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Olney, MD

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Olney, MD Detached Homes Sold in September 2009

10-10-09
Barbara Michaluk REALTOR® in Maryland
Barbara Michaluk REALTOR® in Maryland: Real Estate Agent in Leisure World, MD
  • view my blog
  • Office: (301) 681-0550 x131
  • Mobile: (240) 506-2434

Olney, MD Detached Homes Sold in September 2009

Olney, MD Closings in Septembe 2009

Address Subdivision City, State, Zip List Price Close Price Subsidy Close Date Style
17703 SAINT AGNES WAY HALLOWELL Olney, MD 20832 $499,000 $475,000 3-Sep-09 Colonial
18409 BOWIE MILL RD OLNEY SQUARE Olney, MD 20832 $349,900 $349,900 $10,497 14-Sep-09 Rambler
4801 BROOM DR BARNSLEY MANOR EST Olney, MD 20832 $799,000 $750,000 25-Sep-09 Colonial
4113 MORNINGWOOD DR WILLIAMSBURG VILLAGE Olney, MD 20832 $449,000 $449,000 $20,205 28-Sep-09 Colonial
5 HOLLY VIEW CT OLNEY MILL Olney, MD 20832 $449,900 $435,000 $10,800 28-Sep-09 Rancher
3621 MARTINS DAIRY CIR BROOKE MANOR FARMS Olney, MD 20832 $625,000 $615,000 28-Sep-09 Colonial
17812 WHIMSEY CT OLNEY OAKS Olney, MD 20832 $519,900 $495,000 29-Sep-09 Colonial
19620 CHARLINE MANOR RD OLNEY MILL Olney, MD 20832 $529,900 $515,000 $15,450 30-Sep-09 Colonial

Pending Sales in Olney, MD

Under Contract = 28

Active = 33

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Olney Area Supply and Demand Chart August 2009

10-01-09
Joe Buffington, GRI, CDPE
Joe Buffington, GRI, CDPE: Real Estate Brokerage in Olney, MD
  • view my blog
  • Office: (301) 774-5900 x147
  • Mobile: (301) 461-8925
  • Secondary: (301) 591-3434

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for August 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

WOW. August of 2009 was a complete anomaly from previous Augusts. Usually the real estate market in Olney goes quiet during this period because of July/August vacations. This year was an exception. If you were considering selling, now might be the right time to call a professional. The $8000 stimulus program along with low interest rates has really started to push the market along.

Our office has added several CDPEs. These are Certified Distressed Property Experts. They are great agents who can help their clients navigate short sales and foreclosures.

Absorption Rates:

August 2009 14.3% absorption rate

August 2008 10.8% absorption rate

August 2007 6.7% absorption rate

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Homes for sale in Olney, MD

09-30-09
Barbara Michaluk REALTOR® in Maryland
Barbara Michaluk REALTOR® in Maryland: Real Estate Agent in Leisure World, MD
  • view my blog
  • Office: (301) 681-0550 x131
  • Mobile: (240) 506-2434

Homes For Sale in OLNEY, MARYLAND

Olney is one of the most desirable communities in Montgomery County. There are approximately 8,000 homes in Olney. The zip codes are 20832 and 20833.

Voted by Money Magazine in 2007 as #17 out of the top 100 places to living in the country. You'll find every type of shopping and other services including public library, several banks, hospital, drug store, grocery stores, pet store, toy store, bakery, restaurants and more in this extremely family-friendly community.

There are currently 37 single family homes for sale in Olney, MD as follows:

Address Price BR's Full Baths Half Baths Levels Fireplace Garage Bsmt Acres Age Subdivision Style
2423 Westminster Dr $1,575,000 5 4 1 4 1 3 Yes 1.776 4 ANSCROFT Colonial
5038 Tothill Dr $625,000 4 4 1 3 1 2 Yes 0.408 9 BARNSLEY MANOR Colonial
4710 Broom Dr $725,000 4 3 1 3 1 2 Yes 0.224 9 BARNSLEY MANOR Colonial
18265 Wickham Rd $795,000 6 4 1 4 2 2 Yes 0.302 9 BARNSLEY MANOR Colonial
3456 Dartmoor Ln $525,000 4 2 1 3 1 2 Yes 0.288 23 BROOKVILLE KNOLLS Colonial
3224 Llewellyn Field Rd $529,000 6 3 1 3 1 1 Yes 0.273 36 BROOKVILLE Colonial
17248 Sandy Knoll Dr $459,000 5 3 1 2 1 2 Yes 0.41 28 CASHELL MANOR Colonial
17609 Goose Creek Rd $549,000 5 3 1 3 1 2 Yes 0.387 25 CASHELL MANOR Colonial
16905 Cashell Rd $412,000 4 3 1 3 1 1 Yes 0.246 21 CHERRYWOOD Colonial
4236 Cherry Valley Dr $569,986 4 2 2 3 1 2 Yes 0.304 23 CHERRYWOOD Colonial
100 Forest Crossing Dr $855,000 4 2 1 3 1 2 Yes 0 0 FOREST CROSSING Colonial
200 Forest Crossing Dr $999,900 4 3 1 4 1 2 Yes 0 0 FOREST CROSSING Colonial
300 Forest Crossing Dr $1,200,000 4 3 1 4 1 2 Yes 0 0 FOREST CROSSING Colonial
3325 Ashmore Ct $499,000 4 2 2 3 1 2 Yes 0.239 23 HALLOWELL Colonial
18400 Forest Crossing Ct $829,900 4 3 1 3 1 2 Yes 0.292 0 JAMES CREEK Colonial
18407 Forest Crossing Ct $1,200,900 4 3 1 4 1 2 Yes 0.175 1 JAMES CREEK Colonial
2505 Owens Rd $749,950 6 4 1 3 1 2 Yes 0.217 11 MANOR OAKS Colonial
2916 Ascott Ln $720,000 4 3 0 2 2 2 Yes 2.04 30 NORBROOK VILLAGE Rambler
4412 Winding Oak Dr $699,999 5 3 1 3 1 2 Yes 0.236 10 OATLAND FARM Colonial
17725 Overwood Dr $371,498 4 2 0 2 1 1 Yes 0.269 38 OLNEY ACRES Rancher
18704 Clover Hill Ln $409,000 3 2 1 2 0 0 Yes 0.344 38 OLNEY MILL Rambler
18912 Rolling Acres Way $409,900 4 2 0 2 1 0 Yes 0.236 35 OLNEY MILL Split Foyer
4420 Mount Olney Ln $419,000 4 2 1 2 0 0 Yes 0.379 37 OLNEY MILL Rambler
19404 Charline Manor Rd $474,900 4 2 1 2 2 2 Yes 0.416 38 OLNEY MILL Split Foyer
18162 Headwaters Dr $539,900 5 2 1 2 1 2 Yes 0.224 23 OLNEY OAKS Colonial
11 Shallow Brook Ct $1,500,000 5 4 0 3 4 2 Yes 2.326 83 OLNEY OAKS Colonial
18221 Darnell Dr $350,000 5 2 0 2 0 0 Yes 0.248 36 OLNEY SQUARE Rambler
18328 Queen Elizabeth Dr $385,000 6 4 0 3 1 0 Yes 0.232 37 OLNEY SQUARE Contemp
4254 Briars Rd $455,000 4 2 1 3 1 2 Yes 0.248 36 OLNEY SQUARE Colonial
17024 Georgia Ave $365,000 3 2 0 3 1 1 Yes 1.02 77 PT OLNEY OUT RES 2 Cape Cod
4713 Olney Laytonsville Rd $1,585,000 5 4 1 3 4 4 Yes 8.02 5 PT OLNEY OUT RES 2 Colonial
17601 Shamrock Dr $495,000 6 3 0 3 1 1 Yes 0.245 36 THE HGLDS OLNEY Colonial
4820 Chichester House Rd $724,700 5 4 0 2 1 2 Yes 0.338 0 THE RESERVE AT FAI Colonial
18628 Wickham Rd $783,300 4 3 1 2 2 2 Yes 1.078 0 THE RESERVE AT FAI Colonial
4806 Fair Hill Rd $869,900 4 4 1 2 1 2 Yes 0.78 1 THE RESERVE AT FAI Colonial
4204 Queen Mary Dr $429,900 3 3 0 2 1 0 Yes 0.517 40 WILLIAMSBURG Rambler
3508 King William Dr $899,900 7 6 0 3 4 2 Yes 0.56 56 WILLIAMSBURG Cape Cod

Contact Barbara Michaluk, Realtor for more information about homes for sale in Olney, Maryland or for a private tour.

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OLNEY, MARYLAND 20832 - REAL ESTATE TREND INDICATOR

09-17-09
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
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  • Office: (301) 921-4569

OLNEY, MARYLAND 20832 - REAL ESTATE TREND INDICATOR

If you are thinking about buying or selling a home in zip code 20832, you should take a close look at the following report that compares the statistics for the past month with the same month last year. During the month, there were 94 active listings of homes for sale in Olney. There were 31 new listings in the area and 26 properties went to pending new contracts. There were 18 settlements as compared to 24 homes sold last year. The total sold dollar volume was down 24.57%. The median sales price was $425,000. The average sales price was 96.47% of the average list price. The average days on the market was 49 as compared to 67 days last year. It is still a soft market which favors buyers. Buyers have the largest selection and the lowest prices that have been available for several years. First time buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009. Many buyers are using FHA financing to take advantage of the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include the cost of home improvements up to $35,000 in the mortgage amount.

Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 20832 Olney, MD
From: 08/01/2009 to 08/31/2009 Statistics generated on: 09/09/2009

Residential
Unit Sales
Number of Bedrooms		 Active Listings Time on Market
Price Class 2
Or Less
3		 4
or More 		Condo
Coop		 Ground
Rent		 Residential
 Condo
Coop		 Ground
Rent		 of Units Sold
(No. of Units)
Under $100,000 0 0 0 0 0 0 0 0 1 -30 Days 8
$100,000 - 149,999 0 0 0 0 0 0 2 0 31-60 Days 5
$150,000 - 199,999 0 0 0 0 0 0 3 0 61 - 90 Days 4
$200,000 - 249,999 0 0 1 2 0 6 3 0 91-120 Days 0
$250,000 - 299,999 0 0 0 1 0 9 6 0 Over 120 Days 1
$300,000 - 349,999 0 3 0 0 0 5 0 0 Total 18
$350,000 - 399,999 0 1 0 0 0 8 0 0
$400,000 - 449,999 0 2 3 0 0 14 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 10 0 0
$500,000 - 599,999 0 0 3 0 0 10 0 0 Conventional 13
$600,000 - 699,999 0 0 2 0 0 3 0 0 FHA 3
$700,000 - 799,999 0 0 0 0 0 5 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 4 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 1 0 0 Cash 1
$1,000,000 - 2,499,999 0 0 0 0 0 5 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 0 0 0 All Other 1
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 6 9 3 0 80 14 0 Total 18
Grand Totals 18 94
2009 2008 % Change
Total Sold Dollar Volume: $ 7,341,450 $ 9,733,200 - 24.57 %
Average Sold Price: $ 407,858 $ 405,550 0.57 %
Median Sold Price: $ 425,000 $ 415,500 2.29 %
Total Units Sold: 18 24 - 25.00 %
Average Days on Market: 49 67 - 26.87 %
Average List Price for Solds: $ 422,803 $ 437,328 - 3.32 %
Avg Sale Price as a
percentage of Avg List Price:		 96.47 % 92.73 %
Total NEW listings: 31
Total Properties Marked Contract: 14
Total Properties Marked Contingent Contract: 12
Total NEW pendings (Contracts + Contingents): 26

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.

Your Real Estate Professional,

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OLNEY SHORT SALE LISTINGS - MONTGOMERY COUNTY MD

09-03-09
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
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  • Office: (301) 921-4569

OLNEY SHORT SALE LISTINGS - MONTGOMERY COUNTY MD

There are 12 active short sale listings in Olney, Maryland.

Click the following URL to see the report. Sort by column headings.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-88154968-923

Why would you want to know about short sales when you are not currently in the real estate market? These listings have a great impact on market prices. The low prices compete with regular listings by individual sellers and prospective home buyers are attracted to bargain prices.

When you are searching for available homes, be sure to use Homes Prospector at www.roykelley.com for the most current information on available properties. This is a service of MRIS, our regional multiple listing service.

As you search for homes on line, many properties will appear to be attractive because of their lower prices. Home buyers and their agents need to understand when they are considering short sale listings. These are the properties that require lender approval for a sale because the proceeds will not cover the outstanding mortgage loan balance. Many of these are pre-foreclosure situations.

Why do buyer agents and their clients need to be careful with short sale listings? It a fact that many of these properties never reach settlement. Some go to foreclosure and some are withdrawn as the marketing efforts fail. We see many active listings, including many under contract, being sold at foreclosure auctions.

Buyers should check the mortgage status on any property being considered. If a foreclosure is pending, extra caution should be taken because a contract will be voided if the home is sold at a trustee sale at the court house entrance. Agents have access to foreclosure information on Matrix and individuals as well as agents can use www.marylandlandrec.net and other resources to check on the outstanding mortgage loans.

Check to determine what party will actually handle the negotiation of the short sale. And check the documentation of the home seller to determine if they have prepared all of the exhibits that will be required for the lender review of any offers. We recommend Village Settlements and their short sale negotiation services to our seller clients. There are others that also provide these professional services with no front end fees to the sellers. Many short sale packages end up being over 100 pages long, so great attention to detail and very close follow up efforts are needed for successful transactions.

When you find a home seller that has not prepared the required documentation of if the property is scheduled for a trustee sale, you may wish to move on to another property.

Many of our buyer clients have discovered that better results are obtained when the focus on lender owned foreclosures rather that potential short sales.

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