Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

February Housing Stats for DC and Montgomery County

by GCAAR

Washington, DC February Housing Market Report 
Median Prices Gained 7.1 Percent in February; Up 60.5 Percent From 2010 Bottom  

February’s median sales prices exhibited record high levels. The 468 closed sales marked an 11.1 percent increase compared to last year. New pending sales increased by 13.1 percent overall and also in all three smaller segments. New listing activity showed an 11.9 percent increase in sellers entering the market compared to last February. Based on the average sales pace over the past twelve months, the 1,090 active listings represent only 2.0 months of supply, which continues to put sellers in an advantageous position. Half the homes sold in February were on the market for 20 days and the competition among buyers pushed the average percent of asking price received at sale up to 99 percent. The $537,500 median price for the month represents a 7.1 percent increase over February 2015 and marked the highest February level on record for the District.

 

Montgomery County, MD February Housing Market Report 
Contracts and Closed Sales Both Jump by Double Digits Versus Last Year
The 658 closed sales in Montgomery County in February topped last year’s level by 16.6 percent and exceeded the five-year February average by 14.6 percent. Making up for a slow January, new contracts were up 13.1 percent compared to February 2015. The 2,072 active listings at the end of February represent a slight decrease from last year. With only 2.08 months of supply given the average sales pace over the last twelve months, sales are still
trending in the seller’s favor compared to the 2.5 months of supply last February. Half of the homes sold were on the market 56 days or less, slightly more than in February 2015. Compared to last February, prices dipped 2.8 percent as the $370,000 median was $10,000 lower than last February’s $360,000 mark. Closed sales experienced double-digit percentage increases across all three housing segments of the market.

New Listing in Chevy Chase West!

by Phyllis Wiesenfelder

4614 Norwood Drive Chevy Chase, MD 20815
Price:  $1,025,000

Click Here to View the Virtual Tour
Welcome to this enchanting home perfectly located on a tree-lined street in sought-after Chevy Chase West.  Built in 1923 with glorious architectural details, it has been extensively updated and expanded over the years.  This storybook home offers an inviting entry foyer with a delightful archway, captivating formal living room with a handsome brick fireplace, elegant open dining room, dramatic sun-bathed family room with vaulted ceilings, wall-of -glass and gas fireplace, bright French country kitchen, and a versatile bedroom or home office suite with a full bath.  The second level has three bedrooms and two full bathrooms.  The lower level includes a playroom, large laundry and storage room, utility area, and half bath.  This wonderful home boasts a lushly landscaped yard with a large brick paver patio, arched arbor, beautiful plantings, and a detached one car garage.  This 1920s charmer is truly a treasure!
This unique property is within steps of Norwood Park with its tennis courts, playgrounds, and tot lots and ever so convenient to two METRO stations, Somerset Elementary School, the Capital Crescent Trail, the Bethesda Pool, and the fine shops and restaurants of Bethesda and Friendship Heights.

Schools:  Somerset Elementary, Westland Middle, and Bethesda-Chevy Chase High School
Estimated taxes and non-tax charges in the first fiscal year of ownership are $9,995.79

Displaying blog entries 1-2 of 2

Syndication

Categories

Archives

Contact Information

Photo of Phyllis Wiesenfelder Real Estate
Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
Mobile: (301)529-3896
Fax: Office: 301-907-7600