Avenel Homes For Sale See Median Asking Prices Drop $200,000

When sharing graphs and data from smaller areas, such as the Avenel real estate market in Potomac, MD, it sometimes becomes hard to weed out the correct data.  And when you can get the data from a large provider for a relatively small area, sometimes the amount of activity is so small as to make any generalizations suspect.  For that reason, when writing a broad post, such as this one, I tend to gather data from the larger area, and then interpret from there.  Obviously, I can gather data from our local MLS to get in depth data about Avenel, but to get the larger trend picture, I sometimes use the graphs from the larger community.  For instance, in this post I am hoping to get an idea of where homes in Avenel have been, and where they may be going, but I will be using graphs from the Potomac area to help me out.

Potomac MD Homes For Sale Pricing Chart

Yes, I realize that I am making an assumption, but I’m OK with that, but the assumption is that Avenel MD homes for sale will roughly follow trends from Potomac.  If you disagree with me, I’m happy to hear it, and will then provide a more detailed picture of Avenel homes.  But if you allow me to play loose tonight, let’s proceed.

Looking first at asking prices of homes for sale, we can see a pretty significant drop.  I’m sure that’s exactly what you wanted to hear!  Last year in early May, it appears that our trend line for Avenel was right around $1.57 million but that was already on the downswing.  That value kept dropping until it hit $1,300,000 and has been bouncing around quite a bit since then, never getting higher than $1.4 million (maybe just a bit higher) and then dropping again.  Our most current measurement has pegged the current median asking price at almost $1,350,000, a loss of almost $200,000 in just one year!

One more graph, very quickly:

Potomac MD homes for sale inventory levels

This isn’t very nice of me, is it?  First, I dump on you by showing a $200,000 loss in value, and now I am showing a graph with a huge spike in the number of homes hitting the market.  If you live in Avenel MD, and are thinking of putting your home on the market, these probably aren’t the kind of numbers you were hoping for.  But if you want to buy in this community, this just might be the best time in a long time!

If you are thinking of selling and are worried that there isn’t an agent out there who knows how to market high end homes in a depressed market, don’t worry!  Follow this link to my Avenel MD Home Seller Marketing Plan!

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