Kentlands MD Homes For Sale - Market Update For Gaithersburg MD

A new post was just written about Kentlands MD homes for sale at http://dcrealestatemarketplace.com/kentlands-md-homes-for-sale-gaithersburg-u..., but I wanted to share one extra graph that didn't fit into the recent blog post.

This chart shows how long homes for sale in the larger community of Gaithersburg are staying on the market, as mapped out over the past two years.  In late August of 2009, it appears that 120 days was the norm, which shot up to 150 earlier this year, before settling out a bit at our current levels of almost exactly where we started, 120 days!  The trend line, shown in gold, is a bit lower, but the weekly data points are almost exactly the same!

For more information on Kentlands MD homes please visit our website at http://dcrealestatemarketplace.com

Fallsgrove MD Homes For Sale Graph - Days On Market For Rockville MD

A new post was just released at http://dcrealestatemarketplace.com/fallsgrove-md-homes-for-sale-august-update discussing a few stats from the Fallsgrove MD area, as wel as the larger Rockville MD community of which Fallsgrove is just a small part.

Here is one more graph that really didn't fit into that article, this one is of how long homes are taking to sell, or least how long until the leave the market.  I suppose if an owner got tired of trying to sell their home and simply gave up and took their home off the market, that would also register in this graph.

For more information on homes in and around the Washington DC market, including Fallsgrove MD, please visit www.DCRealEstateMarketplace.com

Chevy Chase Home Sales Remain Steady For Tech Savvy Realtors

A lot has changed since the late nineties, particularly for people in the homes selling business, such as Chevy Chase homes for sale. A realtor of the nineties would be equipped with a few modest tools – a car, an office phone, a fax machine, a mobile phone, and a simple website with a couple of the prominent homes featured. It took a lot of driving and legwork to make home sales happen back then. It could be 10 showings before a buyer found a place he or she liked.

Today’s buyer does extensive research before the realtor even gets a phone call. Using the local Multiple Listing Service, a buyer can read all the details of homes on the market, look at photos, watch YouTube videos, take virtual tours, and search the surrounding area using Google Maps. To keep up with the demand for knowledge, realtors need to adopt the tools of the trade and update their technology so their home sales remain steady.

For instance, the best realtors have blogs – which are the #1 referral tool these days. Realtors might write about area schools, new communities being built, local architectural styles, first time home buyer credits, area entertainment – anything that buyers can use to make more informed purchases. The average realtor spends 1-2 hours a day blogging and posts 4-5 times per week. The more content a realtor has, the more search engines love the blog… and the more search engines love the blog, the more referrals and home sales the realtor gets. The blog acts as a central hub for linking to and from social media pages like Twitter, Facebook, or LinkedIn. Readers can comment, share the blog, subscribe to an RSS feed, download pamphlets, and directly contact a realtor through a successful blog. 

Smartphones are an essential part of home sales these days too. There are GPS-enabled mobile apps where buyers can find out the list price of the homes for sale they drive past. Realtors can stay connected with their sites in real-time, responding to inquiries immediately via their web-surfing phones. They can add photos and videos, update social media pages, or chat with clients in real-time. For many modern realtors, there is never a moment’s rest… but at least home sales are steady.

For more information about home sales in or around the Washington DC area, including Bethesda, Potomac and Chevy Chase, please visit www.DCRealEstateMarketplace.com

Number of homes for sale in Potomac MD is on the rise

For the past few months, we have been watching asking prices of homes for sale in Potomac MD fall.  And then fall some more.  At the same time, inventory levels are rising, which is not a great combination at all if you are even remotely interested in selling your house.  Maybe it's ok if you are buying a home, but at some point, the markets will need to find some kind of equilibrium, and these recent trends don't really point to any kind of balance at all.

Right now, in early August of 2011, there are about 60 more homes for sale in this real estate market than there were at this time last year, from about 210 homes to 270 as of this past week.

For the most recent blog post about Potomac MD homes for sale, please visit http://dcrealestatemarketplace.com/potomac-homes-for-sale-market-update

Silver Spring MD homes for sale see higher median asking price than two years ago

Over at http://dcrealestatemarketplace.com, there was a recent article discussing the median asking price of homes for sale in Silver Spring MD, and whether it was good news for bad news.  I have included the same chart here that was used there, but here's the basic question:

If today's median asking price for Silver Spring MD homes for sale is higher than it was two years ago, but lower than last year's value, is that good news or bad news?  Does it make it easier for you to answer if I tell you that the Days On Market has the same kind of variance, with today's data point being lower then two years ago, but higher than last years?

I know, it's all a mess.  But be sure to keep reading at our website for more info, on Silver Spring as well as many other areas in and around D.C.

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.

Video - Quick review of data on Silver Spring MD homes for sale - June 2011

Silver Spring MD homes for sale