North Potomac Real Estate News & Market Updates for the week of 10/17/2012

 

There are currently 72 Properties currently available in North Potomac Maryland for Montgomery County in Maryland

 

 

Psst. . mortgages rates are at record lows

With mortgage rates at or near record lows and prices rolled back, we are puzzled finding buyers that are still waiting for the market to drop some more.. .well. you are in for a lonnnnng wait!

An inventory shortage has whipped up a feeding frenzy in our local market. .specially in the lower range properties. With bidding wars and price increases coming from apartment renters that are finding that mortgage payments are LOWER than their monthly rental bill. .is a no brainier!

As a broker, I ask myself if  this pressure is justified? 
Would most buyers be better served by waiting?

Absolutely not!

Check the chart below.. 

Year over Year (YoY) statistics are on the positive side in all aspects of the market today, 

The only thing were there is a negative gain. . is  the DAYS ON THE MARKET!

Things are selling quicker now. .I can assure you.

 

Everything points that the market is in the upswing!

The most dramatic data for September 2012 is the comparison of month to month from last year.

Look at the Sold Dollar Volume over 16% higher than last year.

 

Even the average Sold Price shows almost a 10% jump over last year. .That is good news if you are a seller. . .

The inventory declined to record lows in the last 12 months,if you are waiting to buy. . pay attention to this critical number 

The number of LISTINGS!

The market in 2008 when everything started to unravel.. we had 12,908 ACTIVE LISTINGS THEN

Now?

From 2008 to 2012, we have only 4500 ACTIVE LISTINGS!

 

Homes are selling because ..the interest rates are low and inventory is at record lows!

 

 

Search All North Potomac Homes For Sale here

The most expensive active home for sale in North Potomac is:

 

$2,595,000?

13531 STONEBARN LANE, North Potomac

Fabulous one year old custom build masterpiece by sandy spring builders on an incredible 14 acre estate parcel with pastoral views...

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• Beds 5
• Baths 7.0

• MLS MC7751193

 

The least  expensive active home for sale in North Potomac is:

 

$224,900?

12338 SWEETBOUGH COURT Unit #98, North Potomac — Potomac Grove

MOVE-IN READY, REG. SALE, 2 BR/1.5 BA END UNIT TH IN SOUGHT AFTER POTOMAC GROVE! Eat-in kitchen, half bath & large LV/DN room comb...

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• Beds 2
• Baths 2.0

• MLS MC7792554
• SqFt. 1,134

 

 

Latest Listings in North Potomac Maryland as of 10/17/2012

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2012. Last updated: October 15, 2012

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North Potomac Real Estate News & Market Updates for the week of 10/17/2012