In this article you will find what has been going on in the Montgomery County MD real estate market in the town of Olney MD. Here is a quick snapshot of what has occured from October 26th 2007 to November 26th 2007 the Montgomery County real estate in the City of Olney. According to the MRIS in Olney there are currently 29 active listings ranging in price from $217,000 on the low end to $799,900 on the top end. If you are thinking of selling your home in Olney Marylad another interesting fact to know is that this month 4 homes went under contract ranging in price from $373,300 to $491,000.
How the Town of Olney got its name?
When Olney was originally established in 1800 the city was composed of mostly farmland. Soon this farming city began to attract new settlers who were artisans, and this is how the town got the name of Olney. Two of these early settlers were Sarah Brooke and Dr. Charles Farquhar; fans of the English poet William Cowper they decided to name their home after his hometown. Then this town adopted the Sarah Brook’s and Dr. Farquhar’s home as the name for their town. One very interesting historical fact about the town of Olney is that in 1814, after the siege of Washington by the British during the War of 1812, President Madison took his family through Olney while en route to take shelter in the town of Brookeville.
The Town's Population and Growth
This town did not spring up over night; rather it took many years to grow into what we know it as today. In the 1960s there were roughly only 1,000 residences that called this place home. Over the next four decades, with many people working in the District of Columbia and in the high tech industries around Rockville, people began to look towards this quaint town for properties. The former farmlands were redeveloped into large-scale residential developments and became a mix of single family and town homes. The biggest development of this city began in the 1960s and 70s with the construction of Williamsburg Village, Tanterra, Olney Mill, and Highland of Olney. The building boom continued through the 1980s with the construction of Norbeck Hills, Hallowell, Briars Acres, Olney Oaks, and finally ended in the 1990s and 2000s with the development of Lake Howell, James Creek, Barnsley Manor Estates and Norbeck Grove. With such expansive development the town had to also increase the number of schools to make room for the new residences. The town at the time renovated most of its current schools and constructed several new ones to accommodate the growing population. It only took 30 years for this town to transform itself.
