Kentlands MD Homes For Sale – October Market Update

Five or six weeks ago I wrote a brief article on this site about Kentlands MD homes for sale, and discussed how much better this real estate market was faring than most other parts of town, or even the country.  Last we discussed, the median asking price for homes for sale in the Gaithersburg area, of which Kentlands is just one small area, was right at $575,000.  And it appears that even five weeks later, we are still holding on to that price point, which marks a $75,000 jump from the same time of year in 2009.  I can assure you that most areas are not witnessing a 15% rise in asking prices in 2 years, so if you live in this community, make sure to count your blessings!

Gaithersburg MD homes for sale

Having taken a course or two in macro economics, way back in college, I think I remember the basic premise that when prices rise, we should expect supply, or home inventory in this case, to decrease.  But look at what is really happening in Gaithersburg.  The chart below shows the inventory levels for the whole area, including Kentlands homes for sale.  Instead of falling inventory levels, which would reduce the supply of homes on the market, we are seeing the exact opposite.  Since this time last year, we have seen the number of houses being marketed as available has actually increased from 150 units last October to our current level of 325 properties, over a 100% increase in just one year!  And even if we take it out two years, we will see that we are still seeing more sellers trying to unload their homes, almost 15% more!

Gaithersburg MD homes for sale inventory

If you live in this area, or any other community in or around DC, and would like to get more personalized information about your situation, please don’t hesitate to contact us right away and we will be happy to provide you with whatever info you need to make the best decision for you and your family.

 

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