BCCDC Real Estate by Marcie Sandalow

Archive for the 'State of the Market' Category

AU Park/Tenleytown, DC 20016 Market Report, September 2010

said on October 11th, 2010 filed under: District of Columbia, State of the Market

Market Watch purple

In September of 2010 there were 26 homes that closed within the month for zip code 20016  in the District of Columbia (AU Park/Tenleytown/ Palisades).  This was a decrease of 7 units, as there were 33 homes that closed in September of 2009.

The average list price for homes that closed in September  2009 was $838,564.
The average list price for homes that closed in September 2010 was $893,946.

The average sale price for the homes that closed in September 2009 was $781,612.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Chevy Chase, DC 20015 Market Report, September 2010

said on October 10th, 2010 filed under: Chevy Chase, State of the Market

Market Watch orange

In September of 2010 there were 7 homes that closed within the month for 20015 Chevy Chase, DC.  This was a decrease of 7 units, as there were 14 homes that closed in September of 2009.

The average list price for homes that closed in September 2009 was $814,164.
The average list price for homes that closed in September 2010 was $946,700.

The average sale price for the homes that closed in September 2009 was $731,286.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Bethesda 20817 Market Report, September 2010

said on October 9th, 2010 filed under: Bethesda, State of the Market

Market watch light blue
In September of 2010 there were 22 homes that closed within the month for 20817 Bethesda, Maryland.  This was a decrease of 15 units, as there were 37homes that closed in September of 2009.

The average list price for homes that closed in September 2009 was $998,326.
The average list price for homes that closed in September 2010 was $1,285,768.

The average sale price for the homes that closed in September 2009 was $872,389.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Bethesda 20816 Market Report, September 2010

said on October 7th, 2010 filed under: Bethesda, State of the Market

Market Watch yellow
In September of 2010 there were 12 homes that closed within the month for 20816 Bethesda, Maryland.  This was a decrease of 2 units, as there were 14homes that closed in September of 2009.

The average list price for homes that closed in September 2009 was $943,285.
The average list price for homes that closed in September 2010 was $969,950.

The average sale price for the homes that closed in September 2009 was $816,035.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Chevy Chase 20815 Market Report, September 2010

said on October 5th, 2010 filed under: Chevy Chase, State of the Market

bccdcrealestate.com

In September of 2010 there were 22 homes that closed within the month for 20815 Chevy Chase, Maryland.  This was an increase of 6 units, as there were 16 homes that closed in September of 2009.

The average list price for homes that closed in September of 2009 was $$899,478.
The average list price for homes that closed in September of 2010 was $807,902.

The average sale price for the homes that closed in September 2009 was $835,718.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Bethesda 20814 Market Report, September 2010

said on October 4th, 2010 filed under: Bethesda, State of the Market

Market Watch logo

In September of 2010 there were 26 homes that closed within the month for 20814 Bethesda, Maryland.  This was an increase of 4 units, as there were 22 homes that closed in September of 2009.

The average list price for homes that closed in September 2009 was $557,148.
The average list price for homes that closed in September 2010 was $987,865.

The average sale price for the homes that closed in September 2009 was $511,859.
The average sale price for the homes that closed in September 2010 was Read the rest of this entry »

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Hey Buyers- time to crawl out from under that rock!

said on September 30th, 2010 filed under: Information for Buyers, State of the Market

bigstock_Doubt_And_Fear_Green_Road_Sign_8148633Yeah, I’m talking to you!

So, assuming you consider yourself a buyer, what’s stopping you from buying a house? While I will acknowledge that some markets are less fruitful in the way of listings than others, us real estate agents are looking at the market with complete awe in our eyes.  Trust me, if I had buckets of cash sitting around, I’d be buying up investment properties like crazy. With local home prices down @10% from the peak, and interest rates at all time lows, a lot of us are salivating. And it’s making us wonder why buyers are so hesitant to commit?  While the national news can seem downright gloomy, consider the following:

A typical 3-Bedroom/1.5-Bath home in Bethesda, MD used to sell for @ $775,000 in 2006. Interest rates back then hovered around 6.5%.  With 20% down on a 30-year fixed loan, your P&I (principal and interest) payments would have been @ $3,919 a month.  Fast forward to the 2010 market and the same house would sell for around $700,000 with an interest rate of approximately 4.25%.  Your monthly payment would be $2,755 a month.  For the same house.

Am I dreaming?  The same house is now available for roughly Read the rest of this entry »

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East Bethesda Real Estate Stats- September 2010

said on September 26th, 2010 filed under: Bethesda, State of the Market

East BethesdaI’m a bit of a statistics geek.  Can’t say I was particularly fond of math in school, but stats I like.  Especially real estate stats.

For the first 8 months of this year, from January 1 – August 31, 2010, there have been 32 homes that have sold within East Bethesda.  At the time of this writing 4 homes are under contract, and 11 are offered for sale.

Of these 32 homes:

  • Average DOM (days on market):  31.9 days
  • Average original list price:  $914,418
  • Average list price at time of sale:  $896,481
  • Average final sales price:  $881,900

Buyers were able to purchase these homes for 96.4% of the original asking price.  There is a $32,518 gap between original asking price and final sales price.

Of the 32 homes, 10 of them fall into the category of the “newer home”.  These have been popping up like crazy over Read the rest of this entry »

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The Evers & Co. August 2010 Real Estate Report

said on September 18th, 2010 filed under: Relocating to the DC area, State of the Market

SAM_4238Remember that every action has a reaction, and the First Time Homebuyers Tax Credit that created a bullish month in April of this year also caused the reaction of a slowdown in sales in July and August. Lawrence Yun, the chief economist for the National Association of Realtors predicted this slowdown and he also predicted that the market would regain its strength in the fall. We hope he’s right again.

The August numbers for the close-in Metro area showed sales volume that was down 6.24% from than August 2009. However, the average price was up over last year by 5.11% and the months’ supply of product was 4.7 months, which is healthy and low. While record low interest rates should be enough to bolster the housing market, consumer confidence still needs a boost. One hopeful sign is that the stock market, which took a hit in July, now seems to be climbing back up again, and this is good news for the upper brackets markets specifically, and consumer confidence in general.

*Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery County, Maryland; and Fairfax County, Arlington, Alexandria and Falls Church in Virginia.

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AU Park/Tenleytown, DC 20016 Market Report, August 2010

said on September 9th, 2010 filed under: District of Columbia, State of the Market

Market Watch purple

In August of 2010 there were 31 homes that closed within the month for zip code 20016  in the District of Columbia (AU Park/Tenleytown/ Palisades).  This was a decrease of 21 units, as there were 52 homes that closed in August of 2009.

The average list price for homes that closed in August  2009 was $927,409
The average list price for homes that closed in August 2010 was $886,362

The average sale price for the homes that closed in August 2009 was $848,393
The average sale price for the homes that closed in August 2010 was Read the rest of this entry »

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