OLNEY MD 20832 -  REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20832, you should take a close look at the following report that compares the statistics for the past month with the same month last year.  During the month, there were 105 active listings of homes for sale in Olney. There were 37 new listings in the area and 38 properties went to pending new contracts.  There were 14 settlements as compared to 30 homes sold last year.  The total sold dollar volume was down 54.86%. The median sales price was $406,250.  The average sales price was 93.46% of the average list price. The average days on the market was 122 as compared to 87 days last year. What does this mean?  It is still a soft market which favors buyers.  Buyers have the largest selection and the lowest prices that have been available for several years. First time buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009.  Many buyers are using FHA financing to take advantage of the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include the cost of home improvements up to $35,000 in the mortgage amount. The Montgomery County Housing Opportunities Commission is providing 100% financing for qualified first time buyers.   

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website:  www.roykelley.com

Email:  roykelley@mris.com;  Client Assistance:  301-670-8996

Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 20832 Olney, 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 0 0 1 -30 Days 4
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 4
$150,000 - 199,999 0 0 0 0 0 0 5 0 61 - 90 Days 0
$200,000 - 249,999 0 0 0 0 0 6 0 0 91-120 Days 0
$250,000 - 299,999 0 2 0 1 0 10 6 0 Over 120 Days 6
$300,000 - 349,999 0 2 0 0 0 11 0 0 Total 14
$350,000 - 399,999 0 1 0 0 0 7 0 0  
$400,000 - 449,999 0 3 2 0 0 8 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 15 0 0
$500,000 - 599,999 0 0 2 0 0 15 0 0 Conventional 9
$600,000 - 699,999 0 0 0 0 0 5 0 0 FHA 5
$700,000 - 799,999 0 0 1 0 0 5 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 6 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 2 0 0 Cash 0
$1,000,000 - 2,499,999 0 0 0 0 0 3 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 1 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 8 5 1 0 94 11 0 Total 14
Grand Totals 14 105    
    2009   2008   % Change
Total Sold Dollar Volume: $ 5,693,602 $ 12,612,700 - 54.86 %
Average Sold Price: $ 406,686 $ 420,423 - 3.27 %
Median Sold Price: $ 406,250 $ 407,500 - 0.31 %
Total Units Sold: 14 30 - 53.33 %
Average Days on Market: 122 87 40.23 %
Average List Price for Solds: $ 435,139 $ 449,589 - 3.21 %
Avg Sale Price as a
percentage of Avg List Price:		 93.46 % 93.51 %  
Total NEW listings: 37
Total Properties Marked Contract: 17
Total Properties Marked Contingent Contract: 21
Total NEW pendings (Contracts + Contingents): 38

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 (Click on Homes Prospector for access to all of the available homes listed on MRIS).

Blog:  http://activerain.com/blogs/roykelley  

Follow me on Twitter:  http://twitter.com/roykelley  

FIRST TIME HOME BUYER $8,000 TAX CREDIT:   www.federalhousingtaxcredit.com  

Newly increased FHA loan limits for Montgomery County and Frederick County:  $729,750.  New limit for FHA reverse mortgages:  $625,000.  

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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Roy Kelley, Montgomery County, MD Homes For Sale

Gaithersburg, MD

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Roy Kelley and RE/MAX Realty Group

Address: Roy Kelley, RE/MAX Realty Group, 6 Montgomery Village Avenue, Suite 200, Gaithersburg, MD, 20879

Office Phone: (301) 921-4569

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Roy Kelley advises home buyers, sellers and REO asset managers, in the Maryland suburbs of Washington DC and nearby counties. REO and foreclosures sales. Market area includes Montgomery County, Frederick County, Washington County and Prince George's County. Real Estate blogs


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