GAITHERSBURG, MD 20878, KENTLANDS, LAKELANDS, NORTH POTOMAC ZIP CODE STATISTICS

By Roy Kelley

Industry Observer with Retired

September 14, 2009 07:49 AM

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 244 homes listed for sale on MRIS during the past month. 72 new listings were added to the inventory and 85 properties went to pending contracts. 65 went to settlement during the month as compared with 50 settlements during the same month last year. The sold dollar volume was up 18.08% from last year. The average sold price was $439,748 and the median sold price was $365,000, down 16.28% from last year. The average days on the market was 66 as compared to 96 last year. The average sale price was 94.39% of the average list price. 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.

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

ZIP Code: 20878 Gaithersburg, MD
From: 08/01/2009 to 08/31/2009 Statistics generated on: 09/09/2009

	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	2	0	0	10	0	1 -30 Days	35
$100,000 - 149,999	0	0	0	4	0	1	12	0	31-60 Days	13
$150,000 - 199,999	0	0	0	3	0	3	1	0	61 - 90 Days	5
$200,000 - 249,999	0	1	0	3	0	8	5	0	91-120 Days	1
$250,000 - 299,999	0	5	1	2	0	19	14	0	Over 120 Days	11
$300,000 - 349,999	0	4	2	2	0	16	12	0	Total	65
$350,000 - 399,999	0	1	3	3	0	10	8	0
$400,000 - 449,999	0	0	1	0	0	10	8	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	2	1	0	0	21	0	0
$500,000 - 599,999	0	4	6	0	0	26	0	0	Conventional	39
$600,000 - 699,999	0	0	3	0	0	18	0	0	FHA	17
$700,000 - 799,999	0	2	3	0	0	8	0	0	VA	1
$800,000 - 899,999	0	0	5	0	0	9	0	0	Assumption	2
$900,000 - 999,999	0	0	1	0	0	8	0	0	Cash	5
$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	1
$5,000,000 & Over	0	0	0	0	0	0	0	0	Unreported	0
Totals	0	19	27	19	0	174	70	0	Total	65
Grand Totals	65	244

	2009	2008	% Change
Total Sold Dollar Volume:	$ 28,583,650	$ 24,207,639	18.08 %
Average Sold Price:	$ 439,748	$ 484,153	- 9.17 %
Median Sold Price:	$ 365,000	$ 436,000	- 16.28 %
Total Units Sold:	65	50	30.00 %
Average Days on Market:	66	96	- 31.25 %
Average List Price for Solds:	$ 465,877	$ 524,341	- 11.15 %
Avg Sale Price as a percentage of Avg List Price:	94.39 %	92.34 %

Total NEW listings:	72
Total Properties Marked Contract:	42
Total Properties Marked Contingent Contract:	43
Total NEW pendings (Contracts + Contingents):	85