Prices dropping in MoCo???
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Anonymous
I recall seeing one area that is currently BCC but may be rezoned for Whitman. That seems like a completely safe bet...and likely you get a bump if it gets rezoned for Whitman. |
Anonymous
| Inventory in my neighborhood is very low. Just two homes on the market. One has been on 4 weeks and the other 2 weeks, which is longer than anything was sitting around back in April. But it’s also the end of July and that’s never a great time to list. |
Anonymous
| A house on Porter St NW in another DCUM post dropped 1.3 million dollars. That is a crazy huge price drop!! |
Anonymous
Not just NIH. A lot of my friends were NOAA, FDA, and other agencies. |
Anonymous
Which one? |
Anonymous
https://www.dcurbanmom.com/jforum/posts/list/1284956.page |
Anonymous
This is Macomb...but flips for crazy amounts of money aren't really representative of the overall market. If you look at home sales in that area for the last 2 years, there are only two sales over $5MM (the price at which this one started) and only 2 sales between $4MM - $5MM. Yet, there are a total of like 50 home sales during that time period. |
Anonymous
Using this as an example isn't the flex you think it is. Their initial asking price -- for a badly flipped house -- was comically high for CP. It would have been comically high in 2021, or in any other year when the real estate market was overheated. |
Anonymous
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Yes it's dropping,
10-15% below last purchase price in 2023 - https://www.redfin.com/MD/Bethesda/5915-Lone-Oak-Dr-20814/home/183923691 Below purchase price in 2022 - https://www.redfin.com/MD/Bethesda/10024-Sinnott-Dr-20817/home/10675706 Below purchase price in 2021 - https://www.redfin.com/MD/Bethesda/7909-Paloma-Ct-20817/home/10701644 |
Anonymous
Two of these were new construction at the first sale. That is not a price drop, that is depreciation (like a new car 5 minutes after you drive it off the lot). The other hasn't sold yet so we don't have the final sales price, but it looks like the sellers got greedy. |
Anonymous
| Between the three big sites my values are 1,079,000 and 1,111,000 and 1,125,000. Fairly stable over the year with some ups and downs. 20854. The thing about living in a mega-mansion zip is that sometimes a sale or two will really distort your value, so immediate comps are much more important than website guesses. |
Anonymous
also due to two new builds and a sale on third home stops homestead exemption their high sale prices mean higher property taxes. So soncd mortgage rates way up since last sale and property taxes way up not a suprise all three got minor price cuts. New builds are only new builds once. |
Anonymous
Same builder, two houses side by side. exact same plan with same lot size Sold in 2024 - 2.2M - https://www.redfin.com/MD/Bethesda/5915-Lone-Oak-Dr-20814/home/183923691 Sold in 2025 - 2.07M https://www.redfin.com/MD/Bethesda/5917-Lone-Oak-Dr-20814/home/10676536 130K drop in price. |
Anonymous
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Sorry wrong price listed. Messed it up.
Correction: Same house plan, same builder, side by side. Sold in 2023 - 2.375M - https://www.redfin.com/MD/Bethesda/5915-Lone-Oak-Dr-20814/home/183923691 Sold in 2025 - 2.073M https://www.redfin.com/MD/Bethesda/5917-Lone-Oak-Dr-20814/home/10676536 300K drop in price for new built in 2 years. |
Anonymous
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Based on what I am seeing, market is mostly back to 2022 prices. I suspect it will be down or flat from here for years.
Housing market can remian flat for 10 years after a big run up. |