Bob Myers, GRI - Mongtomery County MD Real Estate

Activity picked up in the Montgomery County Maryland real estate market. In April there were 1,007 contracts written wtih 704 properties going to settlement. In May there was 1,030 new contracts written with 753 properties going to settlement. April saw 2,052 new listings for the month, and May decreased to 1,897. Average days on market has gone down slightly, from 112 days in April to 103 days in May. The grand total for active listings in May was a whopping 6,716 properties: 1,518 condos and 5,194 single family homes. Going into June, I've noticed activity has dropped a bit, perhaps because of the excessive heat and thunderstorms.

Foreclosure filings have also skyrocketed in the greater Washington DC area, now exceeding the national average. Washington has gone from 23 to 131 foreclosures per 10,000 homes; while the national average has gone from 58 to 87 per 10,000 in the past year. This means 15,613 homes have gone into foreclosure in the year ending this past February. My guess is that you will see even higher numbers in the next several months. Germantown MD Homes have been particularly hard hit.

Average home prices have decreased 3.2% from April 07 to April 08, with certain neighborhoods harder hit than others. Short sales have also increased in Montgomery County. If you are considering either offering your home in a short sale or you are about to be foreclosed on, be sure to visit my website at www.bobmyers4homes.com to see consumer resources available to assist you.

Questions? Call me at 301-910-9910 or e-mail at robertmyers@remax.net.

At the end of January 2008 there were 123 condo/coop active listings and 47 residential properties in zip code 20852, including properties in the Grosvenor Park and Randolph Hills neighborhoods, as well as large condo buildings like The Gallery. Zip code 20852 also includes parts of North Bethesda.

There were 10 condo/coops that sold in January and 10 residential homes. The total dollar volume sold has gone down by 42% compared to January of 2007, with the average sold price up by 9.6%. The average number of days on market is 74 - slightly less than January 2007's average of 89.

Across Rockville, less than 10% of active listings or properties under contract were ‘short sales' - where the owner is selling for less than they owe on the property (with bank approval). Out of 616 properties for sale or under contract in all Rockville zip codes as of mid-February, 45 are short sales. In Zip 20852, there were 4 short sales either under contract or for sale in mid-February.

Click here to see more detail on home sales in Rockville MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

At the end of January 2008 there were 51 condo/coop active listings and 141 residential properties active in zip code 20850, including properties in the Americana Centre, Decoverly, King Farm, and Willows of Potomac neighborhoods.

There were 6 condo/coops that sold in January and 16 residential homes. The total dollar volume sold has gone down by almost 16% compared to January of last year, with the average sold price up by 11%. The average number of days on market is 92 - slightly more than last January's average of 84.

Across Rockville, less than 10% of active listings or properties under contract were ‘short sales' - where the owner is selling for less than they owe on the property. Out of 616 properties for sale or under contract in all Rockville zip codes as of mid-February, 45 are short sales. In Zip 20850, there were 11 short sales either under contract or for sale.

Click here to see more detail on home sales in Rockville MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

This zip code has 38 condo/coops for sale and 167 townhomes and single family homes for sale in zip code 20879, including properties in the Goshen and Woodland Hills communities in Gaithersburg MD at the end of January 2008.

There were 3 condo/coops sold in January and 11 townhomes/single families. The total dollar volume sold has gone down by almost 40% compared to January of last year, with the average sold price up by 1%. The average number of days on market is 158 - sharply up from 83 at this time last year.

Across Gaithersburg, there is a large proportion of ‘short sales'. Out of 932 properties for sale or under contract in all Gaithersburg zip codes (20877, 20878, 20879) as of February 11, 96 are short sales, or 10%. In zip 20879, there were 30 short sales either under contract or for sale out of 225 homes.

Click here to see more detailed market reports for Gaithersburg MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

For January 2008 there were 71 condo/coops for sale and 207 residential properties for sale in zip code 20878, including properties in the Gaithersburg neighborhood of Kentlands, Lakelands and Quince Orchard Park neighborhoods. Note: this zip code also includes properties in North Potomac and Darnestown.

There were 3 condo/coops sold in January and 30 residential properties. The total dollar volume sold has gone down by almost 7% compared to January of last year, with the average sold price up by 12.8%. The average number of days on market is 109 - up from 107 at this time last year.

Across Gaithersburg, there is a large proportion of ‘short sales' - where the owner is selling for less than they owe on the property. Out of 932 properties for sale or under contract in all Gaithersburg zip codes as of February 11, 96 are short sales, or 10%. In Zip 20878, there were 23 short sales either under contract or for sale out of 325 total homes.

Click here to see more detail on Gaithersburg and North Potomac MD home sales in various neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.