The High End Home Markets Is Alive and Well in the Metro of DC
The luxury Market of Real Estate is going strong in the Metropolitan areas of DC.
This is great news considering the lackluster performance of the national real estate market.
Looking at the chart below; I would like to highlight a couple of items:
1. Most transactions are being sold between the 1-30 day period, mostly with the use of conventional loans.
2. With this being said, in Montgomery county alone, there are 881 and homes on the market over a million dollars. This suggests that sellers are starting to recognize that now is an attractive time to sell a home. Prices have held firmly and buyers would like to get their foot in the door before interests rates get out of hand.
ANTHONY DASHTIZADEH
240.353.3163 : MOBILE
REALTORPRO@AOL.COM ; ANTHONY@LUXURYSALESGROUP.COM
Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator - <$100K to >$5M Format
Montgomery County, MD
From: 07/01/2008 to 07/31/2008 Statistics generated on: 08/07/2008
|
Residential |
Active Listings |
Time on Market |
|||||||||
|
Price Class |
2 |
|
4 |
Condo |
Ground |
Residential |
Condo |
Ground |
of Units Sold |
||
|
Under $100,000 |
0 |
0 |
0 |
1 |
0 |
3 |
35 |
0 |
1 -30 Days |
268 |
|
|
$100,000 - 149,999 |
2 |
1 |
0 |
7 |
0 |
9 |
148 |
0 |
31-60 Days |
155 |
|
|
$150,000 - 199,999 |
3 |
9 |
2 |
35 |
0 |
130 |
329 |
0 |
61 - 90 Days |
153 |
|
|
$200,000 - 249,999 |
8 |
21 |
7 |
35 |
0 |
362 |
350 |
0 |
91-120 Days |
93 |
|
|
$250,000 - 299,999 |
2 |
39 |
11 |
33 |
0 |
605 |
213 |
0 |
Over 120 Days |
198 |
|
|
$300,000 - 349,999 |
8 |
41 |
29 |
25 |
0 |
575 |
124 |
0 |
Total |
867 |
|
|
$350,000 - 399,999 |
5 |
36 |
32 |
26 |
0 |
604 |
87 |
0 |
|||
|
$400,000 - 449,999 |
4 |
19 |
32 |
9 |
0 |
415 |
40 |
0 |
Type of Financing |
||
|
$450,000 - 499,999 |
2 |
22 |
29 |
4 |
0 |
382 |
33 |
0 |
|||
|
$500,000 - 599,999 |
1 |
18 |
64 |
7 |
0 |
539 |
45 |
2 |
Conventional |
546 |
|
|
$600,000 - 699,999 |
1 |
14 |
46 |
4 |
0 |
349 |
16 |
0 |
FHA |
184 |
|
|
$700,000 - 799,999 |
1 |
6 |
36 |
2 |
0 |
241 |
10 |
0 |
VA |
19 |
|
|
$800,000 - 899,999 |
0 |
4 |
28 |
0 |
0 |
158 |
6 |
0 |
Assumption |
41 |
|
|
$900,000 - 999,999 |
0 |
2 |
12 |
2 |
0 |
133 |
3 |
0 |
Cash |
64 |
|
|
$1,000,000 - 2,499,999 |
0 |
1 |
72 |
4 |
0 |
499 |
30 |
1 |
Owner Finance |
1 |
|
|
$2,500,000 - 4,999,999 |
0 |
0 |
3 |
0 |
0 |
70 |
2 |
0 |
All Other |
12 |
|
|
$5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
12 |
1 |
0 |
Unreported |
0 |
|
|
Totals |
37 |
233 |
403 |
194 |
0 |
5086 |
1472 |
3 |
Total |
867 |
|
|
Grand Totals |
867 | 6561 | |||||||||
|
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.
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