Best Places to Live - DC Metro Market
"Best Places to Live" is the featured cover article in the May issue of the Washingtonian magazine. A two page chart lists the "Golden Zip Codes" and the market conditions in the 100 areas in the DC Metro area with the most expensive home sales.
The most expensive homes sales section shown in Maryland is the 20854 zip code, for the Potomac area of Montgomery County. Potomac had a median price of $830,000 for 2011 and an average of 76 days on the market. The one year price change was -1.78% in Potomac, down from the median of $845,000 in 2010. The 2008 median was $825,000.
Most of us tend to focus on the area where we live or work. Dolores and I live in zip code 20878, in the Gaithersburg and North Potomac area of Montgomery County. The median sales price was $430,000 in 2011 with an average of 66 days on the market. This is up 2.38% from the $420,000 median in 2010.
Gaithersburg is discussed in the section that provides information on the best area for value and convenience. I need to draw your attention to the Gaithersburg area because that is where I live and work and I am quoted in the article. Over the years, I have distributed hundreds of market reports on the area and was not surprised to receive a call from a Washingtonian reporter in March. We discussed the Montgomery County market and I provided the reasons that Gaithersburg should be highly considered by prospective home buyers.
I am a subscriber to the Washingtonian and have the article in front of me but have not been able to get the article online. You may need to purchase the magazine to see the detailed information which should be in the hands of every real estate professional in the area.
The Washingtonian provides a very positive report on the area real estate market. One of the most interesting sections is the information on the "50 Most Expensive Homes" in the area. The most expensive home is located in McLean and is owned by Jim Kinsey. At $45.5 million, The Falls is assessed at $33.9 million and the guest house is at $11.6 million.
In Maryland, the most expensive home is the $12.5 million residence of Mitchell Rales, in Potomac. If you home is assessed at less than $7.2 million, you do not need to worry about appearing on this very public list of the "50 Most Expensive Homes".
Azaleas, National Arboretum, Spring Flowers IMG_8914
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs