Ibi Sofillas

A few days ago, I reported that the number of homes sold during September in Clarksburg, MD increased over last September.

In looking at the bigger picture of Montgomery County, we see the same trend.

A total of 768 homes sold in September 2008, a 31.73 percent increase over September 2007. The total sold volume was $351,771,293 -- a 17.98 percent increase over last year.

The median selling price was down, indicating that more homes are selling in the lower price ranges than last year, and the days on the market average shows that homes are lingering for sale longer than last year by 23.17 percent.

So there are more buyers than last September, but they are taking their time in making a decision.

Given all the bleak economic news I've been seeing in the newspapers and on television, it was a nice surprise to see the monthly update from the Realtor database that was released today.

The total dollar volume of homes sold in Clarksburg last month was $6,570,174, which is an increase of 58.20 percent compared to September 2007.

The number of homes sold almost doubled in September 2008 compared to September 2007 (Fourteen versus eight), and the median selling price of those homes dropped by only 0.31 percent. So that's the good news.

If you're a seller, the not-so-great news is that, on average, homes are taking substantially longer to sell -- an average of 210 days compared to 67 last year. Part of that increase is attributable to "short sales," where owners are attempting to sell homes for less than they owe the bank. The lender reviews that are required for each of these sales can be very time consuming, which is one factor that is driving up the days-on-the-market statistics.

A hotel, a gas station, a convenience store, and two restaurants are being planned for the Cabin Branch neighborhood of Clarksburg on the west side of I-270.

The developers met with the Clarksburg Civic Association Planning Commitee last week and said they hoped to have several of the businesses under construction within the next year and a half.

A separate development of both residential and commercial properties is planned for the old Comsat property on the east side of I-270.

We'll keep you posted on these developments as news becomes available.

Apparently, the latest plan for the Clarksburg Town Center retail district faces further delays.

Robert Kronenberg, of the Maryland National Capital Park and Planning Commission, announced that the Newland Communities missed the deadline for responding to the Commission's questions about the newest plans for the retail district.

This means that the Planning Board hearing originally scheduled for October 16 will have to be postponed at least until November. When the hearing is actually held will depend on whether Newland has responded to the issues raised by Planning Board staff back in June.

So the waiting continues....

The August statistics for home sales in Clarksburg have just been released from the Realtor database and I thought they'd be of interest to all.

A total of $7.8 million worth of homes sold in Clarksburg in August 2008, which is an increase of 20.5 percent over August 2007. Seventeen homes sold versus thirteen last year, and the average price of those homes was down 8.19 percent.

The average days on the market decreased by 8.16 percent in that timeframe.

So, in summary, a larger number of lower-priced homes are selling more quickly, as compared to August 2007.