Glen Echo Heights - October 2010

Finding the home of your dreams just got easier...

Glen Echo Heights

November, 2010

Josette SkillingAssociate Broker

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Long & Foster Real Estate, Inc. · 4733 Bethesda Avenue · Bethesda, MD 20814If your home is currently listed for sale with another broker, this is not intended as a solicitation of that listing

Glen Echo Heights

November, 2010

TABLE OF CONTENTS

Market Dashboard Page 2-3

Neighborhood Comparisons Page 4


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Cell: 301-385-9213

Office: 240-497-1700

Fax: 240-465-2168

Email: [email protected]

Bethesdabuzz.com


Long & Foster Real Estate, Inc. · 4733 Bethesda Avenue · Bethesda, MD 20814If your home is currently listed for sale with another broker, this is not intended as a solicitation of that listing

Glen Echo Heights

November, 2010

TABLE OF CONTENTS

Market Dashboard Page 2-3

Neighborhood Comparisons Page 4


10

Th SaFWTuMSu

1 2 6

27

13

20

7

14

21

28

4 53

29 30

8

15

22

9 11 12

18 19

2625

16 17

2423

Cell: 301-385-9213

Office: 240-497-1700

Fax: 240-465-2168

Email: [email protected]

Bethesdabuzz.com

Glen Echo Heights - October 2009 vs 2010

$400,000$900,000

$1,400,000

Median Price

99%100%

101%102%

List to Sale Ratio

0 50 100 150 200

Days on Market

0

2

4

6

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sold 2009 vs 2010

2009 2010 -75%

150

200

250 Days on Market 2009 vs 2010 -96%

0 1 2 3 4

Sold

2010 2009

1 7 100% $759,002010

2009 4 166 101% $1,301,500Active Single Family Homes for Sale

Single Family Homes Under Contract

Address Original Price List Price DOMP Style BR FB HB ListDate

5124 WAUKESHA RD $615,000 $615,000 13 Cape Cod 2 2 0 10/29/2010

5316 WANETA RD $899,900 $899,900 22 Colonial 4 2 1 10/20/2010

6106 MADAWASKA RD $945,000 $920,000 224 Contemporary 4 3 0 8/11/2010

5417 MOHICAN RD $1,095,000 $1,095,000 177 Other 3 2 0 5/18/2010

5118 SANGAMORE RD $1,239,500 $1,098,000 65 Colonial 5 4 1 9/7/2010

6323 WISCASSET RD $1,550,000 $1,470,000 91 Cottage 4 3 0 8/12/2010

5415 MOHICAN RD $1,600,000 $1,600,000 177 Other 5 3 1 5/18/2010

6212 WISCASSET RD $1,975,000 $1,975,000 115 Colonial 5 5 1 7/19/2010

24 WISSIOMING CT $8,730,000 $7,499,000 783 Contemporary 4 5 2 4/13/2010

$400,000$900,000

$1,400,000

Median Price

99%100%

101%102%

List to Sale Ratio

0 50 100 150 200

Days on Market

0

2

4

6


Sold 2009 vs 2010

2009 2010 -75%

0

50

100

150

200

250


Days on Market 2009 vs 2010 -96%

75%

80%

85%

90%

95%

100%

105%


List to Sale Ratio 2009 vs 2010 -1%

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000


Median Price 2009 vs 2010-42%

0 1 2 3 4

Sold

2010 2009

1 7 100% $759,002010

2009 4 166 101% $1,301,500Active Single Family Homes for Sale

Single Family Homes Under Contract

Single Family Homes Sold in 2010

Address Original Price List Price DOM Style BR FB HB ListDate ContractDate CloseDate

5102 WEHAWKEN RD $729,000 $729,000 2 Rambler 3 2 0 9/10/2010 9/11/2010 11/10/2010

6224 WISCASSET RD $899,900 $899,900 14 Colonial 5 4 1 10/7/2010 10/21/2010 11/30/2010

6215 WINNEBAGO RD $1,298,000 $1,100,000 41 Contemporary 4 4 1 8/14/2010 11/1/2010

6105 WINNEBAGO RD $1,130,000 $1,130,000 61 Split Level 4 3 0 8/5/2010 10/5/2010 11/29/2010

Address Original Price List Price DOMP Style BR FB HB ListDate

5124 WAUKESHA RD $615,000 $615,000 13 Cape Cod 2 2 0 10/29/2010

5316 WANETA RD $899,900 $899,900 22 Colonial 4 2 1 10/20/2010

6106 MADAWASKA RD $945,000 $920,000 224 Contemporary 4 3 0 8/11/2010

5417 MOHICAN RD $1,095,000 $1,095,000 177 Other 3 2 0 5/18/2010

5118 SANGAMORE RD $1,239,500 $1,098,000 65 Colonial 5 4 1 9/7/2010

6323 WISCASSET RD $1,550,000 $1,470,000 91 Cottage 4 3 0 8/12/2010

5415 MOHICAN RD $1,600,000 $1,600,000 177 Other 5 3 1 5/18/2010

6212 WISCASSET RD $1,975,000 $1,975,000 115 Colonial 5 5 1 7/19/2010

24 WISSIOMING CT $8,730,000 $7,499,000 783 Contemporary 4 5 2 4/13/2010

Address Original Price Price at Sale Sold Price List/Sale Subsidy DOM Style BR FB HB List Date Contract Date Close Date

5108 WAUKESHA $500,000 $500,000 $500,000 100% $0 0 6/25/2010 6/25/2010 6/25/2010

7025 MACARTHUR BLVD $625,000 $625,000 $560,000 90% $0 221 Cottage 0 1 0 4/29/2009 12/4/2009 1/5/2010

6212 WISCASSET RD $650,000 $650,000 $625,000 96% $0 37 Rambler 3 2 0 6/4/2010 6/4/2010 8/4/2010

6200 WALHONDING RD $719,000 $719,000 $680,000 95% $0 9 Contemporary 3 1 1 6/10/2010 6/18/2010 7/30/2010

5315 WAPAKONETA RD $750,000 $750,000 $760,000 101% $0 9 Bilevel 4 3 0 4/29/2010 5/7/2010 7/9/2010

5209 WEHAWKEN RD $799,000 $799,000 $799,000 100% $0 5 Colonial 4 3 1 12/11/2009 12/16/2009 1/29/2010

6105 MADAWASKA RD $799,000 $799,000 $799,000 100% $4,000 0 Rambler 9/10/2010

5024 WISSIOMING RD $859,900 $839,900 $814,703 95% $0 27 Colonial 4 3 0 3/26/2010 4/22/2010 6/25/2010

5512 MOHICAN RD $830,000 $830,000 $834,550 101% $0 10 Contemporary 4 2 0 6/2/2010 6/11/2010 7/27/2010

5405 MOHICAN RD $860,000 $860,000 $860,000 100% $0 0 Contemporary 5 3 0 6/13/2010 6/13/2010 7/8/2010

5117 WISSIOMING RD $919,500 $919,500 $895,000 97% $0 16 Beaux Arts 4 4 0 4/8/2010 4/24/2010 6/10/2010

6208 DAHLONEGA RD $1,175,000 $985,000 $910,000 77% $0 148 Contemporary 5 3 0 10/27/2009 3/22/2010 4/23/2010

6308 WISCASSET RD $929,000 $929,000 $919,000 99% $0 5 Colonial 3 3 1 7/14/2010 7/19/2010 8/11/2010

5702 MOHICAN RD $1,150,000 $1,150,000 $1,140,000 99% $0 6 Colonial 4 3 1 4/14/2010 4/20/2010 6/21/2010

5128 WISSIOMING RD $1,349,000 $1,349,000 $1,225,000 91% $2,000 189 Arts & Crafts 6 4 2 10/31/2009 12/31/2009 2/12/2010

5119 WAUKESHA RD $2,399,000 $1,999,000 $1,865,000 78% $0 64 Colonial 6 6 0 4/9/2010 6/12/2010 7/21/2010

3340

2938

48

3226

2015

30

16

0

20

40

60

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Total Homes Sold Annually

3866

4424

57 4470

95122

152

47

0

50

100

150

200

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Days on Market Annually

Brought to you by... Josette Skilling

99%95%

103%100%

97% 98%96% 95%

93%90%

93%

80%85%90%95%

100%105%

List to Sale Ratio Annually

How's The Market?

If we look at the data on a yearly basis, so many of the signs are good right now: days on market are down, list to sale ratio (what sellers get of their

asking price) is up and median price is up when we compare to how last year ended. On a month to month comparison all those arrows pointing

downward don't look so great! Unless those numbers become a persistent trend though, it's better to look at the data over the longer term.

Last year there were 30 sales in the neighborhood but this year with only 16 sales completed, 4 homes under contract and what is currently active it's

not likely that we'll see that many sales again. As I write this it's mid- November and I would not anticipate that much more inventory coming on before

spring. But for a well priced home that has found the sweet spot in both price and condition, the buyers out this time of year are very serious.

If you have any plans to test the market for price, it will be deadly. Buyers are still spooked by the markets and they have plenty of choices in homes to

buy, even when they are looking for specific school districts. I spend a lot of time looking at homes in person as well as understanding the pricing trends

nationally, in the County, the zip code and right in this neighborhood. Rates are super now - a little over 4% right now - but lending standards are tight.

Very tight. Money has freed up in the upper brackets but not so fast as needed to move more of the luxury product. That part of the market has really

been hit hard.

In the under $1M range many homes have moved very quickly as you can see by the days on market for the sold properties and those under contract.

And up to $1.2M or so the sales have been good here and in other parts of Bethesda, but for over $1.5M that market is much tougher and requires a

hard look at price and condition as well as the expectation that time on market will be much longer and we'll have to ensure very broad marketing

coverage to find the right buyer. I have very aggressive Internet marketing campaigns in order to get the best exposure for any listings and it does

work. Priced well, presented beautifully and exposed to the widest possible audience will mean you have the best chance to be the next house sold!

Until next month! Enjoy the holiday and family time we all cherish this time of year...

3340

2938

48

3226

2015

30

16

0

20

40

60

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Total Homes Sold Annually

3866

4424

57 4470

95122

152

47

0

50

100

150

200

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Days on Market Annually

Information included in this report is based on data supplied by MRIS and reflects the activity of single family homes in zip code 20816.

The information is deemed reliable but not guaranteed.

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Median Price $455,000 $556,250 $620,000 $748,500 $735,113 $925,000 $992,500 $865,750 $999,999 $795,000 $824,627

Appreciation 22% 11% 21% -2% 26% 7% -13% 16% -20% 4%

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

81%Median Price Appreciation since 2000

$795,000

$824,627

$780,000

$785,000

$790,000

$795,000

$800,000

$805,000

$810,000

$815,000

$820,000

$825,000

$830,000

Yearly Median Price Change2009 vs 2010

2009 Median Price 2010 Median Price

4%

Brought to you by... Josette Skillingfinding the home of your dreams just got easier...

99%95%

103%100%

97% 98%96% 95%

93%90%

93%

80%85%90%95%

100%105%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

List to Sale Ratio Annually

How's The Market?

If we look at the data on a yearly basis, so many of the signs are good right now: days on market are down, list to sale ratio (what sellers get of their

asking price) is up and median price is up when we compare to how last year ended. On a month to month comparison all those arrows pointing

downward don't look so great! Unless those numbers become a persistent trend though, it's better to look at the data over the longer term.

Last year there were 30 sales in the neighborhood but this year with only 16 sales completed, 4 homes under contract and what is currently active it's

not likely that we'll see that many sales again. As I write this it's mid- November and I would not anticipate that much more inventory coming on before

spring. But for a well priced home that has found the sweet spot in both price and condition, the buyers out this time of year are very serious.

If you have any plans to test the market for price, it will be deadly. Buyers are still spooked by the markets and they have plenty of choices in homes to

buy, even when they are looking for specific school districts. I spend a lot of time looking at homes in person as well as understanding the pricing trends

nationally, in the County, the zip code and right in this neighborhood. Rates are super now - a little over 4% right now - but lending standards are tight.

Very tight. Money has freed up in the upper brackets but not so fast as needed to move more of the luxury product. That part of the market has really

been hit hard.

In the under $1M range many homes have moved very quickly as you can see by the days on market for the sold properties and those under contract.

And up to $1.2M or so the sales have been good here and in other parts of Bethesda, but for over $1.5M that market is much tougher and requires a

hard look at price and condition as well as the expectation that time on market will be much longer and we'll have to ensure very broad marketing

coverage to find the right buyer. I have very aggressive Internet marketing campaigns in order to get the best exposure for any listings and it does

work. Priced well, presented beautifully and exposed to the widest possible audience will mean you have the best chance to be the next house sold!

Until next month! Enjoy the holiday and family time we all cherish this time of year...

2010 2010 2010 2009 2010 2009

Subdivision # of Sales DOM Avg Sold Price Avg Sold Price % Change Yr to Yr Med Sold Price Med Sold Price % Change

AU Park 1 132 $725,000 $698,500 4% $725,000 $698,500 4%

Beacon Hill 2 9 $1,349,500 $1,249,000 8% $1,349,500 $1,249,000 8%

Brookdale 4 68 $779,500 $820,000 -5% $792,000 $820,000 -3%

Brookmont 4 111 $760,125 $970,800 -22% $720,750 $660,000 9%

Crestview 13 40 $687,538 $515,429 33% $629,000 $530,000 19%

Fairway Hills 4 13 $692,925 $687,238 1% $700,000 $717,500 -2%

Fort Sumner 3 106 $1,090,000 $1,070,000 2% $1,135,000 $1,100,000 3%

Glen Cove 3 82 $1,059,667 $1,545,000 -31% $950,000 $1,545,000 -39%

Glen Echo Heights 16 47 $886,641 $1,163,063 -24% $824,627 $795,000 4%

Glen Mar Park 9 58 $708,722 $937,063 -24% $725,000 $792,500 -9%

Greenacres 4 6 $639,750 $667,786 -4% $629,500 $685,000 -8%

High Point 1 8 $870,500 $980,643 -11% $870,500 $820,000 6%

Mass Ave Hills 2 211 $1,512,500 $1,038,500 46% $1,512,500 $1,038,500 46%

Spring Hill 1 26 $1,625,000 n/a n/a $1,625,000 n/a n/a

Springfield 11 47 $1,098,045 $882,977 24% $864,500 $864,500 0%

20816 Neighborhood Statistics for 2010 (As of September, 2010)

Springfield 11 47 $1,098,045 $882,977 24% $864,500 $864,500 0%

Sumner 15 39 $1,074,380 $1,175,504 -9% $1,050,000 $1,155,000 -9%

Tulip Hill 1 5 $940,000 $973,333 -3% $940,000 $940,000 0%

Westgate 7 24 $764,714 $796,000 -4% $725,000 $801,000 -9%

Westhaven n/a n/a n/a $865,000 n/a n/a $865,000 n/a

Westmoreland Hills 20 83 $1,257,425 $1,192,750 5% $1,166,750 $1,175,000 -1%

Westwood 2 30 $902,500 $854,200 6% $902,500 $845,000 7%

Wood Acres 18 28 $869,528 $817,236 6% $841,250 $814,500 3%Yorktown Village 2 49 $925,000 n/a n/a $925,000 n/a n/a

2010 Zip code 20816 145 50 $951,303 $860,000

2009 Zip code 20816 173 74 $966,027 $839,000

% Change Yr to Yr -32% -2% 3%

Information included in this report is based on data supplied by MRIS and reflects the activity of single family homes in zip code 20816.

The information is deemed reliable but not guaranteed.

Brought to you by... Josette Skillingfinding the home of your dreams just got easier...

Glen Echo Heights - October 2010

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