SOLD | Serving the DMV | Inside the Beltway

8101 CONNECTICUT AVE, Chevy Chase MD 20815 | #LaurelsListing

One of the better,  if not the best value, inside the Beltway. 8101 Connecticut Ave Condo real estate sales were relatively slow compared to other years. Owners no doubt, like a lot of other sellers, took a wait-and-see approach. How long could the disruption caused by Covid really be? However, for owners that decided to forge ahead and sell their properties, it proved lucrative. So far in 2021, average days on market is 2, down from 7 in 2020. Grossing 104.14% of the list price, up from 98.32% in 2020. 

Great way to start the new year. 
I am currently having conversations with owners who no longer can or want to wait it out. 
Looks and feels like there will be more inventory at 8101 this year. 
What is for sale right now? Please call, text or email me for more information.


December: The Washington DC Metro Area Real Estate Market

These real estate markets reported record-setting activity in 2020, despite enduring a weaker spring market due to social distancing protocols.

The following analysis of the Washington, D.C. Metro housing markets has been prepared by Bright MLS and is based on December 2020 Bright MLS housing data.

In Summary:

  • In 2020, the total sales dollar volume for the D.C. metro reached $34.6 billion (+11.7%).
  • Total sales volume for the year (57,266) ended up 3.3%. Seven months of the year marked ten-year monthly highs.
  • New listing volume was essentially flat with 2019. Combined with strong buyer demand, it created the region’s tightest market on record.
  • The year saw buyers snap up homes across the metro area, as days on the market fell into the single digits for the first time (nine days).
  • In December, new pending sales showed an unprecedented year-over-year growth, up 30.3% in a traditionally slow month. It was the best gain for any month in the past ten years.

Where Are Home Values Headed Over the Next 12 Months?

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?

Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).

However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed:

“The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.”

Have prices continued to appreciate so far this year?

Last week, the Federal Housing Finance Agency (FHFA) released its latest Home Price Index. The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:

What are the experts forecasting for home prices going forward?

Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st.

Where Are Home Values Headed Over the Next 12 Months? | MyKCM

“Between May & July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991.”

Bottom Line

The numbers show that home values have weathered the storm of the pandemic. Let’s connect if you want to know what your home is currently worth and how that may enable you to make a move this year.


09.28.2020 Maryland Real Estate Trends Echos Much Of The Countries


August Housing Data Reveals a Robust Summer Market Amidst Declines in Inventory

  • Median Sale Price is up 9.7%
  • Average Sale Price up 11.2%
  • Months of Inventory down 60% to 1.4 months
  • Median days on market are down from 22 to 9
  • Seven of Maryland’s rural counties have seen over 20 percent increases in average prices over last year.
ANNAPOLIS, MD – September 28, 2020 Maryland’s August housing market demonstrated substantial recovery from spring’s COVID-related disruptions, according to housing statistics released by Maryland REALTORS®*. Data from June through August show both an increase in average and median home prices, and a decline in months of available inventory, echoing nationwide trends and sparking concern over housing imbalances.

“The average sales price increased year-over-year from $361,823 to $402,452 and the median price increased from $310,000 to $340,000, growth of 11.2 percent and 9.7 percent, respectively” said Maryland REALTORS® President John A. Harrison. “Months of inventory dropped 60 percent to just 1.4 months, compared to 3.5 last year, which is a historic low for the state. Moreover, the median days on market fell from 22 to 9 which aligns with stories we’ve heard of bidding wars and homes selling within hours of hitting the market.”

“The most notable, but unsurprising, feature of the current housing market is the sharp rise in activity in rural areas,” said Harrison. Seven of Maryland’s rural counties have seen over 20 percent increases in average prices over last year. With the rise in working from home, commute times are less of a factor. That and the relative affordability of rural areas make urban and some suburban communities less attractive. “The pandemic has prompted individuals and families to reimagine their housing requirements, often desiring home office space and more expansive outdoor living areas.”

It’s All About RE|lationships

It’s our goal as agents but we don’t always get too many opportunities to work with people more than once. I am so glad that Sam and Ben were some of those clients. It’s been so rewarding watching their progress and their success come to fruition.

One of the best benefits of working with first time home buyers is that I get to watch how their lives unfold.
I first met Sam and Ben in 2016. What a great starter home!

“Laurel is not only an amazing realtor but our friend for life. We met her when we were looking to buy our first home and she walked us through each step in the process, she was kind and patient. We felt like we could take our time finding the right fit. We called Laurel again, as our family grew and realized we needed something bigger, our forever home. This was at the beginning of COVID and we were anxious about the challenges that may come with selling and buying at this time. Laurel again, walked us through the process and was there for us when we had questions. She helped ease our fears and frustrations. She helped us sell our home quickly while ensuring we got the best deal possible, and was able to help us find our forever home in which we needed a very short time to close. Laurel was honest each step of the way and spoke honestly about the pros and cons of each home we looked at to ensure we found the right home for our needs. Laurel is not only knowledgeable but also trustworthy and personable. She made a journey that can sometimes be painful, fun and easy. The only downside to finding our forever home is not being able to work with her again!”

– Sam and Ben

Four years later, plus one little one, a masters degree and a whole lot of hard work and success, they bought their forever home.