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.
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.
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!
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!
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.
Montgomery County is a vibrant, bustling area, just minutes from Washington, DC by car or Metro. The close proximity to Washington, DC and the Federal Government make it a desirable place to live and work.
Compared to last year’s statistics, the market has stabilized and is continuing to improve. Average sales price, at $277,968 now, is one percent higher than the same period one year ago.
Burtonsville is located at the crossroads of Maryland Route 29, which is a major north-south road, and Maryland Route 198, which is a major east-west road. It is very close to the Howard County border and the Prince Georges County border. It is also near the midpoint between the employment centers of Columbia, Maryland and Washington, DC.
The following describes the market conditions in Burtonsville, Maryland:
Homes for sale: 73
Closed sales: 7
Average sold price $254,286
Average days on market: 66
Average sales prices in Burtonsville are down 11% from one year ago, but with an average sales price of $254,286, houses are being scooped up fast. Available housing inventory is down 20%
Almost any home priced under $350,000 in Gaithersburg is getting multiple contracts. The average days on market one year ago was 106 days, last month 63 days, and this month 64 days; the trend is unmistakable.
Derwood is located just north of the center of Montgomery County, between Gaithersburg and Rockville. Residents live close to the Shady Grove Metro Station, which is the northernmost station on the western side of Metrorail's Red Line.