Silver Sping, Md. 20906 - Montgomery Chase July 2009 - Market Report

This is a market report for the Montgomery Chase community of Silver Spring, Md. 20906.  At the time of this report (8/8/2009) there are three townhouses in this subdivision on the market for sale.  The list price of these homes range from $119,900 for a two-bedroom one bath home to $200,000 for a three-bedroom two full bath one half bath townhouse.  The average list price being #206,300.  The days on market with the current realtor range from just over two weeks (16 days) to near nine months (262 days), with the average being a little over four months (133 days).

Currently there are two townhouses under contract in this community.  The last know list prices where $164,900 for a two-bedroom and $172,000 for a three-bedroom home.  The days on market average just two months (57 days).

Since Janurary 1st of this year two townhouses with two-bedroom have sold in the community for $173,000 and $210,000.  The days on market averaged just two weeks (15 days).  Since that date there has been eight three-bedroom townhouse sold as well.  The closing prices on these homes ranged from $175,000 to $240,00 with the average being $207,000.  The days on market for these homes ranged from two weeks (14 days) to near nine months (287 days), with the average being three months (90 days).

Currently there is one three-bedroom home on the market for rent at $1700 per month and has been on the market for near a month and a half (44 days).  There is another three-bedroom townhouse that has had a application to rent accepted by the landlord for $1575 per month, this home was on the market for near three months (91 days).

Since Janurary 1st of this year four two-bedroom townhouse have been rented all within the $1400 to $1450 per month range and the average days on market was just short of two months (54 days).  Since that same date another four three-bedroom townhouse have rented.  All of these homes rented in the range from $1650 to $1700 per month and days on market here too averaged just short of two months (58 days).

My team and I stand ready to help with your real estate needs here in Leisure World.  Please feel free to contact me by any of the following methods - my web page,  email, or (301) 237-2277.

At the time of this posting there are only 114 days left to take advantage of the $8000 tax-credit for first-time home buyers.

Robert J. Force

Prudential Carruthers Realtors - Gaithersburg, Md.