Bethesda, Chevy Chase Real Estate News

Happy Birthday Esme!

Regular readers will know how grateful we are that clients sometimes turn into wonderful friends. We definitely feel that Esme (and her parents) are in this category.

Esme turns five years old today…so let’s make sure that we recognize that achievement and wish her a very happy day. We first met her when she was three and her parents were thinking that they’d like to sell their Capitol Hill rowhouse and move to the close in Montgomery County suburbs. We “met” them through the internet and quickly decided that we were a good match.

Visiting homes is not every three year old’s favorite pastime…but Esme was a trooper. She often showed up with her parents in “dress up” clothes and I remember a hot summer day when her bathing suit was the favorite (and appropriate in the 90 degree heat) attire. It was fun to visit homes where there were obviously children in residence and she could admire their toys…and pretty boring when that wasn’t the case. Of course, vacant houses are always the exception to that rule. There’s something about young children and the “freedom” they feel in vacant houses…it’s fun to watch.

Esme and her parents only took a few months to find the “perfect” home in Bethesda. It wasn’t the totally updated house that they had first described that they wanted, but it has a wonderful yard and is conveniently located to jobs and schools. Next fall, Esme will be able to go to the local public school…..which will make life especially easy for the entire family.

Happy Birthday, Esme! Give your parents a big hug and let’s try to meet soon for...

Eating My Words...And Where Are Prices Going?

It's been quite a few days since I've posted here at KoitzGroup.com but that's not to say I haven't been chiming in on Washington DC area real estate issues elsewhere.  Since I just write the blogs and Kevin puts them online, I'm not sure where they go!  But he assured me you'd find a couple of my newer posts at my REW blog.  Here's a quick summary of some of this most recent content. 

Last week, I wrote an article confessing to have erred in a previous post in which I predicted a quick sale on a certain Bethesda home and what exactly my misstep said about the ever-changing market.  Titled "My Bethesda Real Estate Prediction - Eating My Words", it's a fun and quick read!

I followed up my concession of failure (!) with a post I hope you’ll all read titled

"Washington DC Real Estate Housing Prices…where are they going?"It speaks to Metropolitan area real estate and how everyone has a different take on what the futures holds. What’s most fun in this article is taking a look back at previous predications from “experts” – it helps put everything into context.

Stay tuned for more market reports here and at my REW blog and a new post I’m starting to research regarding the new conforming loan limit.  Stay warm out there!

...

Washington DC Real Estate Report (Zip Code 20008)

| Washington DC Real Estate Sales Report (20008 Zip Code) |

A look into the Washington DC area real estate market through examining micro-markets. This market report centers on data from the NW Washington DC 20008 zip code in January 2007 and January 2008. This affluent area includes a variety of different sub-divisions. Some of the more recognized include Kalorama, Forest Hills, Woodley Park, and portions of both Cleveland Park and Dupont Circle. Here's a review and breakdown:

Washington DC Single Family Homes (Zip Code 20008)

...
  January 2007 January 2008
Number of Homes Sold
8 8
Total Sold Dollar Volume 
$10,338,400 
$11,417,999
Average Sold Price* 
$1,292,300 
$1,427,250
Average Days on Market*       
56 82
Ave. Sales Price as a % of Ave List Price* 95% 94%
Number Sold over $1 M 
3 5**

The Super Bowl Theory Proved?

Hello all: as many of you know from speaking to me directly or reading my previous blog posts, I firmly believe that there is a specific time-frame where the Washington DC area real estate market is most active.  I just posted a new entry in my REW blog reporting on my observations about the this "Super Bowl to Mother's Day theory".  I hope you get a chance to read it!     

...

Kensington MD Real Estate Real Estate Report (Zip Code 20895)

Kensington Real Estate Sales Report

A look into the Washington DC area real estate market through examining micro-markets.  In this specific case, we compared home sales data in Kensington Maryland homes (a close-in suburb to the north of Washington DC) in January 2007 and January 2008.  Here's a review and breakdown:

Kensington Maryland Homes (Zip Code 20895)

...
 

Jan. 2007

Jan. 2008

Number of Homes Sold 

20

8

Total Sold Dollar Volume

$11,064,900

$4,291500

Average Sold Price*       

$553,245

$536,438

Average Days on Market* 

80

188

Ave. Sales Price as a % of Ave List Price*  

Chevy Chase MD Real Estate Report (Zip Code 20815)

Chevy Chase Maryland Real Estate Sales Report

A look into the Washington DC area real estate market through examining micro-markets.  In this specific case, we compared home sales data in Chevy Chase Maryland in January 2007 and January 2008.  Here's a recap and analysis: 

Chevy Chase Maryland Single Family Homes (Zip Code 20815)

...
  January 2007                    January 2008 
Number of Homes Sold     14 14
Total Sold Dollar Volume    $16,809,400    $3,195,000
Average Sold Price*       $1,200,671  $798,750
Avergae Days on Market*   89 68
Ave. Sales Price as a % of Ave List Price*          97% 96%
Number Sold over $1 M    5 1
Number Sold over $2 M        2 0

Bethesda Real Estate Sales Report (20814)

Bethesda Real Estate Sales Report

A look into the Washington DC area real estate market through examining micro-markets.In this specific case, we compared homes and townhomes sales data in Bethesda "downtown and vicinity" (Zip Code 20814) Maryland inJanuary 2007 and January 2008.Here's a recap and analysis:

Bethesda Homes and Townhomes (For Zip Code 20814)

...
   Jan. 2007   Jan. 2008
Number of Homes Sold    19  8
Total Sold Dollar Volume  $16,899,915    $6,855,000
Average Sold Price*    $889,469     $856,876
Average Days on Market*      78  65
Ave. Sales Price as a % of Ave List Price*     96%  97%
Number Sold over $1 M  78  65

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