Real Estate Roundup: Long & Foster Opening New Office for Luxury Listings
Also: Home sales up in Montgomery County; contemporary Potomac home hits market for $1.8 million
Rendering of the Long & Foster and Christie's office planned for Woodmont Avenue in Bethesda
Long & Foster
Long & Foster and Christie’s International Real Estate are opening a new office in a downtown Bethesda luxury condominium building that will display their luxury home listings.
The two companies are renting a roughly 3,000-square-foot ground-floor space on the Woodmont Avenue side of The Darcy, the condominium building that opened last year with units ranging in price from $340,000 to $1.4 million.
Dottie Crago, vice president at Long & Foster Cos., said the companies hope to open the office in December. It will be home to the companies’ luxury property agents, such as the Heller Coley Reed group. It will also function as an art auction house.
“It’s an upscale kind of marketing venue, not just for luxury homes but for high-end art, which plays nicely into the real estate piece,” Crago said.
Long & Foster will maintain its existing downtown Bethesda offices at the Garden Plaza building on Old Georgetown Road.
Home Sales in County Hit Highest Monthly Total Since August 2005
According to real estate data companies RealEstate Business Intelligence and ShowingTime, 1,532 home sales closed in June in Montgomery County.
The number represents a 10 percent increase when compared to the total number of homes sold in June 2015 and is the highest monthly total recorded in the county since August 2005. The 3,051 active listings at the end of June were 382 fewer than at the end of June 2015, according to the report.
Half of the homes sold in June were on the market for 17 days or less, similar to June 2015’s numbers. The $435,000 median home sale price in June was 2.4 percent higher than the June 2015 median price of $425,000 and the highest June median price since 2008, when 955 homes were sold in the county for a median price of $450,000.
The average sales price in June of $546,394 was 3.3 percent higher than the June 2015 average of $529,011.
There was a 2.7 percent dip in June sales of townhomes in the county when compared to sales numbers for June 2015, while there were increases of 2 percent in sales of single-family detached homes and 4.9 percent for condos.
Contemporary Potomac Home with 2-Acre Wooded Lot Gets Relisted
This 6,450-square-foot home on the edge of Potomac near Bethesda’s Congressional Country Club was relisted this week at a price of $1,799,000 and features a wooded area and garden that spans 2 acres at the end of a quiet cul-de-sac.
Robert Jenets, an agent with Stuart & Maury Inc., has the listing of 9309 Inglewood Court. Jenets said Thursday one of the home’s current owners is an art appraiser, which prompted renovations to highlight a significant contemporary art collection.
“One of the very unique additions to the house is a huge family room with a half-barrel ceiling that’s very dramatic,” Jenets said.
Jenets said the home’s proximity to River Road and the country club makes it “function sort of like a Bethesda home,” rather than a home in Potomac that’s farther from the Beltway.
The home has four bedrooms and four bathrooms on a sloped site that allows for an exposed first level with access to the backyard. It offers a gym, spa, home office and media room, plus a master suite with two walk-in closets and a bathroom outfitted with limestone.
Photos via MRIS