The Great Capital Association of Realtors released the December Market Report for Montgomery County, MD. The report also summarizes the annual data for 2015. Highlights include an 11% increase in Single Family Home transactions for 2015 with 9,340 vs 8377 in 2014. Average Sales Price decreased to $569,364 which is a 3 year low. The overall theme being increases inventory placed some pressure on pricing as demand was not able to eclipse supply. It's still a great time for Buyers to enter the Single Family Market in Montgomery County with Interest Rates still at Historic Lows. The Mortgage Bankers Association reported in a November Press Release that credit availability has increased for potential borrowers. The hottest price point in Montgomery County in terms of sales volume is $300,000 - $399,000 with 2122 Settlements in 2015. A close second for price point was $400,000 - $499,000 with 1,626 Settlements in 2016. The two brackets combined for 40% of the market activity in 2015. Recently National Association of Realtors® Chief Economist Lawrence Yun predicted National Real Estate growth to be modest in 2016 in a newly-released video on his 2016 housing market expectations.
Author:Everett Greenstreet Phone: 240-793-2708 Dated: January 16th 2016 Views: 122 About Everett: My client philosophy:
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GW Residential is the metro area's finest real estate team. We specialize in buying and selling real estate at the highest level of service. Our reputation in the marketplace has resulted in numerous repeat clients and referrals.
"Everett did an "over-the-top" job selling my house when my wife and I were relocated to Atlanta. He was detailed, organized, and very in-tune with what was happening in our local market. Not only did he get our home under-contract, he was able to quickly organize and manage some small repairs we needed in order to close the transaction. What a relief it was for us to know that our home was sold and we could move into our new home in Atlanta stress free! If we ever move back to DC, Everett will be our first phone call! "