GAITHERSBURG, MD 20878, KENTLANDS, LAKELANDS, NORTH POTOMAC ZIP CODE STATISTICS
Since we live in Kentlands and do a lot of business in zip code 20878, the real estate statistics in this area have a high level of personal interest. There were 290 home listed for sale on MRIS during the past month. 106 new listings were added to the inventory and 78 properties went to pending contracts. Only 35 went to settlement during the month as compared with 56 settlements during the same month last year. The sold dollar volume was down 47.70% from last year. The average sold price was $432,454 and the median sold price was $390,000, down 19.25% from last year. The average days on the market was 119 as compared to 98 last year. The average sale price was 90.21% of the average list price. Home sellers are receiving less than they expected. The situation is fine for those that are moving up in price range since the more expensive homes are selling at even greater discounts from the previous very hot market. What is our advice? It is not a good time to test the market to see how much you can get. If you need to sell, you have no choice. However, if you planning to downsize or move to a lower cost area, you will probably be working with less equity than you would have received any time since 2005. Roy Kelley, Associate Broker, RE/MAX Realty Group
Home Search Website (Homes Prospector): www.roykelley.com
Email: roykelley@mris.com; Client Assistance: 301-670-8996
Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator
ZIP Code: 20878 Gaithersburg, MD
From: 04/01/2009 to 04/30/2009 Statistics generated on: 05/06/2009
| |
Residential
Unit Sales
Number of Bedrooms |
Active Listings |
|
Time on Market |
| Price Class |
2
Or Less |
3 |
4
or More |
Condo
Coop |
Ground
Rent |
Residential |
Condo
Coop |
Ground
Rent |
of Units Sold
(No. of Units) |
| Under $100,000 |
0 |
0 |
0 |
0 |
0 |
0 |
5 |
0 |
1 -30 Days |
8 |
| $100,000 - 149,999 |
0 |
0 |
0 |
0 |
0 |
2 |
14 |
0 |
31-60 Days |
7 |
| $150,000 - 199,999 |
0 |
0 |
0 |
2 |
0 |
5 |
14 |
0 |
61 - 90 Days |
1 |
| $200,000 - 249,999 |
0 |
3 |
0 |
1 |
0 |
6 |
8 |
0 |
91-120 Days |
4 |
| $250,000 - 299,999 |
0 |
1 |
1 |
1 |
0 |
25 |
11 |
0 |
Over 120 Days |
15 |
| $300,000 - 349,999 |
0 |
2 |
0 |
3 |
0 |
9 |
10 |
0 |
Total |
35 |
| $350,000 - 399,999 |
0 |
2 |
1 |
1 |
0 |
15 |
7 |
0 |
|
| $400,000 - 449,999 |
0 |
1 |
1 |
0 |
0 |
11 |
5 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
1 |
2 |
0 |
0 |
24 |
1 |
0 |
| $500,000 - 599,999 |
0 |
1 |
4 |
0 |
0 |
38 |
1 |
0 |
Conventional |
17 |
| $600,000 - 699,999 |
0 |
0 |
2 |
0 |
0 |
25 |
0 |
0 |
FHA |
14 |
| $700,000 - 799,999 |
0 |
1 |
4 |
0 |
0 |
12 |
0 |
0 |
VA |
0 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
13 |
0 |
0 |
Assumption |
1 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
8 |
0 |
0 |
Cash |
3 |
| $1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
21 |
0 |
0 |
Owner Finance |
0 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
All Other |
0 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
0 |
12 |
15 |
8 |
0 |
214 |
76 |
0 |
Total |
35 |
| Grand Totals |
35 |
290 |
|
|
| |
2009 |
2008 |
% Change |
| Total Sold Dollar Volume: |
$ 15,135,900 |
$ 28,938,000 |
- 47.70 % |
| Average Sold Price: |
$ 432,454 |
$ 516,750 |
- 16.31 % |
| Median Sold Price: |
$ 390,000 |
$ 483,000 |
- 19.25 % |
| Total Units Sold: |
35 |
56 |
- 37.50 % |
| Average Days on Market: |
119 |
98 |
21.43 % |
| Average List Price for Solds: |
$ 479,369 |
$ 559,124 |
- 14.26 % |
Avg Sale Price as a
percentage of Avg List Price: |
90.21 % |
92.42 % |
|
|
| Total NEW listings: |
106 |
| Total Properties Marked Contract: |
25 |
| Total Properties Marked Contingent Contract: |
53 |
| Total NEW pendings (Contracts + Contingents): |
78 |
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market.
Your Real Estate Professional,
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200 Gaithersburg, MD 20879 USA
Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Main Office: 301-258-7757 x 569 Home
Search Website: www.roykelley.com Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC.
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
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