King Farm MD Homes For Sale Market Wrap Up

King Farm MD Homes For Sale – two weeks ago I wrote a short piece about a different community, also located in the same general vicinity and in the same zip code, but sometimes things can change in two weeks, which is why I decided to write another post about this part of town.  Two weeks ago, the graph I included had the median asking price of homes for sale hovering right around $400,000.  However, since then, as you can see if you track the black line below, that same measurement has dropped a fair amount and now sits much closer to  $380,000, which is a $20,000 drop, or 5%, in just 14 days.  If you are a seller of a King Farm MD homes, you cannot be very happy about that development.

King Farm MD homes for sale asking prices

Let’s take a look at another market statistic that I reviewed a few weeks back, and see how that has changed.  This time we are going to look at how long homes are staying on the market, or DOM (days on market).  It appears that at the time of my last article, homes for sale were taking about 120 days to leave the market, but as of the most recent numbers generated, that score has jumped to 133 or 134, a two week increase!

King Farm MD homes for sale DOM

The combination of these two values is not what we were hoping to see with King Farm MD homes for sale!  In just the past few weeks, we have seen home values drop $20,000 and those same homes are now taking two week longer to leave the market!  I understand that the graphs above are for the larger area of Rockville, but I think it is fair to assume that as that market goes, so goes the King Farm real estate market.  If there is suddenly fewer home buyers available all around, that will affect each and every community in the area.  And the same is true of asking price, if sellers are feeling more and more competition and are more willing to slash prices in order to steal that one elusive buyer from their neighbor down the street, that will certainly affect each and every one of us.

About Rich Jones