Potomac Real Estate News & Market Updates for the week of 11/15/2012

 

There are currently 18Properties currently available in  Potomac Maryland for Montgomery County in Maryland

 

Other good news overall for the whole country is about foreclosures. .

Realty Trac has reported just recently that foreclosure filings felt to a 5 year low!

We are on our way to recovery

The caveat for homeowners in our area still remain a high probability that their homes are still underwater
Don't expect prices to shoot up to 2005 levels in the near future. .
There is a sense of more disciplined healthy market growth and slow in this case is good for the economy. Home values growth will be directly proportional  at the reluctance of appraisers to increase their opinions and keep them constricted no matter what the buyers want to pay.

I can tell you that we have experienced this first hand in the last 7 days. Two of our closings were halted because of the appraisals coming way too low.


Prices of homes are going up because of the low inventory. .but only for certain price ranges. The luxury real estate remains stable . . but there are fewer people buying homes above the $750,000 and up range.

Mortgage rates at still or near record lows. This is good indication that we are still going upwards and I caution not to expect this to remain as it is. .if you are near teh decision to buy a house, you shoudl do so now.

There is no bottom of the market anymore. . .you'll  have to wait for the next recession if you want to see it again. . .better luck next time!

The  inventory shortage has whipped up a buyer frenzy in our local market. .specially in the lower range properties.
Bidding wars and price increases are coming from all angles. .
From apartment renters that are finding mortgage payments to be LOWER than their monthly rentals
To the lucky ones in position to buy and upgrade their housing.

          

The average increase in home values remains  constant in the Washington Metropolitan Area

In average overall we should see around 7% to 10% total gains from 2011.


Affordability still is an issue in Montgomery County
The median Value of owner-occupied housing in Montgomery County is $482.900
yet
The median per capita  income money is $47,310
Direct data taken  from Census.Gov
That's TEN TIMES the average housing vs income per capita
In Florida the median per capita is around $25,000
Only 5 times that. . buys them a house OVER the median value in Florida (around $125,000)
try doing the same here in Montgomery County and you will be lucky to get a condo at that price.

Our market is dependent in the affordability range. .like it or not


Until we achieve a balanced real estate market in our area. .prices will continue to be stagnant in the high end.

The most dramatic data for October 2012 is the change of SOLD DOLLAR VOLUME
A change of 23.61 %
A great representation in the condition of our local market
As you can see below: 
 

Search All  Potomac Homes For Sale here

The most expensive active home for sale in  Potomac is:

 

10501 CHAPEL ROAD, Potomac MD 20854

$10,000,000

10501 CHAPEL ROAD, Potomac

Custom designed 23,000 SF luxurious mansion with unique state-of-the-art features, amenities, and architecture located only minute...

  • Beds 9
  • Baths 16.0
  • MLS MC7943681

The least  expensive active home for sale in  Potomac is:

 

7751 SCOTLAND DRIVE Unit #N-4, Potomac MD 20854

$309,000?

7751 SCOTLAND DRIVE Unit #N-4, Potomac

Location,Location,Location! Must see this 5BR townhouse nestled in the woods of Cabin John Park w/bamboo flrs & wall/wall Berber. ...

  • Beds 5
  • Baths 3.0
  • MLS MC7907700
  • SqFt. 1,560

 

 

 

Latest Listings in  Potomac Maryland as of 11/15/2012

 

10501 CHAPEL ROAD, Potomac MD 20854

$10,000,000

10501 CHAPEL ROAD, Potomac

Custom designed 23,000 SF luxurious mansion with unique state-of-the-art features, amenities, and architecture located only minute...

  • Beds 9
  • Baths 16.0
  • MLS MC7943681

 

12514 PENNYFIELD LOCK ROAD, Potomac MD 20854

$8,500,000

12514 PENNYFIELD LOCK ROAD, Potomac

See MC9001501 for accurate lot info .Rare 24 +/- acres in sought after loc. offers extraordinary opp for genuinely majestic res or...

  • Beds 5
  • Baths 4.0
  • MLS MC9001517

 

11408 HIGHLAND FARM COURT, Potomac MD 20854

$7,500,000

11408 HIGHLAND FARM COURT, Potomac

Sensational custom home by acclaimed patrick cullinane & expanded, decorated & customized by david herchik & richard looman of jd...

  • Beds 9
  • Baths 14.0
  • MLS MC7801596

 

9210 FOX MEADOW, Potomac MD 20854

$6,850,000

9210 FOX MEADOW, Potomac

Incredible masterpiece with unparallel design, materials and workmanship. Extraordinary two story wood paneled barreled ceilings I...

  • Beds 7
  • Baths 10.0
  • MLS MC7736709

 

9411 NEWBRIDGE DRIVE, Potomac MD 20854

$6,495,000?

9411 NEWBRIDGE DRIVE, Potomac

Incredible custom masterpiece by premier bldr david niroo. Limestone elevation with european villa design. Materials, finishes & w...

  • Beds 7
  • Baths 12.0
  • MLS MC7285623
  • SqFt. 18,000

 

10204 IRON GATE ROAD, Potomac MD 20854

$5,995,000

10204 IRON GATE ROAD, Potomac

Spectacular french country estate by acclaimed jeffco builders. Four incredible levels feature grand salon, two family rooms, gour...

  • Beds 9
  • Baths 13.0
  • MLS MC7919334
  • SqFt. 18,500

 

9009 CONGRESSIONAL COURT, Potomac MD 20854

$5,375,000?

9009 CONGRESSIONAL COURT, Potomac

NEW PRICE! $2.310M Reduction. Grand Southampton Estate set on 2.10 acres incl Carriage House w/ Apt, 50'x22' heated pool w/ spa & ...

  • Beds 8
  • Baths 10.0
  • MLS MC7737580
  • SqFt. 19,250

 

8801 PERSIMMON TREE ROAD, Potomac MD 20854

$5,200,000

8801 PERSIMMON TREE ROAD, Potomac

Incredible Arts & Crafts masterpiece built by Augustine Homes. 12,000 square feet of designer interiors including dramatic paneled...

  • Beds 7
  • Baths 11.0
  • MLS MC7937607

 

9900 NEW LONDON DRIVE, Potomac MD 20854

$4,995,000

9900 NEW LONDON DRIVE, Potomac

Stately award-winning & full of light 12,000 sf+ Georgian Colonial. Privately sited on 2.5 acres w/heated pool. Dramatic 2-story...

  • Beds 7
  • Baths 8.0
  • MLS MC7490617
  • SqFt. 12,000

 

8929 HARVEST SQUARE COURT, Potomac MD 20854

$4,990,000

8929 HARVEST SQUARE COURT, Potomac

Exciting & unique describe this totally renovated home located at the end of a quiet cul-de-sac on two acs. Soaring ceilings, lots...

  • Beds 7
  • Baths 12.0
  • MLS MC7912595
  • SqFt. 17,000

 

9121 RIVER ROAD, Potomac MD 20854

$4,875,000

9121 RIVER ROAD, Potomac

Elegant chateau styled after the rodin museum in paris perfectly sited on close to 5 acres in "bradley farms", dramatic oval two s...

  • Beds 7
  • Baths 10.0
  • MLS MC7061626

 

10711 RED BARN LANE, Potomac MD 20854

$4,250,000

10711 RED BARN LANE, Potomac

Sensational expanded & renovated english williamsburg colonial on 5 acre lot with breathtaking views , pond & gardens. Designed by...

  • Beds 5
  • Baths 10.0
  • MLS MC7956037
  • SqFt. 8,500

 

9305 KENDALE ROAD, Potomac MD 20854

$4,250,000

9305 KENDALE ROAD, Potomac

Superb finishes & design compliment a wonderful floor plan 10' ceilings on the 1st floor, 8' solid core doors, quality materials: ...

  • Beds 7
  • Baths 11.0
  • MLS MC7847511
  • SqFt. 12,027

 

9800 SORREL AVENUE, Potomac MD 20854

$3,999,995?

9800 SORREL AVENUE, Potomac

Completely renovated in the past year by original builder, Crowell & Baker with the very best of everything. Moldings, quality bui...

  • Beds 7
  • Baths 9.0
  • MLS MC7596042

 

10208 BENTCROSS DRIVE, Potomac MD 20854

$3,995,000

10208 BENTCROSS DRIVE, Potomac

Amazing renovations have been done to one of Potomac's finest homes! An extraordinary country kitchen, butler's pantry, guest bedr...

  • Beds 8
  • Baths 11.0
  • MLS MC7943861
  • SqFt. 12,145

 

10120 COUNSELMAN ROAD, Potomac MD 20854

$3,995,000

10120 COUNSELMAN ROAD, Potomac

Brand new construction nearing a completion - incredible opportunity to have your dream home by the end of the year! Designed by...

  • Beds 8
  • Baths 9.0
  • MLS MC7863036

 

9020 BRONSON DRIVE, Potomac MD 20854

$3,995,000

9020 BRONSON DRIVE, Potomac

Award winning sandy spring builders will custom build your dream home (see plans) on this exquisite breathtaking 2 1/2 acre lot on...

  • Beds 6
  • Baths 9.0
  • MLS MC7857593

 

8412 RAPLEY RIDGE LANE, Potomac MD 20854

$3,895,000?

8412 RAPLEY RIDGE LANE, Potomac

NEW PRICE 11/12! Fab $1 Million Renovation of this Old World stone & brick beauty in the gated, sought-after Rapley Preserve at Av...

  • Beds 6
  • Baths 8.0
  • MLS MC7880033
  • SqFt. 11,376

 

10401 STAPLEFORD HALL DRIVE, Potomac MD 20854

$3,795,000

10401 STAPLEFORD HALL DRIVE, Potomac

Another stunning custom home by Bradbern Construction CO Inc. Everything you've come to expect and more on a 2.08 acre lot, close-...

  • Beds 5
  • Baths 9.0
  • MLS MC7727807
  • SqFt. 13,462

 

9906 RIVER VIEW COURT, Potomac MD 20854

$3,750,000

9906 RIVER VIEW COURT, Potomac

Marwood masterpiece. World-class luxury design. Barry dixon interior design. Sutton & yantis architecture. Mitchell best & visnic ...

  • Beds 4
  • Baths 6.0
  • MLS MC7856532

 

8704 CRIDER BROOK WAY, Potomac MD 20854

$3,750,000

8704 CRIDER BROOK WAY, Potomac

LET'S MAKE A DEAL!! Amazing custom built home. FIRST FLOOR MASTER BR. 7 add. brs. 8FB 2HB Spacious rooms for entertaining & living...

  • Beds 8
  • Baths 10.0
  • MLS MC7623578
  • SqFt. 10,987

 

10823 LOCKLAND ROAD, Potomac MD 20854

$3,699,000

10823 LOCKLAND ROAD, Potomac

Country club Living at its' Best!! Superb over 12,000sq.ft Estate sited on a quiet cul-de-sac of multi-million dollar homes. Magni...

  • Beds 7
  • Baths 8.0
  • MLS MC7870893

 

12510 HUNT RIDGE LANE, Potomac MD 20854

$3,650,000

12510 HUNT RIDGE LANE, Potomac

Beautiful 12,000 SF Natural Stone & Brick Mansion w/ 5 car Garage welcomes you with 2 story Foyer & sweeping curved Stairs, Elegan...

  • Beds 6
  • Baths 8.0
  • MLS MC7837103
  • SqFt. 12,184

 

11622 HIGHLAND FARM ROAD, Potomac MD 20854

$3,500,000?

11622 HIGHLAND FARM ROAD, Potomac

State-of-the-art renovation by Frank Bell! Designed for entertaining on any scale! Neutral decor with stunning top-of-the-line am...

  • Beds 6
  • Baths 8.0
  • MLS MC7927371

 

11409 HIGHLAND FARM COURT, Potomac MD 20854

$3,450,000

11409 HIGHLAND FARM COURT, Potomac

Location, Location, Location...in sought after Round Hill. Impeccably maintained custom home with 7 bedrooms, 6 full baths and 3 ...

  • Beds 7
  • Baths 9.0
  • MLS MC7835798

 

8709 CRIDER BROOK WAY, Potomac MD 20854

$3,450,000

8709 CRIDER BROOK WAY, Potomac

Magnificent 10,000+ sf custom French Manor home in sought after Bradley Farms, for the most discriminating buyer! Dramatic,open &...

  • Beds 5
  • Baths 9.0
  • MLS MC7787159
  • SqFt. 10,078

 

12313 PINEY MEETINGHOUSE ROAD, Potomac MD 20854

$3,209,000?

12313 PINEY MEETINGHOUSE ROAD, Potomac

Exquisite European retreat featuring every creature comfort you can imagine from the salt water pool, wine cellar, sauna to name a...

  • Beds 6
  • Baths 9.0
  • MLS MC7916308

 

10817 STANMORE DRIVE, Potomac MD 20854

$3,195,000

10817 STANMORE DRIVE, Potomac

ABSOLUTE MUST SEE! Fantastic total rebuild by BOWA Builders in '01 from basement up on 3.6+ GLORIOUS acres! His & her main level o...

  • Beds 5
  • Baths 9.0
  • MLS MC7938157

 

9301 INGLEWOOD COURT, Potomac MD 20854

$3,195,000

9301 INGLEWOOD COURT, Potomac

Award Winning Modernist Home sited on 1.9 acres just past Bradley Blvd. Over 8,000 SF with 6 BR's (2 in guest house), 6 FBA, 3 1/...

  • Beds 6
  • Baths 9.0
  • MLS MC7930785
  • SqFt. 8,000

 

12504 SYCAMORE VIEW DRIVE, Potomac MD 20854

$3,100,000

12504 SYCAMORE VIEW DRIVE, Potomac

Elegant 3 story 11,899 sq. ft. stone and brick craftsman style home on a breathtaking 5.27 acre lot of rolling terrain, having 7 b...

  • Beds 7
  • Baths 9.0
  • MLS MC7835330
  • SqFt. 11,989



 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

Nearby Cities Market Reports

Bethesda

Damascus

Clarksburg

Germantown

Gaithersburg

North Potomac

Potomac

Rockville

Silver Spring

Olney

 



                      securedownload 
Project1 
 

Why Should You Choose Us?

Our network is our prime advantage over our competition and your most important advantage over other buyers on the market today. Yet the true secret to our success is how we focus completely on our clients' needs. For us, servicing one client at a time is our top priority. That's why our agents are committed to understanding every single client's needs and strategic objectives. Our promise to you is to continuously strive to serve better and achieve the best results of anyone else available today. 

Let's get started!

Call

301-246-0001

 Potomac Real Estate News & Market Updates for the week of 11/15/2012