Montgomery, Maryland, Offers Desirable New And Existing Homes by Blanche Evans
Montgomery County, Maryland, continues its hot seller's market, but local Realtors are reporting a bit of a slowdown, making homebuying a lot less stressful for buyers and sellers. "While commentators speculate about a housing bubble, the Montgomery County real estate market continues to roar along," says Realtor Murray J. Gould. "June 2005 saw a slight increase in both single-family inventory and ratified contracts over the same period last year. Approximately one-third of listings and contracts were for properties in the $300,000-$449,999 range. Significantly, the greatest increases in both listings and contracts over last year were in the $1 million-plus sector. The average single-family purchase price for the county was $544,719. In other words, prices are still going up." Gould advises, "Knowing that the market still favors sellers and that desirable properties can still fetch multiple offers, you have decided to purchase a home anyway. You know what you want in a house and how much you can afford to pay for your residential dream. You just have one more question to ask yourself: New or Used?" Says Realtor Yvette Chisholm, "Overall, in Montgomery County it is a very strong seller's market, and the pricing is still trending upwards. There has been a steadily increasing inventory over the past few months which translates to less competition. It is a very strong seller's market in most areas. In some areas where the prices have risen dramatically, there is a slight market correction. It is a great time to sell or buy a home." "Montgomery County is booming," agrees Realtor Gabriela Castro, "New construction is everywhere and every kind you could want; commercial, villas, townhouses and single-family homes of all styles and sizes and condominiums are plentiful. Our prices are holding steady with no softening of our market. It's not too soon to start making plans to buy or sell you perfect home, even if the actual purchase will be many months or even a year away." |
