Fallsgrove MD Homes For Sale Market Update

In late August of this year, I wrote a short post about Fallsgrove MD homes for sale and discussed the overall Rockville marketplace.  Today, I bring you another installment so that we can see how this community is faring with our current economic conditions.  Just as last time, I am using charts and graphs for the larger community of Rockville, but will assume, or extrapolate the data, to be consistent with that of the smaller area of Fallsgrove.

Rockville Md homes for sale asking prices

When I last wrote about the Fallsgrove area, median asking prices of homes that were for sale had just hit $400,000.  Since that time, it appears that the values dropped for just a week or two before bouncing right back to where they were, still $400,000.  However, the gold line, showing the trend line, now has a very pronounced downward trajectory, which indicates that if the current pattern holds that we are in for some downward pressure on prices.

Rockville MD homes for sale DOM

And while we are discussing trend lines moving in the wrong direction, let’s go ahead and look at this chart, which shows us how long Rockville MD homes for sale have been staying on the market, on average.  Again, for the sake of discussion, we are assuming that Fallsgrove homes are behaving in the same manner as the larger community of Rockville.  Look at the gold line, and you will see that since early July, it has been heading up week after week, meaning that homes are staying on the market longer and longer before being sold or simply just being taken off the market by the seller.

The good news, if there is any, is that we are just about where we were two years ago in 2009, when homes were taking 120 days, on average, to leave the market, pretty much the same as today.  At least we aren’t in much worse shape than a few years back, which many parts of town aren’t as lucky to be able to say.

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