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Hungerford neighborhood, Rockville, MD

Prices in the Hungerford neighborhood went up by $30k-$40k or more (6-8%) during the past month or so according to Zillow. In the meantime, they report falling prices for the greater 20852 ZIP. If it is real, what is the reason for the sudden price increase in Hungerford?

Thank you in advance,
L4Real
  • July 14 2009 - Rockville
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Answers (1)

Average sales prices go up when more expensive homes outnumber the short sales or low prices during that month. So that can be misleading when you are trying figure out how much a particular house is going down or up in value. I keep stats for several down county neighborhoods closer to the Beltway, and I am finding that in late 2008 and the early part of 2009 the cheapest homes in the zip codes were dominating the market. But since May I have seen the higher prices in the individual neigborhoods selling better (relative term) so the average sales price is going up. But that doesn't mean the individual houses went up, just their better homes of their neighbors sold.

  • July 14 2009
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