Area Real Estate News & Market Updates for North Potomac Maryland Montgomery County Maryland 20878
The market report for North Potomac MD for August 2012 has good news and bad
Lets take a quick look at the report for Montgomery County Maryland in general
The bad news first: In May there was only 69000 jobs added for the whole United States.
The good news is that the private sector generated 1.8 million jobs between May 2011 to May 2012
Our local economy is tops when it comes to job creations and economic conditions. .that is the good news!
Unemployment rate is 5.6% in Maryland compared to the rest of the country
The laws of SUPPLY AND DEMAND are forecasting what the end of the year and the start of 2013 would look like, ,PRICES ARE CERTAIN TO GO UP BECAUSE OF LOW INVENTORY AND A GROWING POOL OF BUYERS. AS THEY FIND THEMSELVES UNABLE TO BUY & COMPETE WITH OTHERS FOR THE VERY FEW LISTINGS OUT THERE.
Activity in the Real Estate market is high . .but inventories are at record lows
Easy to figure this out. .
A lot of people want to sell but, their equities are still too low to motivate them.
Most of the inventory is coming from the MUST SELL homeowners to short sales and a few foreclosures out there.
If you are a buyer, my advice is to act quickly and be prepared before going out there.
Notice the number of listings for August 2012
2345 Active Listings available
This is the lowest number recorded in the last 7 years
We have buyers. . but the listings are simply not there!
Prices are rising because of this.
The average Days on Market has dropped over 17% from last year, indicating the trend mentioned above. Listing priced well, are selling very quick!
Check a general overview of the local market in the video below:
Check Market Updates For Other Nearby Cities:
Check a Sample of North Potomac MD Latest Listings
2 walk-in closets,luxury bath; pull down stairs to floored attic; fully finished walk-out bsmnt w full bath,bdrm,work station for artist/home office/study,a small wet-bar...
- Beds 5
- Baths 5.0
- MLS MC7928006
Graceful home offering 3-finished levels of thoughtful living space. 3,850 sq' above grade plus fully finished BMST(5,900 sq' total). This home exudes the charm and the w...
- Beds 5
- Baths 5.0
- MLS MC7926985
Spacious renovated end unit, new paint & carpeting, new kitchen appliances, granite counter and ceramic tile flooring, gleaming hardwoods in living rm and dining rm, recr...
- Beds 4
- Baths 4.0
- MLS MC7927599
Adorable 2 level town home in the Travilah/Frost/Wooten cluster. Renovated 2 years ago with granite counters, stainless steel appliances, wood-like flooring, designer ti...
- Beds 2
- Baths 1.0
- MLS MC7926978
Spacious split level on 0.5 acre lot at the end of a private driveway! This home boasts a living room w/vaulted ceilings, an updated kitchen w/granite counters, 3 bedroo...
- Beds 3
- Baths 3.0
- MLS MC79263
Some North Potomac Neighborhoods