgomery County?

One of my favorite places to explore, on a beautiful spring day in Montgomery County, is Brookside Gardens. Take a leisurely drive out Georgia Avenue to Wheaton to visit the Brookside Gardens.

Once there you will experience a magical visit filled with award winning gardens that take up 50 acres in Wheaton Regional Park.

A variety of educational programs for both adults and children are offered at Brookside Gardens.  The adult programs include lectures, guided walks, bus trips and workshops while the children’s programs include story times, hands-on activities, educational games, classes and summer camps. 

Admission to Brookside Gardens is free.  Can’t ask for more than that!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

Search for homes in Montgomery County, 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

Montgomery County, MD 2/14/11

Montgomery County is Maryland’s most populous jurisdiction and its most affluent. The County is located adjacent to the nation’s capital, Washington, D.C., and includes 497 square miles of land area. The topography is rolling with small hills. Elevations range from 52 feet above sea level near the District Line to 850 feet in the northern portion of the County near Damascus.

The first segment of the long debated/long awaited Inter County Connector between 370 and Georgia Avenue in Olney will be opening on February 22.   The Olney area itself is undergoing big changes with new restaurants like Green Turtle, Five Guys, Chipolte and Panera either open or opening soon and the upscale grocery store Harris Teeter is set to open in the spring. This is one of THE places to live in the county!

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.

Looking at Montgomery County last month (January 2011) I see many positives.   If we compare January 2011 with January 2010 improvements can be seen.  With an Average Sold Price of $440,671, which is up +9.06% over this time last year and the number of homes Under Contract/Pending Sales up 14.05% to 1070, I see recovery ahead.

This is certainly relevant information. But if you’re trying to decide whether to buy a house, its value can seem limited.

Home prices have fallen a ton in the past few years. Does that mean real estate is a bargain now? I think it is.  Especially, if you are renting and living in Montgomery County rents just keep rising – while the cost of purchasing has gone down.  We are at the bottom folks.  The time to buy is NOW!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

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

Montgomery County, MD 12/13/10

Montgomery County is a vibrant, bustling area, just minutes from Washington, DC by car or Metro.  The schools in the county are among the best in the nation.  The close proximity to Washington, DC and the Federal Government make it a desirable place to live and work.

Overall Montgomery County’s Housing Market is well on its way to a slow but sure recovery.   The Average Sold Price of $468,000 is up 16.15% from November of 2009, and up 5.31% from last month.  There were 697 homes that SOLD which is slightly more than last month(2.95%).

Here is another bit of good news.  The average Sold Price to average List Price Ratio is 93.09%.  Of course I would rather see 98% (or even 100%) of List Price but 93.09% is not bad at all!  With interest rates still at a historic low it is a great time to Sell or Buy Real Estate in Montgomery County!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

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