The Big Picture Housing demand is increasing in our area for all types of homes. Luxury homes and condos are increasing the most (condos above $570,000). The months of supply is around 2.4-5.5 months (single families at the low end and condos at the high end). But overall the market is fairly slow. The T3… Continue reading How’s the Market? March 2023
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Author: hannah
Glenview Neighborhood
Glenview is a small established neighborhood of 2500 people in Silver Spring. It is north of Downtown Silver Spring, closer to Wheaton. The neighborhood boundaries are east of Georgia Ave, north of Dennis Ave, west of Sligo Creek Pkwy, and south of University Blvd. Sligo Middle School is off Dennis Ave and Sligo Creek Pkwy.… Continue reading Glenview Neighborhood
How’s the Market? February 2023
We have a rebounding market in our region. There has been a lot of change and buyers are beginning to come back out. Let’s take a look at what that means. According to Yolanda Muckle, 2023 President, Maryland REALTORS®, January’s numbers may indicate a market that’s getting used to current conditions. Last November, the 30-year… Continue reading How’s the Market? February 2023
Housing Outlook 2023 – What can you expect?
What can you expect to see in 2023? Well we don’t have a crystal ball, but let me gather together some of the important facts and trends so that you know what to expect in 2023. How Does the Economy Look? The US GDP is up, unemployment is down (down to 3% or pre-pandemic level),… Continue reading Housing Outlook 2023 – What can you expect?
Woodside Park Neighborhood Tour
Woodside Park is one of the oldest suburbs in the DC area and one of the most sought after in Silver Spring. It is located between Georgia Ave on the west, Spring St on the south, Colesville Rd on the east, and Dale Dr and Columbia Blvd on the north. As its name implies, Woodside… Continue reading Woodside Park Neighborhood Tour
Jan 1, 2023 Housing Inventory
Happy New Year! Let’s get nerdy. Inventory has not risen during the economic slowdown. Months of inventory are coming up (Moco from 0.5 on 1/1/22 to 1.46 1/1/23 and DC to 3 months for single family and 4.5 months for condos), but we are still seeing a strong market. We are still in a seller’s… Continue reading Jan 1, 2023 Housing Inventory
How’s the Market? Dec 2022
Welcome back to the monthly series, How’s the Market? 2022 is officially over and I think we are all ready for a fresh start. Let’s start by looking at the key market stats for the DC area. Inventory The pace of sales is good – Montgomery County, PG, Fairfax, Loudon, Alexandria City are all under… Continue reading How’s the Market? Dec 2022
Woodmoor Neighborhood Tour
Have you heard of the Woodmoor neighborhood in Silver Spring? If not, have you heard of Four Corners? Four Corners is the intersection of Colesville Rd and University Blvd. The shopping plaza at that intersection is, in fact, called the Woodmoor Shopping Plaza and is our local spot for Starbucks, CVS, and Chipotle. One of… Continue reading Woodmoor Neighborhood Tour
How’s the Market? Nov 2022
Welcome back to my monthly blog “How’s the Market?” This is our Nov 2022 blog post which uses Oct 2022 data. First let’s start with a look at where we are compared to where we were in 2019, 2020, and 2021. Inventory One of the top items that we are all watching — Inventory. DC… Continue reading How’s the Market? Nov 2022
This time is different?
Let’s go back in time. In 2008, people were worried about losing their home in a foreclosure. A lot of homes hit the market, but there were not enough people to purchase them, and prices fell. 2008 is different. The housing bubble was a big factor in the actual recession itself. That is not the… Continue reading This time is different?