Montgomery County Maryland
Market Report & Home For Sale
Including all homes for sale in the following cities:
Clarksburg, Damascus, Germantown, Boyds, Olney, Montgomery Village,Gaithersburg, Rockville, North Potomac, Bethesda, North Bethesda, Poolesville, Kensington and Silver Spring
Complete review for the Montgomery County MD Real Estate Market.
This report is for Buyers and Sellers in the Montgomery County Maryland area.
Our local market continue on its strong path towards perfection. You and I are lucky to be in Montgomery County and not somewhere in Arizona, Michigan or Florida. Our local market is performing as one of the top markets in the nation.
Our area generated over 13000 jobs this year so far and the unemployment number have remained low, currently we are in the 6.1% range. .below the National numbers that are hovering around 8%
The Pending Federal actions and current Presidential Elections have stalled the growth in the last few months. . A lot of people are waiting. .
Psst. . mortgages rates are at record lows
With mortgage rates at or near record lows and prices rolled back, we are puzzled finding buyers that are still waiting for the market to drop some more.. .well. you are in for a lonnnnng wait!
An inventory shortage has whipped up a feeding frenzy in our local market. .specially in the lower range properties. With bidding wars and price increases coming from apartment renters that are finding that mortgage payments are LOWER than their monthly rental bill. .is a no brainier!
As a broker, I ask myself if this pressure is justified?
Would most buyers be better served by waiting?
Absolutely not!
Check the chart below..
Year over Year (YoY) statistics are on the positive side in all aspects of the market today,
The only thing were there is a negative gain. . is the DAYS ON THE MARKET!
Things are selling quicker now. .I can assure you.
Everything points that the market is in the upswing!
The most dramatic data for September 2012 is the comparison of month to month from last year.
Look at the Sold Dollar Volume over 16% higher than last year.
Even the average Sold Price shows almost a 10% jump over last year. .That is good news if you are a seller. . .
The inventory declined to record lows in the last 12 months,if you are waiting to buy. . pay attention to this critical number
The number of LISTINGS!
The market in 2008 when everything started to unravel.. we had 12,908 ACTIVE LISTINGS THEN
Now?
From 2008 to 2012, we have only 4500 ACTIVE LISTINGS!
Homes are selling because ..the interest rates are low and inventory is at record lows!
Check the video below for a review of these basic statistics that are shaping the future of real estate in our local area.
As always, we welcome your questions about our local market and input is appreciated if you think we missed anything.
This report was written by Fernando Herboso, Manager and Broker for Herboso & Associates LLC licensed in MD< DC and VA
The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2012. Last updated: October 15, 2012
Distressed Property Market Report for Montgomery County as of September 2012
There are only 10 properties listed Active as Foreclosures in Montgomery County as of 10/15/2012
Short Sales?
There are over 209 Active Short Sale Listings in Montgomery County right now.
2013 will be a pivotal year for distressed properties. The shadow inventory that everyone talks about, will not materialize in our area.. prices are that strong!
Our network is our prime advantage over our competition and your most important advantage over other buyers on the market today. Yet the true secret to our success is how we focus completely on our clients' needs. For us, servicing one client at a time is our top priority. That's why our agents are committed to understanding every single client's needs and strategic objectives. Our promise to you is to continuously strive to serve better and achieve the best results of anyone else available today.
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301-246-0001
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