Silver Spring Md. 20906 - Condo - Market report - Sept 2009

This is a market report covering Condos for sale in the Silver Spring, Md. 20906 zip code, but does not including those in the senior citizen community of Leisure World of Maryland.  At the time of this report (9/24/09) there were a total of 32 condos on the market for sale.  While there are one-bedroom homes on the market at the time, the least expensive is a two bedroom two bath home in the Grand Bel sub-division on the market for $54,900.  The most expensive is a three-bedroom two bath condo on the market for $215,900 in the Wintergate/Longmead community.  The average current list price for the homes is $132,699. While several are relatively new to the market ( less than two weeks) and the longest with the current Realtor has been on the market for over 19 months (588 day), the average is slightly over four months (131 days).

There are likewise a total of 16 condos under contract in this area.  The last known list price of these homes ranged from $59,900 to $219,000, with the average being $120,033.  The short period of time these homes was on the market was just one week while the longest with the current Realtor being just short of a year (351 days). The average time on market for these homes was just about three months (88 days).

Since the middle of last month (8/15/09), 11 condos in the 20906 zip code have successfully sold.  Closing prices have ranged from $54,000 after being on the market for less than two weeks (14 days) to $215,000 after being on the market for just under five months (144 days).  The day on market for the set ranged from just about two week (12 days) to very near six months (175 days), with the average being near two months (55 days).

One Bedroom

There are currently eight one-bedroom condos on the market at the time of this report in this area.  The current list prices of these homes range from a low of $85,000 to $189.000; with the average being $129,781.  While some are new to the market in the last month and the longest with the current Realtor is close to three months (205 days); the average is little over one month (65 days).

Currently there is only one one-bedroom condo under contract in this area.  The last known list price of this home is $59,000 and was on the market for nearly five months (155 days).

No one-bedroom condo reached the settlement table during the period of this report.

Two Bedroom

A majority of the condos on the market are the 16 two-bedroom condos in this area. The currently list prices of these  home range from the least expensive in the area at $54,900 to $209,900; with the average being $126,231.   While some are new to the market this month and the longest being near 19 months (588 days); with the average being slightly over six months (192 days).

Currently there are five two-bedroom condos under contract in this area.  The last known list price of these homes ranged from $79,900 to $123,500, with the average being $108,460.  The time on market for these homes with the current Realtor ranged from as little as a week (7 days) to slightly over three months (102 days)  for an average of just over one month (44 days). 

Since Aug 15, eight two-bedroom condos successfully closed in this area. The closing price on these homes ranged from a low of $54,000 to a high of $200,000.  The days on market with the current Realtor ranged from as short as two weeks (12 days) to as long as two months (63 days); with the average being one month (33 days).

Three Bedrooms

The nine three-bedroom homes in the report area range in price from $77,900 to $215,900; with the average being $143,158.  While the shortest time on the market for these home was less than a week (1 day) and the longest  with the current Realtor for being slightly over six months (198 days) , the average is just over two months (75 days).

There are ten three-bedroom condos currently under contract.  These homes range in price from $71,000 to $219,000; where the average is $131,832.  The days on market for these condos with the current Realtor ranged from eight day to over 11 months (351 days), with the average being near three months (104 days).

Just two three-bedroom condos have successfully sold in this area since the 15th of Aug. The closing prices ranged from $125,000 to $215,000.  The days on market with the current Realtor for these homes ranged from nearly five months (144 days) to just short of six months (175 days), with the average being just over five months (160 days).

 Four bedrooms

There is no four bedroom condo on the market for sale or under contract in this area at the time of this report.

One four-bedroom condo went to the closing table from the report area since Aug 15, 2009. This home sold for $75,000 after being on the market with the current Realtor for 20 days.

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