Average Home Sizes and Asking Prices
Updated On: August 24, 2019
Asking Price in 20832 - 3 Bedroom Single Family Homes
Homes for Sale in Olney
Olney Real Estate & Homes for Sale in Olney
In its early days, the lovely Maryland community of Olney was known primarily as a quiet crossroads village and farming community. Once used by farmers to haul produce into town, the intersection of state routes 108 and 97 currently now forms Olney's modern business center.
Olney is located about 15 minutes from the Washington, D.C., Metro Area, in the upper northeast Montgomery County. More than 250 local businesses provide ample employment opportunities, though many residents have chosen to commute to work in Baltimore, Washington, D.C., or even northern Virginia.
Olney is home to more than 33,000 residents who enjoy lovely homes, peaceful small-town living and easy access to the many large urban attractions of Baltimore and Washington, D.C. Olney real estate options consist of single-family homes, estate properties, condominiums, townhouses and land lots.
Nearby Brookeville?which was also originally a farming community?is located just two miles north and currently has fewer than 150 residents, although both towns continue to grow rapidly and offer a wide selection of homes for sale and excellent educational, recreational and cultural opportunities. The nearby cozy historic towns of Brookeville and Laytonsville, home to approximately 300 residents, represent a lively combination of country living and the conveniences of urban life.
Olney Manor Park, Swim Center and Longwood Recreation Center in Brookeville are two of the area's finest recreational facilities. All three communities are served by the Montgomery County Public School system.
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Olney Real Estate Market: Prices of Olney Homes for Sale
Olney's real estate market is comprised of many listings for single-family detached homes for sale, as well as townhouses and condominiums. Williamsburg Village and Olney Mill are two attractive historic neighborhoods. Newer real estate developments in Olney include Hallowell Manor, Village Homes and Lake Hallowell and the Towns of Lake Hallowell.
Prices for 3- or 4-bedroom, single-family homes on large lots range from approximately $400,000 - $900,000. A limited number of townhouses and condominiums are available for sale from $140,000 to approximately $420,000. Some properties offer access to community facilities such as swimming pools. Laytonsville homes are priced from the upper $700,000s - $1.1 million+. Homes for sale in Brookeville start from the low $300,000s, though prices can exceed $3.5 million for large executive homes and exclusive estates for sale. Land lots are available for custom real estate development.
Olney Real Estate Stats and Trends for the week of August 23rd, 2019: homes priced around $500,036 compared to $506,470 the previous week, showing a decrease of less than -1%. For Friday, August 23rd, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.