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Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Midvale Road Llc AUGUST 28, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
What is a CMA No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the comparative market analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data Uelds that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
2
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
BEDS
BATHS
Midvale Road, Kensington, Maryland 20895
-
-
S = CLOSED
A = ACTIVE
SQFT
PRICE
-
-
1
Subject
2
MDMC760634
S
11212 Upton Dr
4
3.0/1.0
2,128
$789,000
3
MDMC753276
S
11205 Upton Dr
5
4.0/0
2,069
$715,000
4
MDMC745800
S
2892 Findley Rd
3
2.0/2.0
2,014
$600,000
5
MDMC751402
S
11016 West Ave
6
2.0/2.0
1,748
$669,000
6
MDMC2011942
A
2883 Findley Rd
3
2.0/2.0
1,600
$579,900
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
3
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
11212 Upton Dr
7/15/21
4
3.0/1.0
2,128
$789,000
$371
11205 Upton Dr
7/12/21
5
4.0/0
2,069
$715,000
$346
2892 Findley Rd
6/7/21
3
2.0/2.0
2,014
$600,000
$298
11016 West Ave
6/25/21
6
2.0/2.0
1,748
$669,000
$383
1,989
$693,250
$349
Averages
A
ACTIVE LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
-
3
2.0/2.0
1,600
$579,900
$362
1,600
$579,900
$362
2883 Findley Rd
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
4
Listings
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
11212 Upton Dr $789,000 CLOSED
MLS #MDMC760634
Kensington, MD 20895
4 Beds 3.0/1.0 Baths Year Built 2004
7/15/21
2,128 Sq. Ft. ($371 / sqft) Days on market: 13
Details Prop Type: Single Family Residence
Half baths: 1.0 Acres: 0.16
Updated: Jul 19, 2021 12:48 PM
County: MONTGOMERY
Lot Size: 7,000
List Price: $789,900
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Subdivision: KENSINGTON VIEW
List date: 6/2/21
Orig list price: $789,900
High: ALBERT EINSTEIN
Off-market date: 7/19/21
Taxes: $6,879
Middle: NEWPORT MILL
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Living Area Source: Assessor
Structure Type: Detached
Above Grade Finished Area Units: Square Feet
Construction Materials: Vinyl Siding
Lot Size Source: Assessor
Tax Year: 2021
Lot Size Units: Square Feet
Accessibility Features: None
Cooling: Central A/C
Total Garage And Parking Spaces: 3
Basement: Fully Finished, Full, Connecting Stairway
Cooling Fuel: Electric
Parking Features: Paved Driveway
Direction Faces: North
Roof: Asbestos Shingle
Below Grade Finished Area: 800
Zoning: R60
Heating: Heat Pump(s)
Driveway Spaces: 3
Below Grade Finished Area Source: Assessor
Heating Fuel: Electric
Special Listing Conditions: Standard
Hot Water: Electric
Senior Community Yn: false
Levels: 3
Sewer: Public Sewer
Style: ["Colonial"]
Elementary: ROCK VIEW
Full baths: 3.0
Features Tax Lot: 23
Water Source: Public
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Remarks SLEEK & STYLISH KENSINGTON CONTEMPORARY! Super curb appeal level lot, adorable front porch and a turned hardwood staircase will have you at hello. Main level is awash with wood Voors, a neutral paint, light & bright open concept living/dining Voor plan. Well appointed kitchen with lots of super cool horizontal mounted two tone cabinetry, full marble tile backsplash, sporty stainless steel appliances with range hood, French doors to deck area & island with barstool spaces. Each bathroom is pristine, clean and has modern selections in cabinets, hardware & Uxtures. Spacious bedrooms with ceiling fans. Basement fully Unished, carpeted rec room with recessed lighting, guest & den space with French doors, & additional built in cabinet spaces. New owner will be able to move right in and enjoy summer BBQs in the idyllic fully fenced backyard with deck! Driveway with ample off street parking. Close to Giant, Target, Macy's - many shops, antique row & restaurants. Quiet street UPSCALE community "WALK SCORE 86". METRO 4 Blocks.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
11212 Upton Dr
Midvale Road, Kensington, Maryland 20895
$789,000 CLOSED
MLS #MDMC760634
Kensington, MD 20895
7/15/21
4 Beds 3.0/1.0 Baths Year Built 2004
2,128 Sq. Ft. ($371 / sqft) Days on market: 13
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
11205 Upton Dr $715,000 CLOSED
MLS #MDMC753276
Kensington, MD 20895
5 Beds 4.0/0 Baths Year Built 1939
7/12/21
2,069 Sq. Ft. ($346 / sqft) Days on market: 28
Details Prop Type: Single Family Residence
Full baths: 4.0 Acres: 0.16
Updated: Jul 12, 2021 2:46 PM
County: MONTGOMERY
Lot Size: 7,029
List Price: $725,000
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Subdivision: KENSINGTON VIEW
List date: 4/17/21
Orig list price: $740,000
High: ALBERT EINSTEIN
Off-market date: 7/12/21
Taxes: $4,048
Middle: NEWPORT MILL
Above Grade Finished Area Source: Estimated
Construction Materials: Vinyl Siding
Pets Allowed: No Pet Restrictions
Above Grade Finished Area Units: Square Feet
Cooling: Central A/C, Zoned
Interior Features: Kitchen Gourmet, Combination Kitchen/Dining
Cooling Fuel: Electric
Laundry Type: Main Floor
Roof: Shingle
Accessibility Features: None
Fencing: Fully
Levels: 2
Flooring: Hardwood, Ceramic Tile, Partially Carpeted
Living Area Source: Estimated
Room Type: Living Room, Dining Room, Kitchen, Family Room, Laundry
Heating: 90% Forced Air, Central
Lot Size Source: Assessor
Heating Fuel: Electric
Main Level Bedrooms: 2
Hot Water: Electric
Patio And Porch Features: Balcony
Style: ["Colonial"]
Elementary: ROCK VIEW
Features
Appliances: Oven - Wall, Dishwasher, Disposal, Refrigerator, Icemaker Below Grade Finished Area Source: Assessor Below Grade Finished Area Units: Square Feet
Lot Size Units: Square Feet
Property Condition: Excellent
Special Listing Conditions: Standard Security Features: Main Entrance Lock Senior Community Yn: false Sewer: Public Sewer
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
Structure Type: Detached
Midvale Road, Kensington, Maryland 20895
Tax Lot: 2
Total Garage And Parking Spaces: 2
Tax Year: 2021
Water Source: Public
Window Features: Double Pane, ENERGY STAR QualiUed
Driveway Spaces: 2
Zoning: R60
Remarks Welcome to 11205 Upton Dr, a substantially expanded and fully renovated Cape Cod with a coveted front porch, incredible fully fenced rear yard and Uve bedrooms. The main level features a welcome front porch open kitchen, dining and living room, a chef-grade kitchen with stainless steel appliances, eat-in island, custom cabinets and tile backsplash, a separate family room with custom built-ins, and a den/oWce (or 5th full bedroom) with custom built-ins. The upper level features three full bedrooms and two full baths including a primary suite with dual-vanity spa bath and walk-in closet. Laundryroom/ mud-room. The exterior of the home boasts fully fenced rear yard with extensive landscaping and Driveway and offstreet parking! Engineering Voors throughout main and upper level, custom window treatments and dual central heat + AC. All of this walking distance to Wheaton metro, parks, trails, shopping and more. Easy commuting access!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
11205 Upton Dr
Midvale Road, Kensington, Maryland 20895
$715,000 CLOSED
MLS #MDMC753276
Kensington, MD 20895
7/12/21
5 Beds 4.0/0 Baths Year Built 1939
2,069 Sq. Ft. ($346 / sqft) Days on market: 28
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
2892 Findley Rd $600,000 CLOSED
MLS #MDMC745800
Kensington, MD 20895
3 Beds 2.0/2.0 Baths Year Built 2016
6/7/21
2,014 Sq. Ft. ($298 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 2.0
List date: 5/12/21
Orig list price: $565,000
Half baths: 2.0
Off-market date: 6/30/21
Assoc Fee: $440
County: MONTGOMERY
Acres: 0.03 Lot Size: 1,224
Updated: Jul 8, 2021 6:05 AM
Taxes: $6,249
Subdivision: KENSINGTON HEIGHTS
Garages: 2
List Price: $565,000
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Association Fee Includes: Lawn Care Front, Lawn Care Rear, Lawn Care Side, Lawn Maintenance, Management, Snow Removal
Cooling: Programmable Thermostat, Heat Pump(s), Central A/C
Laundry Type: Dryer In Unit, Washer In Unit, Upper Floor, Has Laundry
Cooling Fuel: Electric
Levels: 3
Exterior Features: Play Area, Play Equipment
Living Area Source: Estimated
Flooring: Hardwood, Carpet
Lot Size Source: Assessor
Green Energy ECcient: Appliances, Construction, HVAC, Lighting
Lot Size Units: Square Feet
Heating: Central Heating Fuel: Natural Gas
Patio And Porch Features: Balcony, Deck(s)
Hot Water: Electric
Property Condition: Excellent
Style: ["Traditional"]
Features Above Grade Finished Area Source: Estimated Above Grade Finished Area Units: Square Feet Accessibility Features: None Association Amenities: Common Grounds, Tot Lots/ Playground Association Fee Frequency: Quarterly
Basement: Full, Fully Finished Below Grade Finished Area Source: Estimated Below Grade Finished Area Units: Square Feet Construction Materials: Brick, Vinyl Siding
# Of Attached Garage Spaces: 2
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Special Listing Conditions: Standard
Structure Type: End of Row/ Townhouse
Total Garage And Parking Spaces: 3
Senior Community Yn: false
Tax Lot: 23
Water Source: Public
Sewer: Public Sewer
Tax Year: 2021
Window Features: Vinyl Clad
Zoning: RT8.0 Driveway Spaces: 1
Remarks Welcome home to this beautiful and bright end-unit, like new townhome in sought after Kensington Overlook! Built by K. Hovnanian Homes in a lovely niche community on a premium interior cul-de sac lot (not on main road) with neighborhood park/playground in front! Large open kitchen includes dining area with breakfast bar, tons of cabinets, pantry, stainless steel appliances, and granite counters. The deck off the kitchen, large family room, half bath, and open Voor plan makes the main level excellent for entertaining family and friends. Large master suite has en-suite dual vanity bath with large upgraded tiled shower with bench and spacious walk-in closet. The 2nd and 3rd bedrooms upstairs can Ut queen size beds comfortably. Full bath and full size washer/dryer upstairs in hallway laundry. First level has bedroom/oWce with half bath. Two car garage has wall organizers and storage closet and you can Ut one car in the driveway. Open guest parking spots nearby and others throughout the community provide ample parking for visitors. Steps to metro, bus routes, retail and restaurants! Being near major highways/roads makes this community easily accessible for work and play. With tons of builder upgrades throughout, this lovingly cared for and meticulously maintained spacious townhome is move-in ready. This home has it all!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
2892 Findley Rd
Midvale Road, Kensington, Maryland 20895
$600,000 CLOSED
MLS #MDMC745800
Kensington, MD 20895
6/7/21
3 Beds 2.0/2.0 Baths Year Built 2016
2,014 Sq. Ft. ($298 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
14
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
11016 West Ave $669,000 CLOSED
MLS #MDMC751402
Kensington, MD 20895
6 Beds 2.0/2.0 Baths Year Built 1981
6/25/21
1,748 Sq. Ft. ($383 / sqft) Days on market: 22
Details Prop Type: Single Family Residence
Full baths: 2.0
List date: 5/7/21
Orig list price: $695,000
Half baths: 2.0
Off-market date: 6/25/21
Taxes: $6,201
County: MONTGOMERY
Acres: 0.37
Subdivision: KENSINGTON HEIGHTS
Lot Size: 16,020
Updated: Jun 25, 2021 10:23 AM
Garages: 1
List Price: $669,000
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Source: Assessor
Heating Fuel: Electric
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Laundry Type: Washer In Unit, Dryer In Unit
Senior Community Yn: false
Accessibility Features: Other
Construction Materials: Other
Levels: 3
Structure Type: Detached
Living Area Source: Assessor
Tax Lot: 11
Lot Size Source: Assessor
Total Garage And Parking Spaces: 1
Style: ["Colonial"]
Features
Appliances: Stove, Cooktop, Oven - Wall, Microwave, Refrigerator, Dishwasher, Disposal, Washer, Dryer
Cooling: Central A/C, Ceiling Fan(s) Cooling Fuel: Electric
Basement: Other
Fireplace Features: Screen
Below Grade Finished Area: 660
Fireplaces Total: 1 Heating: Heat Pump(s)
Hot Water: Electric
Lot Size Units: Square Feet # Of Attached Garage Spaces: 1
Special Listing Conditions: Standard Sewer: Public Sewer
Tax Year: 2021
Water Source: Public Zoning: R60
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Remarks This gorgeous updated 6 bedroom 2/2 bathroom home is a commuter's dream! 1.5 miles to Metro or Kensington's Antique Row! Just minutes and walking distance to the Wheaton Metro Station, shopping restaurants, parks, trails, Brookside Gardens, Rt. 495. Centrally located yet in a parklike setting. Easy commute to Downtown Bethesda, Silver Spring and Washington DC.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Comparative Market Analysis
11016 West Ave
Midvale Road, Kensington, Maryland 20895
$669,000 CLOSED
MLS #MDMC751402
Kensington, MD 20895
6/25/21
6 Beds 2.0/2.0 Baths Year Built 1981
1,748 Sq. Ft. ($383 / sqft) Days on market: 22
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
17
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
2883 Findley Rd $579,900 ACTIVE
MLS #MDMC2011942
Kensington, MD 20895
3 Beds 2.0/2.0 Baths Year Built 2018
8/25/21
1,600 Sq. Ft. ($362 / sqft) Days on market: 4
Details Prop Type: Single Family Residence
Full baths: 2.0
List date: 8/25/21
Assoc Fee: $440
Half baths: 2.0 Acres: 0.03
Updated: Aug 28, 2021 4:30 AM
Taxes: $5,650
County: MONTGOMERY
Lot Size: 1,177
List Price: $579,900
Garages: 2
Orig list price: $579,900
Basement: Front Entrance, Rear Entrance, Walkout Stairs
Cooling: Central A/C, Programmable Thermostat
Below Grade Finished Area: 400
Door Features: Insulated, Sliding Glass
Below Grade Finished Area Source: Assessor
Exterior Features: Play Area, Sidewalks
Below Grade Finished Area Units: Square Feet
Fireplaces Total: 1
Subdivision: KENSINGTON OVERLOOK Style: ["Traditional"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features Above Grade Finished Area Source: Assessor Above Grade Finished Area Units: Square Feet Accessibility Features: None Appliances: Cooktop, Dishwasher, Disposal, Exhaust Fan, Icemaker, Microwave, Oven - Wall, Range Hood, Refrigerator, Washer/Dryer Hookups Only Association Fee Frequency: Quarterly
Construction Materials: Brick, Combination, Frame, Stone, Vinyl Siding
Cooling Fuel: Electric
Heating: Energy Star Heating System, Programmable Thermostat Heating Fuel: Natural Gas
Interior Features: Breakfast Area, Crown Moldings, Family Room Off Kitchen, Kitchen - Eat-In, Kitchen Gourmet, Kitchen - Island, Primary Bath(s), Upgraded Countertops, Wood Floors Levels: 3 Living Area Source: Assessor Lot Features: Cleared, Landscaping, No Thru Street Lot Size Source: Assessor
Hot Water: Electric
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
18
Comparative Market Analysis
Lot Size Units: Square Feet # Of Attached Garage Spaces: 2
Midvale Road, Kensington, Maryland 20895
Special Listing Conditions: Standard
Patio And Porch Features: Deck(s)
Security Features: Carbon Monoxide Detector(s), Fire Detection System, Main Entrance Lock, Smoke Detector, Sprinkler System Indoor
Roof: Shingle
Senior Community Yn: false
Parking Features: Concrete Driveway
Sewer: Public Sewer
Window Features: Low-E
Structure Type: Interior Row/ Townhouse
Zoning: R
Tax Year: 2020 Total Garage And Parking Spaces: 2 Virtual Tour: View Water Source: Public
Remarks LUXURY LIVING ON THE RED LINE - This rare townhome in Kensington features superb walkability and numerous interior upgrades. Located next to the Wheaton Mall, its just a short walk to the Wheaton Metro Station and many nearby stores including Giant, Starbucks, and Target. This home boasts a 2-car garage and a second-Voor deck overlooking a forested conservation area. The kitchen is a chefs dream with wood shaker cabinets, granite counters, stainless appliances (including a double oven), a walk-in pantry, and a large island. Smart home features include a Ring doorbell and security camera, Nest thermostat, and wiU enabled washer/dryer. There are hardwood Voors throughout the home and carpet in the bedrooms. Floorplan highlights include a home oWce with built-in shelving, a gas Ureplace in the family room, a Unished laundry room located on the bedroom level, and powder rooms on the Urst 2 levels. The main bedroom features a tray ceiling, walk-in closet, electric Ureplace, and an en suite spa bathroom with a large soaker tub. Constructed only 3 years ago, the high-quality insulation and windows ensure energy eWciency and eliminate exterior noise. No other townhomes will beat the combined luxury and location offered by this home. Schedule a private tour today!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
2883 Findley Rd
Midvale Road, Kensington, Maryland 20895
$579,900 ACTIVE
MLS #MDMC2011942
Kensington, MD 20895
8/25/21
3 Beds 2.0/2.0 Baths Year Built 2018
1,600 Sq. Ft. ($362 / sqft) Days on market: 4
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
20
Analysis
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Comparable Property Statistics S
4 Sold Listings LOWEST
$600,000
A
AVERAGE
$693,250
HIGH
$789,000
AVG PRICE / SQFT
AVG DOM
$349
17
AVG PRICE / SQFT
AVG DOM
$362
4
1 Active Listings LOWEST
$579,900
AVERAGE
$579,900
HIGH
$579,900
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
22
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
Sold Property Analysis Averages
100.9%
Homes sold for an average of 100.9% of their list price.
17
Days on market
It took an average of 17 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
11212 Upton Dr
$789,900
$789,000
99.89%
13
$371
11205 Upton Dr
$740,000
$715,000
96.62%
28
$346
2892 Findley Rd
$565,000
$600,000
106.19%
6
$298
11016 West Ave
$695,000
$669,000
96.26%
22
$383
$697,475
$693,250
99.39%
17
$349
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
23
Comparative Market Analysis
Midvale Road, Kensington, Maryland 20895
The Value of Your Home In a neighborhood of similar homes, why is one worth more than another? That's the question that's teased buyers and sellers for ages, but the answer is simple. Every home is different When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price. That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:
Location The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is.
Size Square footage impacts home value because a larger home is built using more materials, and gives the homeowner more usable space. And a larger lot size could mean more privacy than a smaller one.
Number of bedrooms and baths Additional bedrooms and bathrooms raise the value of a home compared to similar homes that do not have those rooms.
Features and >nishes Features such as outdoor kitchens and spa baths make a home more luxurious. A home Unished with hardwood Voors and granite countertops is going to cost more than a home with carpet and laminate countertops.
Condition The closer a home is to new construction, the more it will retain its value. It's perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less as purchasers' factor in the cost of updating and eventually replacing appliances and systems.
Curb appeal From the street, the home looks clean, fresh, and inviting. Fresh landscaping and Vowers won't change the size or location, but they certainly add charm. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
24