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Gomes N Sarker Properties LLC, 1322 Xaveria Drive, Silver Spring, MD (2026)

09/23/2024

Maryland Housing Market Update: August 2024

The Maryland housing market has seen some significant changes in August 2024, according to the latest figures from the Maryland REALTORS®’ August 2024 Housing Statistics. Sales have slowed compared to last year, while prices have continued to climb, reflecting the ongoing trends in the real estate market.

In August 2024, home sales in Maryland fell by 5.9%, with 6,169 units sold compared to 6,559 units in 2023. Despite the drop in sales, the average sales price increased by 4.4%, reaching $499,050, while the median sales price rose by 2.4%, hitting $415,800 year-over-year.

Although fewer homes were sold, the number of pending sales (houses under contract) continued to rise, with a 6.3% increase to 6,318 compared to August of last year. The market also saw an increase in months of inventory, now at two months, and an uptick in days on the market, which grew from 8 days in 2023 to 10 days in August 2024.

According to Chris Hill, President of Maryland REALTORS®, interest rates are coming down, which is good news for prospective buyers. “As of September 19, the 30-year fixed mortgage rate dropped to 6.09%, which is great. With the Federal Reserve recently cutting interest rates by half a percentage point, we expect to see more buyers entering the market. The increase in days on market also suggests that sellers may be more open to negotiating on price.”

Hill also highlighted the changes in residential real estate following the National Association of REALTORS® (NAR) Settlement in the Burnett v. NAR case. In response, REALTORS® in Maryland are focusing on transparency in transactions. “Maryland law has required written buyer agreements since 2016, so we’re well ahead in making the process clearer. By being transparent, we ensure that consumers have a better understanding of the value REALTORS® bring to the table.”

Hill encouraged those thinking about buying or selling a home to visit the recently updated MarylandHomeownership.com. The site now features new blogs, toolkits, and other resources designed to make the process of homeownership smoother and more rewarding for everyone.

For more information and assistance, please contact Prokash Gomes, Realtor and Notary Public.

09/02/2024

Happy Labor Day, everyone!

Today is a day to celebrate all the hard work and dedication that goes into making our lives and communities better. Whether you’re spending time with family and friends, enjoying a barbecue, or simply relaxing, I hope your day is filled with joy and laughter.

Wishing you and your loved ones a safe and memorable Labor Day! Let’s take this time to appreciate the freedom we cherish and the efforts that make it all possible.

Warm regards,
Prokash Gomes
Realtor & Notary Public

07/04/2024

🇺🇸🎆 Happy 4th of July! 🎆🇺🇸

On this Fourth of July, let us celebrate the profound American values of democracy, equality, and boundless opportunities.

Celebrate the independence of our great Nation and enjoy freedom by doing all the things you love! Wishing you and your family a safe and memorable Independence Day filled with pride, honor, and lots of fun!

Enjoy the day with your loved ones, and let's cherish the freedom we have.

Happy Independence Day!

Prokash Gomes, Realtor and Notary Public

04/10/2024

Eid Mubarak to all! 🌙✨ Sending my heartfelt Eid wishes to the entire Muslim community, friends, and relatives. May the blessings of the divine shower abundant joy, peace, hope, and prosperity upon you and your family. Wishing you a blessed and joyful celebration! - Prokash Gomes, Realtor, and Notary Public.

03/26/2024

As an immigrant from Bangladesh who proudly calls America home, I extend my heartfelt congratulations and warm greetings to my fellow Bangladeshi citizens on this momentous occasion of Independence Day!
🇧🇩 Wishing you all the best as we honor the courage and strength that paved the way for our nation's freedom.
May the spirit of patriotism that binds us together continue to inspire and unite us across borders.
🎉🇧🇩 🇧🇩🎉

03/14/2024

🏡✨ 🏠🎉 Fantastic Update for Homebuyers: Interest Rates Drop Once More This Year! 🎉🏠✨🏡

Attention all aspiring homeowners! Recent data from CNN Business reveals that mortgage interest rates have dropped significantly, creating a prime opportunity for you to make your dream of homeownership a reality.

Lower rates mean greater affordability and increased purchasing power. Whether you're a first-time buyer, upgrading, or investing, now is the time to act.

As a Realtor, I'm here to guide you through the process and help you seize these favorable conditions. Don't miss out on the chance to secure your dream home at a more accessible rate.

While rates are expected to fluctuate in the coming months, homebuyers can still benefit from improved affordability. With rates down from 7.79% to 6.74% over the past four months, monthly payments have significantly decreased.

Get in touch with me today to explore your options and take the first step towards homeownership. Let's work together to turn your dream into reality!
https://amp.cnn.com/cnn/2024/03/14/business/mortgage-interest-rates-tumble-inflation/index.html

🏡

03/14/2024

🏡 New listings available in 20903 Oakview or Hillandale, Silver Spring, Maryland! Looking to make your dream home a reality? Contact me for a stress-free and smooth home buying process. Let's find your perfect property together! Contact me (240) 437-7156.
🌟

10/23/2023

Monthly Market Highlights - September 2023
🏠 Understanding the September 2023 Real Estate Market
Existing-home sales fallen by 2.0% in September to a seasonally adjusted annual rate of 3.96 million. Sales dropped by 15.4% compared to the same period last year.
📈 Continued Price Growth
- The median existing-home sales price increased by 2.8% from the previous year, reaching $394,300. This marks the third consecutive month of year-over-year price increases.
🏡 Inventory Insights
- The inventory of unsold existing homes saw a 2.7% increase from the previous month, totaling 1.13 million units at the end of September. This equates to a 3.4 months' supply at the current monthly sales pace.
📊 Regional Variations
- Sales rose in the Northeast but decreased in the Midwest, South, and West. All four regions reported year-over-year sales declines.
📉 Housing Affordability Challenges
- Low inventory and housing affordability continue to impact home sales. Rising interest rates and inflation are additional factors affecting the market.
💡 Market Analysis
- "Limited inventory and low housing affordability continue to hamper home sales," says NAR Chief Economist Lawrence Yun. "The Federal Reserve simply cannot keep raising interest rates in light of softening inflation and weakening job gains."
🌆 Market Outlook
Home prices have risen for three consecutive months, underscoring the need for increased housing supply.*For more details, you can refer to the EHS Housing Snapshot Infographic for September 2023.*
🔍 What to Watch
- The REALTORS® Confidence Index reveals that properties typically remained on the market for 21 days in September, with 69% of homes selling in under a month.
- First-time buyers accounted for 27% of sales, while all-cash sales represented 29% of transactions.
📉 Mortgage Rates
- According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.57% as of October 12, reflecting a notable increase from the previous year.

🏡 Sales by Type
- Single-family home sales declined by 1.9% in September, with the median existing single-family home price at $399,200.
- Existing condominium and co-op sales decreased by 2.3% with a median price of $353,800.
🌍 Regional Insights
- The Northeast saw a 4.2% increase in existing-home sales.
- The Midwest, South, and West reported sales declines.
📈 *Price Gains*
- The Northeast experienced the strongest price gain, up 5.2% from the previous year.
- The West saw softer price growth.

The real estate market continues to be influenced by various factors, making it essential to stay informed about the latest developments. For localized information, consider contacting your local association of REALTORS® for data from local multiple listing services.

Your trusted source for real estate insights,
Prokash Gomes, Realtor, Smart Realty
https://www.nar.realtor/newsroom/existing-home-sales-fell-2-0-in-september

10/18/2023

Welcome to Gomes N Sarker Properties LLC: Pioneering Property Investment in Maryland, USA

Established in 2019, Gomes N Sarker Properties LLC stands as a beacon of innovation and commitment to building a brighter future in the real estate sector. Nestled in the heart of Maryland, USA, we are a family-run property management and investment company, driven by a singular vision - "Investing Today for a Comfortable Tomorrow."
Meet Our Managing Partner - Prokash Gomes
At the helm of our operations is our dedicated Managing Partner, Prokash Gomes, who brings a wealth of experience and passion to the world of property investment. With Prokash's visionary leadership, we have embarked on a journey to reshape the landscape of property investment, one comfortable tomorrow at a time.
Our Current Portfolio
As of today, Gomes N Sarker Properties proudly owns and manages two distinguished properties in Maryland, representing not just bricks and mortar but a testament to our unwavering commitment to excellence and value. With a million-dollar investment already at play, we are poised for significant growth and expansion.

The Path Ahead: Seeking Like-Minded Investors
Gomes N Sarker Properties LLC is on the lookout for investors who share our vision of 'Investing Today for a Comfortable Tomorrow.' We invite you to join us on this exciting journey, where your investments will not only yield promising returns but contribute to the creation of comfortable, thriving communities.

As we step forward into the future, we remain dedicated to upholding the highest standards of integrity, commitment, and innovation. We invite you to explore the opportunities and possibilities that our investment journey promises.

Together, let's shape a more comfortable tomorrow - for you, for us, and for all those who call Maryland home.

For inquiries or investment opportunities, please contact us at [Your Contact Information].

Gomes N Sarker Properties LLC - Investing in Your Comfortable Tomorrow.

Gomes N Sarker Properties LLC

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