Damascus, MD Market Report – 11/25/09

25 Nov
November 25, 2009

Located in the northern end of Montgomery County, Damascus is a terrific place to live. Damascus has numerous Sports leagues, a volunteer fire department, the July Fireman’s Carnival, and several holiday parades. It’s like small town living used to be 40 years ago. Although the new Damascus Centre gives local residents a choice of two grocery stores and retail centers to choose from. A little known fact about Damascus is that it is still a “dry” city, meaning that no alcohol can be sold or served there. On your way to see Damascus, be sure to take time to stop and visit Butler’s Orchard off of Route 27.

Read on to find out more about the market conditions in Damascus, Maryland.

  • Homes for sale: 70
  • Closed sales: 11
  • Average sold price: $314,186
  • Average days on market: 77

Prices are stable in the Damascus region at this time after taking a big drop in the early and middle part of the recession. There is huge demand for homes as shown by the numerous multiple-offer situations that sellers are experiencing. Though inventory is down by 30% from the same time one year ago,  Damascus has homes in a wide range of prices. The majority of the housing in Damascus is single family detached or townhouses.

Market data and commentary provided by David Hess, Executive Vice President and Managing Broker. David raised his children in Damascus, who attended Damascus High School in the 1990s.

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

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