Real Estate Information

Market Update for Bethesda, Maryland 20817 

A total of $28.50 million worth of homes sold in zip code 20817 during May, a drop of 7.63% compared to May of last year. 

The median price was up slightly -- by 3.12% -- and the total number of homes sold was down 17.07% during this time frame. 

Given the uptick in activity we’ve been seeing in nearby zip codes, the sales downturn in 20817 is anomalous, and we suspect, short-term.  We’ll keep you posted.

Home Sales in Potomac, Maryland 20854 

A total of $40.36 million worth of homes sold in Potomac during May – a 93.18 percent increase compared to May of last year. 

The median price of homes that sold was up 14.98 percent and the number of units sold increased by 88.46 percent compared to last year. 

Also, the average days on the market for homes that sold dropped 65.71 percent… all around good news for sellers.

Market Update for Chevy Chase, Maryland 20815 

During May a total of $22,085,419 worth of homes sold in zip code 20815, which is an increase of 21.98% compared to May of last year. 

The median price of homes that sold was up 11.79% and the number of homes sold increased by 23.08%, so it was a good month for home sellers in Chevy Chase.

Real Estate Update for Rockville, Maryland 20852 

A total of $25.4 million worth of homes sold in Rockville during May 2010, which represents a 44.50 percent increase over May 2009. 

The median price of homes sold was down 7.66 percent, but the number of homes that sold increased by 54.05 percent during this timeframe.

Homes Sales in Gaithersburg, Maryland, 20878 

During May a total of $41,638,497 worth of homes sold in zip code 20878, an increase of 88.57 percent over May of 2009.

The median price of homes sold was up 8.80 percent, and the total number of homes sold jumped by 74.00 percent during that same timeframe. 

So thing are heating up….

Montgomery County, Maryland Real Estate Update 

A total of $457,199,840 worth of homes sold in Montgomery County during this May, which is a 23.04 percent increase over May of 2009.  It is also a substantial increase over April 2010. 

The median price of sold homes was down slightly – by 1.99 percent – and the total number of homes that sold was up 23.34 percent compared to last year. 

So the upward trend in number of sales that we witness last month has continued apace....

Mortgage Interest Rates Continue to Drop 

Rates on 30-year mortgages averaged 4.84% last week, according to the analysts at Freddie Mac.  This is the lowest level this year, and near the lowest rates since the 1960’s. 

This has come as a surprise to many observers, who had expected rates to begin rising with the end of the Federal Reserve’s mortgage-securities purchase program.  The expectation was that rates would rise, once the Fed stopped bailing out the market. 

But… the tumultuous financial situation in Europe has provided unanticipated relief for American homebuyers.   The reason:  international investors are pulling money out of Europe and sending it to what they see as the relative safety of the U.S. bond market.  This, in turn, is driving down mortgage yields.

Home Sales in Gaithersburg, Maryland, 20878

A total of $38.4 million worth of homes sold in the zip code 20878 portion of Gaithersburg during April 2010, which is a 154.04 percent increase over April of 2009.

The median sold price of homes was unchanged over that timeframe, and the total number of units sold was up 142.86 percent.

Home Sales in Montgomery Village, Maryland, 20886

A total of $11,055,423 worth of homes sold in Montgomery Village during April 2010 -- a whopping 135.23 percent increase over sales in April 2009.

The median sold price of homes was up 8.52 percent, and the number of units that sold doubled compared to the previous year.

It is still not certain that we've shifted from a buyers market to a sellers market, but these numbers are pointing in that direction.  Once the May numbers are out, we'll have a better understanding of whether this is a trend or an aberration.  Will keep you posted!

Germantown, Maryland Real Estate Update - Zip Code 20876

Germantown is another area that experienced a surge of real estate activity last month.

In April, $7.8 million worth of homes sold in zip 20876, which is up 75.21% compared to April 2009.

The median selling price increased slightly -- by 1.37% -- and the total number of units sold was up 61.11 percent.

If you'd like additional details, or a report for a specific neighborhood, just send us an email or call us and we'll get the information to you.