Avery-Hess, Realtors Blog » Rockville

Montgomery County, MD 9/28/11

Kristin Maynard — Wed, 28 Sep 2011 18:23:03 +0000

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

Total Sold Dollar Volume	$10,652,850	+6.86%	-8.82%
Closed Sales	29	+11.54%	-12.12%
Median Sold Price	$322,500	-7.19%	-10.91%
Avg Sold Price	$367,340	-4.2%	+3.75%
Avg Days on Market	55 days	+30.95%	-3.51%
Avg Sold to Orig List Ratio	93.89%	+0.16%	-0.38%

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

Rockville, Maryland Market Report – 5/17/11

Kristin Maynard — Tue, 17 May 2011 21:03:48 +0000

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

Rockville, Maryland Market Report – 1/4/11

Kristin Maynard — Wed, 05 Jan 2011 02:04:15 +0000

Although November 2010 sounds like such a long time ago, it really has only been around 45 days. Remember we all had the holidays just around the corner and FLASH -Here we are in a brand new year with many positive things to look forward to.

Looking back – Rockville, Maryland had an increase in Average Sales price in November 2010 in comparison to November 2009. This was not a small increase either – prices went up from $382,927 (2009) to $435,976 (2010). This was due in part to less inventory and favorable interest rates.

The number of active listings is down from 495 in November 2009 to 461 in November 2010.

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.

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!

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

Rockville, Maryland Market Report – 11/9/10

Kristin Maynard — Tue, 09 Nov 2010 17:38:29 +0000

Here’s my overall analysis: 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:

# of Homes for Sale: 543 (compare to 520 in August and 495 in September 2009)
# of Homes Sold: 96 (down from 113 in August, and down from 125 at same time last year)
Median Home Price: $397,366 (up from $415,354 in August, and up from $400,507 one year ago)
Average days on the market: 65 (up from 55 in August, and down from 74 one year ago).

Being located in the center of the county and having many transportation, shopping and entertainment options makes Rockville a very desirable place to live. You can enjoy dinner at one of the many restaurants along Rockville Pike and in the Town Center. With the end of daylight savings time, you can enjoy long evenings with the family in one of the many lovely communities spread around Rockville.

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 10/6/10

Kristin Maynard — Wed, 06 Oct 2010 15:01:56 +0000

Here’s my overall analysis: 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. Houses are on the market for about a month less than they were this time last year and today’s prices are slightly higher. Interest rates are lower and are pretty much at the lowest level they have been in 30 years. My expectation is for a stable market for the balance of the year.
Market Statistics for Rockville, Maryland:

# of Homes for Sale: 520 (compare to 515 in July and 498 in August 2009)
# of Homes Sold: 113 (down from 122 in July, and down from 124 at same time last year)
Median Home Price: $374,250 (up from $349,600 in July, and up from $365,750 one year ago)
Average days on the market: 55 (up from 42 in July, and down from 74 one year ago).

Being located in the center of the county and having many transportation, shopping and entertainment options makes Rockville a very desirable place to live.

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 8/10/10

Kristin Maynard — Tue, 10 Aug 2010 16:51:44 +0000

Let’s look at the big picture: Fewer houses are for sale than there were one year ago, but more houses have sold. Houses are on the market for on average a month less than they were this time last year and today’s market prices are about the same or slightly higher. Interest rates are lower and are pretty much at the lowest level they have been in 30 years. 168 people bought a house in Rockville last month, should you?

Market Statistics for Rockville, Maryland:

# of Homes for Sale: 537 (compare to 525 in May, 537 in April and down from 570 at the same time last year)
# of Homes Sold: 168 (up from 151 in May, and up from 139 at same time last year)
Median Home Price: $386,750 (up from $375,350 in May, and up from $375,825 one year ago)
Average days on the market: 49 (down from 53 in May, and down from 75 one year ago). Continued reduction in time on market shows increasing demand.

Why Rockville? Strip shopping centers, large upscale stores and centers, restaurants, hotels, condos, apartments, office complexes, auto dealers, and everything else imaginable are found along Rockville Pike.
The Twinbrook and Rockville Metro stops are easily accessible and the MARC train also stops in Rockville. Rockville Town Center with its restaurants, apartments, condos, movie theaters and shops has brought new life to a once tired area of the city.

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 7/9/10

Kristin Maynard — Fri, 09 Jul 2010 16:10:54 +0000

While the statistics show increasing strength in the market, which is correct, the rapid gain in price may be more a function of the “trade up market” than the numbers reveal. What is the Trade Up Market? This is when an existing homeowner sells their house and buys a more expensive property. The result is that there are more sales in the higher price ranges which has the effect of pulling up the averages. While this is good and is a sign of strength, when it first starts, as is now happening, it creates a statistical surge.  Market Statistics for Rockville, Maryland

# of Homes for Sale: 525 (down from 599 in May, 537 in April and down from 586 at the same time last year)
# of Homes Sold: 151 (up from 128 in May, 96 in April, and up from 111 at same time last year)
Average Home Price: $407,377 (up from $375,747 in May, $336,663 in April and up from $389,344 one year ago)
Average days on the market: 53 (up from 40 in May, but down from 62 in April, down from 92 one year ago). Continued reduction in time on market shows increasing demand.

The home buyer tax credits probably had the effect of shifting some demand forward, similar to what the “Cash for Clunkers” did to car sales. So I am expecting a bit of a reduced volume of transactions until September when we get back to “normal.”

A little about Rockville: Richard Montgomery High School is a premier magnet county high school which draws students from all over the county. Montgomery College, Johns Hopkins University and the University of Maryland at Shady Grove all have campuses in Rockville.

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 6/1/10

Kristin Maynard — Tue, 01 Jun 2010 20:37:12 +0000

The sales action is still predominantly in the lower price ranges in Rockville. This is holding back the average and median prices. Other parts of Montgomery County, MD’s stats are showing increases due to the rise of a trade up market. The Rockville stats are not yet reflecting that.

Market Statistics for Rockville, Maryland

# of homes for sale: 599 (up from 537 last month, and stable with 603 for sale at the same time last year)
# of homes sold: 128 (up from 96 last month, and up from 110 at same time last year)
Median Home Price: $354,113 (up from $336,663 last month but down from $378,881 one year ago)
Average days on the market: 40 (down from 62 last month, down from 83 one year ago). Continued reduction in time on market shows increasing demand.

Rockville is the second largest city in Maryland and the county seat of Montgomery County. The agencies of the Department of Health and Human Services as well as numerous software and biotech companies make their home in Rockville.

The revitalization of the Rockville Town Center has brought new life to a once tired and run-down area of the city and the apartments, condos, restaurants and shops as well as the square with its fountains and entertainment are a gathering place for all.

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 5/5/10

Kristin Maynard — Wed, 05 May 2010 18:52:53 +0000

The real estate market in Montgomery County has been gaining strength steadily since December 2008 when prices bottomed. As the county seat, Rockville is an active area, both the newly built downtown and in the surrounding neighborhoods. Fallsgrove and King Farm are two planned communities in the Rockville “suburbs”and afford a range of housing options for both the single professional and the family Both communities, as well as downtown/Oldtown Rockville are also very “walkable.”

Multiple contracts are very common on prices under $360,000. Also, after two years of tightening, real estate mortgage lending seems to be getting easier for qualified buyers.

Market Statistics for Rockville, Maryland

# of homes for sale: 537 (way up from 423 in February, down from 558 same time last year)
# of homes sold: 96 (up from 74 in snowy February, and up from 85 at same time one year ago)
Median Home Price: $336,663 (down from $349,125 last month and down from $348,225 one year ago)
Average days on the market: 61 (up from 58 last month, down from 83 one year ago)

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com

Rockville, Maryland Market Report – 4/7/10

Amit Kulkarni — Wed, 07 Apr 2010 19:30:36 +0000

The real estate market in Montgomery County has been gaining strength steadily since December 2008 when prices bottomed. Rockville as the county seat is a very popular place to live and that popularity is reflected in the market statistics shown below.

Multiple contracts are very common on prices under $350,000. Also, after two years of tightening, real estate mortgage lending seems to be getting easier for qualified buyers. It is either getting easier or those of us in the business have just gotten used to it so it feels easier!

Market Statistics for Rockville, Maryland (20850, 20851, 20852, 20853)

# of homes for sale: 423 (down from 526 last year)
# of homes sold: 74 (up from 69 last month, and up from 63 at same time one year ago)
Median Home Price: $349,125 (up from $334,988 one year ago)
Average days on the market: 58 (way down from 124 one year ago)

Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors

Find Your Home. Plan Your Life. www.averyhess.com