Keller Williams Capital Properties · 801 D St, NE · Washington, DC 20002

C: 301.385-9213 P: 202.243.7700 E: J.Skilling@verizon.net

www.bethesdabuzz.com If your home is currently listed for sale with another broker, this is not intended as a solicitation of that listing

January

2011

TABLE OF CONTENTS

Active/Under Contract Page 2

Homes Sold in Your Neighborhood Page 2

2010 At a Glance Page 3

Neighborhood Comparisons Page 4

Let’s take a look Let’s take a look Let’s take a look Let’s take a look backward at the real estate market for 2010. After a very active year in which we saw a 3% median price gain in zip code 20816 and an overall median gain in Glen Echo Heights of 7% it will be interesting to see what is in store for 2011. Sales were down 13% from last year and overall sales volume was down 34% from 2009 but as a result of the decreased inventory and historically low interest rates, days on market took a whopping 72% tumble from last year’s high of 152 days (at least since 2000). The list to sales price ratio is the amount of the asking price that sellers received. There was a 1% change from last year; this year means on average homes sold for 9% less than their asking price but

buyers still need to be careful not to apply that across the board and to look carefully at the makeup of the data. As you can see by the sold chart below, 5 homes which sold for more than a 20% reduction in their price contributed to the list to sales ratio. Many homes sold quickly and for very close to or more than their asking price. Of note, the old Sycamore Store also sold this year for $560,000 after 221 days on market. To see this data monthly, you can always view the extended market reports on my website. I track the Bethesda zip codes as well as maintain a current look at Glen Echo Heights there with enough geeky charts for those who love data… http://goo.gl/9In4R - This Subdivision

http://goo.gl/3Qpsd - Zip Code 20816

Condition and price rule. I sold many homes last year with multiple offers because we took the time to get them in terrific shape, photographed them professionally and made them easy to see or show. Price was exactly right to

attract buyers.

“There are active buyers in the

market who are looking for

good homes, priced to sell”

The next page has a quick overview of the general stats for the year. If you are

interested in how the market trends

apply to your house, feel free to drop

me an email or chat on the phone…

There is currently nothing under contract and only four houses remain

Keller Williams Capital Properties · 801 D St, NE · Washington, DC 20002

C: 301.385-9213 P: 202.243.7700 E: J.Skilling@verizon.net

Glen Echo Heights Market Report

Address Orig. Price Price at Sale Sold Price List/Sale Subsidy DOM Style BR FB HB List Date Contract Date Close Date

5108 WAUKESHA $500,000 $500,000 $500,000 100% $0 0 6/25/2010 6/25/2010 6/25/2010

5314 WANETA RD $575,000 $575,000 $575,000 100% $0 0 3/17/2010

6212 WISCASSET RD $650,000 $650,000 $625,000 96% $0 37 Rambler 3 2 0 6/4/2010 6/4/2010 8/4/2010

6200 WALHONDING RD $719,000 $719,000 $680,000 95% $0 9 Contemporary 3 1 1 6/10/2010 6/18/2010 7/30/2010

5209 WYOMING ROAD $685,000 $685,000 $685,000 100% $0 0 11/15/2010

6217 WALHONDING RD $700,000 $700,000 $700,000 100% $0 0 Rambler 2/16/2010

5102 WEHAWKEN RD $729,000 $729,000 $740,000 102% $0 2 Rambler 3 2 0 9/10/2010 9/11/2010 11/10/2010

5315 WAPAKONETA RD $750,000 $750,000 $760,000 101% $0 9 Bilevel 4 3 0 4/29/2010 5/7/2010 7/9/2010

5209 WEHAWKEN RD $799,000 $799,000 $799,000 100% $0 5 Colonial 4 3 1 12/11/2009 12/16/2009 1/29/2010

6105 MADAWASKA RD $799,000 $799,000 $799,000 100% $4,000 0 Rambler 9/10/2010

5417 MOHICAN RD $1,095,000 $1,095,000 $800,000 73% $0 188 Other 3 2 0 5/18/2010 11/21/2010 12/30/2010

5024 WISSIOMING RD $859,900 $839,900 $814,703 95% $0 27 Colonial 4 3 0 3/26/2010 4/22/2010 6/25/2010

5512 MOHICAN RD $830,000 $830,000 $834,550 101% $0 10 Contemporary 4 2 0 6/2/2010 6/11/2010 7/27/2010

5405 MOHICAN RD $860,000 $860,000 $860,000 100% $0 0 Contemporary 5 3 0 6/13/2010 6/13/2010 7/8/2010

6224 WISCASSET RD $899,900 $899,900 $879,000 98% $5,000 14 Colonial 5 4 1 10/7/2010 10/21/2010 11/30/2010

5117 WISSIOMING RD $919,500 $919,500 $895,000 97% $0 16 Beaux Arts 4 4 0 4/8/2010 4/24/2010 6/10/2010

6110 WALHONDING $898,340 $898,340 $898,340 100% $0 0 1/5/2010

6208 DAHLONEGA RD $1,175,000 $985,000 $910,000 77% $0 148 Contemporary 5 3 0 10/27/2009 3/22/2010 4/23/2010

6308 WISCASSET RD $929,000 $929,000 $919,000 99% $0 5 Colonial 3 3 1 7/14/2010 7/19/2010 8/11/2010

5118 SANGAMORE RD $1,239,500 $1,098,000 $977,000 79% $0 77 Colonial 5 4 1 9/7/2010 11/22/2010 12/17/2010

6105 WINNEBAGO RD $1,130,000 $1,130,000 $1,050,000 93% $5,000 61 Split Level 4 3 0 8/5/2010 10/5/2010 11/29/2010

6215 WINNEBAGO RD $1,298,000 $1,100,000 $1,100,000 85% $0 41 Contemporary 4 4 1 8/14/2010 11/1/2010 12/4/2010

5702 MOHICAN RD $1,150,000 $1,150,000 $1,140,000 99% $0 6 Colonial 4 3 1 4/14/2010 4/20/2010 6/21/2010

5415 MOHICAN RD $1,600,000 $1,600,000 $1,160,000 73% $0 188 Other 5 3 1 5/18/2010 11/21/2010 12/30/2010

5128 WISSIOMING RD $1,349,000 $1,349,000 $1,225,000 91% $2,000 189 Arts & Crafts 6 4 2 10/31/2009 12/31/2009 2/12/2010

5119 WAUKESHA RD $2,399,000 $1,999,000 $1,865,000 78% $0 64 Colonial 6 6 0 4/9/2010 6/12/2010 7/21/2010

Glen Echo Heights Neighborhood Sales for 2010

90%90%

91%91%

90%

91%

1%

050

100150

200

152

42

-72%

2426

2830

30

26

20102009

-13%

$795,000

$847,275

$760,000$770,000

$780,000$790,000

$800,000$810,000

$820,000$830,000

$840,000$850,000

$860,000

Yearly Median Price Change2009 vs 2010

2009 Median Price 2010 Median Price

7%

active on the market as of this writing:

• 5124 Waukesha $595,000 • 6106 Madawaska $899,015 • 6323 Wiscasset $1,427,000 • 24 Wissioming $7,499,000 Current rates are still historically low at just under 5% and buyers are getting their financing in order to take advantage of good homes as they come on the market. I am currently working with several buyers who are waiting for inventory to come on the market in several neighborhoods in Bethesda, including Glen Echo Heights! A lot of national discussion is centered about the upcoming foreclosure inventory that banks have held back, and while this area is a bit more protected from the extreme variations in value we’ve seen in other parts of the county, it has unfortunately not been immune to financial distress. But buyers should not be expecting to see the same discounts they would in other cities, even in Montgomery County.

Want a cool monthly snapshot of the market? http://bethesdabuzz.com/whats-your-home-worth/

Since no homes or neighborhoods exist in a vacuum, it’s important to understand the wider trends of the zip code and county. There is a modest 3% median gain in zip code 20816 though many neighborhoods are showing losses over last year. With a fragile economy still trying to find its footing, it’s vital that sellers be very aware of the trends so they achieve their goal of a sale. No one

wants to just be on the market - they want to be IN the market!

Keller Williams Capital Properties · 801 D St, NE · Washington, DC 20002

C: 301.385-9213 P: 202.243.7700 E: J.Skilling@verizon.net

www.bethesdabuzz.com If your home is currently listed for sale with another broker, this is not intended as a solicitation of that listing

Single Family Homes Sold 2009 vs 2010

Average Days on Market 2009 vs 2010

Glen Echo Heights Market Report

List to Sale Price Ratio 2009 vs 2010

Josette Skilling Associate Broker

801 D Street, NE Washington, DC 20002 Cell: 301-385-9213 Office: 202-243-7700 J.Skilling@verizon.net www.bethesdabuzz.com

301-385-9213

2010 2010 2010 2009

Subdivision # of Sales DOM Med Sold Price Med Sold Price % Change

AU Park 2 68 $767,500 $698,500 10%

Beacon Hill 2 9 $1,349,500 $1,249,000 8%

Brookdale 5 54 $825,000 $820,000 1%

Brookmont 6 74 $720,750 $660,000 9%

Crestview 17 37 $629,000 $530,000 19%

Fairway Hills 5 10 $650,000 $717,500 -9%

Fort Sumner 5 102 $995,000 $1,100,000 -10%

Glen Cove 4 87 $914,500 $1,545,000 -41%

Glen Echo Heights 26 42 $847,275 $795,000 7%

Glen Mar Park 12 47 $725,000 $792,500 -9%

Greenacres 6 31 $609,500 $685,000 -11%

High Point 1 8 $870,500 $820,000 6%

Mass Ave Hills 3 148 $1,175,000 $1,038,500 13%

Spring Hill 2 19 $1,540,000 n/a n/a

Springfield 11 47 $864,500 $864,500 0%

Sumner 20 39 $1,088,500 $1,155,000 -6%

Tulip Hill 3 28 $1,025,000 $940,000 9%

Westgate 7 24 $725,000 $801,000 -9%

Westhaven n/a n/a n/a $865,000 n/a

Westmoreland Hills 25 78 $1,165,000 $1,175,000 -1%

Westwood 2 30 $902,500 $845,000 7%

Wood Acres 19 33 $840,000 $814,500 3%

Yorktown Village 3 35 $1,100,000 n/a n/a

2010 Zip code 20816 186 48 $865,750

2009 Zip code 20816 173 74 $839,000

% Change Yr to Yr 8% -35% 3%

20816 Neighborhood Statistics for 2010