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 289 homes listed for sale on MRIS during the past month. 103 new listings were added to the inventory and 73 properties went to pending contracts. 73 went to settlement during the month as compared with 55 settlements during the same month last year. The sold dollar volume was up 22.99% from last year. The average sold price was $485,998 and the median sold price was $480,000, up 3.23% from last year. The average days on the market was 75 as compared to 85 last year. The average sale price was 94.55% of the average list price. Home sellers are receiving less than they expected. It is a wonderful market for first time home buyers. 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. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 20878 Gaithersburg, MD
From: 06/01/2009 to 06/30/2009 Statistics generated on: 07/08/2009
| |
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 |
9 |
0 |
1 -30 Days |
37 |
| $100,000 - 149,999 |
0 |
0 |
0 |
2 |
0 |
2 |
16 |
0 |
31-60 Days |
9 |
| $150,000 - 199,999 |
0 |
1 |
0 |
2 |
0 |
3 |
6 |
0 |
61 - 90 Days |
12 |
| $200,000 - 249,999 |
0 |
2 |
0 |
1 |
0 |
9 |
6 |
0 |
91-120 Days |
3 |
| $250,000 - 299,999 |
0 |
3 |
1 |
2 |
0 |
19 |
13 |
0 |
Over 120 Days |
12 |
| $300,000 - 349,999 |
2 |
3 |
1 |
1 |
0 |
14 |
10 |
0 |
Total |
73 |
| $350,000 - 399,999 |
0 |
0 |
2 |
1 |
0 |
14 |
12 |
0 |
|
| $400,000 - 449,999 |
0 |
6 |
1 |
0 |
0 |
12 |
8 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
5 |
5 |
0 |
0 |
23 |
2 |
0 |
| $500,000 - 599,999 |
0 |
5 |
9 |
0 |
0 |
45 |
1 |
0 |
Conventional |
41 |
| $600,000 - 699,999 |
0 |
0 |
7 |
0 |
0 |
16 |
1 |
0 |
FHA |
17 |
| $700,000 - 799,999 |
0 |
0 |
6 |
0 |
0 |
9 |
0 |
0 |
VA |
4 |
| $800,000 - 899,999 |
0 |
0 |
2 |
0 |
0 |
11 |
0 |
0 |
Assumption |
2 |
| $900,000 - 999,999 |
0 |
0 |
2 |
0 |
0 |
11 |
0 |
0 |
Cash |
9 |
| $1,000,000 - 2,499,999 |
0 |
0 |
1 |
0 |
0 |
17 |
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 |
2 |
25 |
37 |
9 |
0 |
205 |
84 |
0 |
Total |
73 |
| Grand Totals |
73 |
289 |
|
|
| |
2009 |
2008 |
% Change |
| Total Sold Dollar Volume: |
$ 35,477,887 |
$ 28,846,415 |
22.99 % |
| Average Sold Price: |
$ 485,998 |
$ 524,480 |
- 7.34 % |
| Median Sold Price: |
$ 480,000 |
$ 465,000 |
3.23 % |
| Total Units Sold: |
73 |
55 |
32.73 % |
| Average Days on Market: |
75 |
85 |
- 11.76 % |
| Average List Price for Solds: |
$ 514,013 |
$ 558,001 |
- 7.88 % |
Avg Sale Price as a
percentage of Avg List Price: |
94.55 % |
93.99 % |
|
|
| Total NEW listings: |
103 |
| Total Properties Marked Contract: |
32 |
| Total Properties Marked Contingent Contract: |
41 |
| Total NEW pendings (Contracts + Contingents): |
73 |
|
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 Visit Homes Prospector to view all available listings on MRIS.
Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley Links to our posts appear on Twitter and Facebook.
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC and nearby counties.
Your Real Estate Professional in Maryland,
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Ave., Suite 200
Gaithersburg, MD 20879
Client Assistance: 301-670-8996
Direct: 301-921-4569
Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Email: roykelley@mris.com Home Search Website: www.roykelley.com
Follow me on Twitter: http://twitter.com/roykelley
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
;)
;)
Thank you very much in sharing your local updates. I love learning about real estate markets in other parts of the country.