Silver Spring Md. 20906 - Rental - Market Report July 2009

This market report details the rental activity in the Silver Spring Maryland 20906 zip code, excluding the senior citizens' community of Leisure World.  The report for that area can be read in a seperate blog.

The report period is for activity during the month of July 2009.   At the time of this report (7/30/2009), there are a total of 33 homes on the market for rent.  The rents of these homes range from $1,250 for a two-bedroom one bath condo to $3000 per month for a five-bedroom three bath detached home.  The average rent for these homes is $1,920.   While the longest has been on the market about five and a half months (161 days), the average time on the market is near one and a half month (40 days). 

Thirty homes have had applications to rent accepted or leases signed in the last month.  The average days on the market was just over three months (99 days).

Two Bedrooms

Nine of the 33 homes are two bedroom homes.  These range in rent from $1,250 to $1,700 per month, with the average being $1,427.  While two of the units were brought to the market in July the longest on the market is nearly four months (115 days), the average again being nearly a month and a half (48 days).  

A total of eight two-bedroom apartments were rented or applications to rent were taken during the month.  The rents on these apartments ranged from $1,350 to $1,450, with the average being $1,400.  While one was on the market for only three days, the average number of days these homes were on market was nearly two months (51 days).  The longest period was a near four months (118 days).

Three Bedrooms

Currently there are 11 three-bedroom rentals on the market for rent.   The listed rents for these homes ranged from $1,400 to $2,250, averaging $1,794 per month.  While seven of these 11 rentals are new to the market this month, the longest has been on the market for two and a half months (75 days), averaging near one month (28 days). 

Ten three-bedroom apartments were rented or applications to rent were taken during the month.  The rents on these apartments ranged from $1,399 to $1,995, with the average being $1,551.  While four were new to the market this month, the average number of days these homes were on market was nearly two months (42 days).  The longest period was a near three months (92days).

Four Bedrooms

There is also 11 four-bedroom home on the market for rent at this time.  The listed rents for these homes ranged from $1,950 to $3,000, averaging $2,344 per month.  While five of these 11 rentals are new to the market this month, the longest has been on the market for five and a half months (161 days), averaging near two months (53 days). 

Nine four-bedroom apartments were rented or applications to rent were taken during the month.  The rents on these apartments ranged from $1,650 to $2,895, with the average being $2,054.  While five were new to the market this month, the average number of days these homes were on market was nearly three months (51 days).  The longest period was a over four months (131 days).

Five Bedrooms

There only two five-bedroom homes on the market for rent in this market.  They are listed for $2,000 and $3,000 per month. These two homes are new to the market this month, being on the market for an average of less than a week (4 days).

Three five-bedroom apartments were rented or applications to rent were taken during the month.  The rents on these apartments ranged from $2,100 to $2,800, with the average being $2,567.  While only one was new to the market this month, the average number of days these homes were on market was nearly two months (64 days).  The longest period was two months (64 days).

If I or my team can help with your real estate needs here in Silver Spring, Md. 20906, please feel free to contact me by any of the following methods - my web page,  email, or (301) 237-2277.

Robert J. Force

Prudential Carruthers Realtors - Gaithersburg, Md.