Silver Spring Md. Leisure World Rental market report - Aug 2009

This market report is to cover the RENTAL market in the senior citizen community of Leisure World in Silver Spring Maryland 20906.  At the time of this report (09/13/09) there are a total of 39 rentals on the market in this community.  The configurations of these units range from a studio apartment with 635 sq ft of living space to a big three-bedroom two-bath apartment with 1610 sq ft. of living space.

Since August 1^st 2009, 13 apartments have been rented in Leisure World.

One Bedroom apartments

Currently there are nine one-bedroom one bath apartments on the market for rent.  The listed prices range from a low of $900/month to $1,190/month, with the average being $1,024.  The days on market range from as short as 11 days to nearly nine months (276 days), with the average being just over three months (95 days).  Most of these rentals include utilities.  The living space in these apartments for rent ranges from a low of 635 sq ft to 1020 sq ft.

Currently the landlords of three one-bedroom apartments have accepted applications to rent the units but have not yet signed the lease.  The last known rents for these apartments ranged from a low of $1000/month to a high of $1,100/month, with the average just as expected $1,050.  The days on market for these homes ranged from just over two weeks (17 days) to a little over a month (41 days), with the average being nearly a month (31 days).

Since Aug 1^st two one-bedroom apartments have been rented in Leisure World.  These apartments rented for $1000 and $1075 and both were on the market of a month (31 and 30 days),

Two Bedroom apartments

Currently there are 23 two-bedroom apartments on the market for rent, clearly a majority of the units.  The listed rents range from a low of $950/month to $1,750/month, with the average being $1,361.  The days on market range from as short as 1 day to just over 13  months (409 days), with the average approaching four  months (108 days).   The living space in these apartments for rent ranges from a low of 959 sq ft.  to 1520 sq ft.

The landlords of five two-bedroom apartments have accepted applications to rent the units but have not yet signed the lease.  The last known rents for these apartments ranged from a low of $1000/month to a high of $1,200/month, with the average just as expected $1,120.  The days on market for these homes ranged from just over two weeks (16 days) to nearly five months (141 days), with the average being approximately two month (63 days).

Since Aug 1^st of this year 11 two-bedroom apartments have been rented in Leisure World.  The rents of these units ranged from $1000 to $1500 per month, with the average being $1250.  The days on market for this set of homes ranged from 1 day to nearly eight months (253), with the average being just short of three months (81 days).

Three Bedroom apartments

Currently there are seven three-bedroom apartments on the market for rent.  The listed rents range from a low of $1,200/month to $1,750/month, with the average being $1,557.  The days on market range from one month (34 days) to just over six months (187 days), with the average approaching three  months (83 days).   The living space in these apartments for rent ranges from a low of 1193 sq ft.  to 1610 sq ft.

No applications to rent a three-bedroom apartment are under consideration nor has any rented since Aug 1^st of 2009.

If you or anyone you know would be interested in one of these homes, or looking for more detail on this set of homes, please get in contact with me.