Real Estate Blog - GAITHERSBURG MD REAL ESTATE MARKET REPORT FOR OCTOBER 2007-2008

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GAITHERSBURG MD REAL ESTATE MARKET REPORT FOR OCTOBER 2007-2008

GAITHERSBURG MD REAL ESTATE FOR SALE IS PRICED FROM ABOUT 11% TO 25% LOWER IN 2008 THAN HOMES SOLD IN OCTOBER 2007. Many of the homes sold were bank owned and short sales.

SOLD INFORMATION BELOW SHOWS THE PRICE REDUCTIONS FOR HOMES THROUGHOUT GAITHERSBURG, A VERY POPULAR TOWN IN MONTGOMERY COUNTY, MARYLAND. See map below.

20886

Average SOLD Price - October, 2008 - $245,793.
Average SOLD Price - October, 2007 - $325,320.
Average SOLD Price - October, 2007 - October, 2008 - DOWN 24.45%.

20877

Average SOLD Price - October, 2008 - $266,806.

Average SOLD Price - October, 2007 - $340,806.

Average SOLD Price - October, 2007 - October, 2008 - DOWN 21.55%.

20879

Average SOLD Price - October, 2008 - $274,667.
Average SOLD Price - October, 2007 - $318,484.
Average SOLD Price - October, 2007 - October, 2008 - DOWN 13.76%.

20878

Average SOLD Price - October, 2008 - $505,979.

Average SOLD Price - October, 2007 - $565,933.

Average SOLD Price - October, 2007 - October, 2008 - DOWN 10.59%.

20882

Average SOLD Price - October, 2008 - $566,768.

Average SOLD Price - October, 2007 - $643,300.

Average SOLD Price - October, 2007 - October, 2008 - DOWN 11.90%.

Map Montgomery county md

EXAMPLES OF HOMES FOR SALE IN GAITHERSBURG, MARYLAND. To tour the homes below or any Gaithersburg homes for sale, contact Lenn Harley, Broker, Homefinders.com, 800-711-7988.

Property Details for listing # MC6750963

Price: $359,900	City: GAITHERSBURG
Bedrooms: 3	Bathrooms: 2 full 1 half
Type of Home: Detached	Style: Split Foyer
Year Built: 1978	Lot Acreage: 0.243916
Subdivision: THE PLANTATIONS	County: MONTGOMERY, MD
State, Zip: MD, 20882	Status: ACTIVE

Descriptions

Comments: Super plantations community. Former model home. Remodeled kitchen w/silestone counters. Kitchen bay window and Breakfast area. New carpeting, florida/sun-room with high ceilings and fan. Level fenced lot. Heat pump 2000. Replaced all thermal windows. Roof 10 years. Vinyl siding. Home warranty.Bathrooms updated. A pleasure to show.Just bring your furniture!!

Listing Office: Weichert, REALTORS

Property Details for listing # MC6801230

Price: $580,000	City: GAITHERSBURG
Bedrooms: 5	Bathrooms: 3 full 1 half
Type of Home: Detached	Style: Colonial
Year Built: 2000	Lot Acreage: 0.248554
Subdivision: SHARON WOODS	County: MONTGOMERY, MD
State, Zip: MD, 20879	Status: ACTIVE

Descriptions

Comments: Great location!!!!Gorgeous home, beautiful hardwood floors, granite counter top, maple cabinets. Upgraded baths, beautiful deck. Walk out entertaining sun room. Close to shopping centers. Near 270. You must seet it!!!

Listing Office: Exit Realty Enterprises

Courtesy, Lenn Harley, Broker, Lenn Harley, Homefinders.com, 800-711-7988, E-Mail.

Visit our Montgomery County Real Estate web page.

Posted by Lenn Harley, Real Estate Broker, Maryland & Virginia on 12/07/2008 11:04 AM

Comments (10)

Montgomery County MD Market Report in the Real Estate Market Channel

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Originally posted at: MD, VA Foreclosures, First Time Buyers Grants, CDA Loans MD, Rehab Loans MD & VA: GAITHERSBURG MD REAL ESTATE MARKET REPORT FOR OCTOBER 2007-2008

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10 Comments on GAITHERSBURG MD REAL ESTATE MARKET REPORT FOR OCTOBER 2007-2008

DEC

2008

Oh, My! I am simply mesmerized by that beautiful map--I can't even comment on the content of this post, Lenn!! <wink, wink>

Just as in our area, some of the zips are suffering more than others as the market continues to try to stabalize. Hopefully we'll see a change in early 2009--I know our Sellers are ready for more appreciation in their investments than they've seen in the last two quarters!

Debe in Charlotte

Debe. The difference in the value between the zip codes is because the 20878 and 20882 is because they are in the northern area of Gaithersburg and offer larger lots and higher ranked public schools. In fact, the 20878 zip is known as "North Potomac". Potomac, of course, being the "super luxury" area for Montgomery County.

Lenn, Schools are a priority for buyers here in Charlotte as well and the higher ranked schools definitely pull up the home values in the various zip codes than the lower ranked schools. I cannot disclose which are the 'best' schools but, I send every one of my clients to the site that shows the school ranks--even those without children. I don't want to be asked in 5-7 years to list their home in an area that I can't sell it because of the school rank there!

Debe in Charlotte

Beautiful houses. Good luck.

Debe. That's the key, public school ranking. Most of the information is on line for buyers to research for themselves these days.

Kenneth. Thanks.

Lenn, its just sad how much down the market is, and a huge worry about how much more will it fall before it stablilizes... but I fear that won't be quick or happen soon. With each day bringing more layoffs and cutbacks the economy is suffering. Of course I don't need to tell you that, you see it too. Hard numbers to swallow for most Americans who were raised up thinking their homes were an investment not a mortgage trap.

Lenn, I like that you combine the market sales report with currently available properties, gives a buyer a direct invitation to begin his research or contact you!

Lenn--I love your market reports...my goal for the new year is to create some great maps like you have for my area.

Some very interesting statistics. I love your maps as usual. Thank you for sharing.

DEC

2008

Gail. You wrote:

"Hard numbers to swallow for most Americans who were raised up thinking their homes were an investment not a mortgage trap"

That is the hard cold truth.

Silvia. Home buyers should ALWAYS contact me.

Teri. Good for you.

Jim. Thanks. Interesting indeed.

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