Avenel MD Homes For Sale - Video Market Update

Avenel MD Homes For Sale

Potomac MD Homes - Real Estate Market Update - September 2011

Yesterday, I wrote an article on our blog at http://dcrealestatemarketplace.com/avenel-homes-for-sale-market-update discussing the state of the Avenel MD homes for sale market, as how it relates to the greater Potomac MD real estate market.

As always, I ended up with too many graphs to shove into one single blog post, so I have come here to share the extra chart. This one is about the DOM, or Days On Market, of homes in Potomac MD, of which Avenel is one sub-group.

Even though median asking prices are dropping, over $200,000 in the past two years and inventory levels are pretty high, it appears that homes are staying on the market about the same amount of time today as they were in September of 2009.  Which I find surprising.  I certainly would have expected homes to be on the market longer than before.

What this tells me is that the good homes, the homes people are willing to buy, are probably on the market for only a short amount of time.  And the other homes, well, they are staying on for a long time before the sellers get tired and then simply take their home off the market without a contract.

Luxury Homes In Avenel MD And Potomac See Median Asking Price Of $3,000,000

If you will allow me the freedom of defining luxury homes as the most expensive 25% of homes on the market at any given time, then the graph above gives you a pretty good idea of how asking prices for Avenel MD luxury homes are tracking.  Avenel is a small part of the larger Potomac real estate market, but by checking out the larger market, I think it is fair to say we can an idea of what is happening in smaller pockets of homes.

According to the graph above, the least expensive quartile of homes for sale in the area are tracking at a median asking price of $750,000.  In contract, the most expensive 25% of homes currently has a median asking price of $3,000,000, quite a difference, four times the price of the first group of homes!

Please contact us if you would like more detailed information on your Washington DC area home, or the real estate market in general.

Avenel MD Luxury Homes Market Update For February 2011

Most of the time writing these short articles, I look at all of the homes in an entire zip code, such as all available listings in Potomac MD.  But sometimes it is important, and even interesting, to look at smaller sub-sets of properties, such as Avenel MD Luxury Homes, which is what I will attempt to do here.

Avenel MD is a community within Potomac, which is generally considered zip code 20854.  In addition, when people talk about luxury homes, that can mean any number of things.  In some communities, it might be any home over $1,000,000.  Others might consider it the top 10% of any market.  But for the sake of this quick post, I will be looking only at the top 25% of homes currently for sale in zip code 20854, and then assume that luxury homes in Avenel MD are following suit.

A lot of areas are seeing downward trends in their pricing, but not this graph.  The most expensive quarter of homes for sale in this community are actually seeing their asking price rise over the past six months.  That could be a seasonal adjustment, or perhaps the sign of a trend.  To really get to the root of this matter, it may be best to talk with an area expert.