Silver Spring Md. Leisure World CO-OP Market Report October 2009

This market report is to cover the CO-OPs in the senior citizen community of Leisure World in Silver Spring Maryland 20906.  At the time of this report (11/1/09) there are 31 Co-Ops on the market FOR SALE or FOR RENT in this community.  The configurations of these units range from a studio apartment with 635 sq ft of living space to townhouse with 1600 sq ft.  There are two on the market FOR RENT at this time and the other 29 are listed for sale.

FOR RENT

There is one one-bedroom CO-OP FOR RENT at this time, it a studio apartment listed at $900/month and it has been on the market for nearly four months (114 days) with the same Realtor.  The other CO-OP for rent is a two-bedroom one bath model listed for $1000/month and has been on the market for nearly a month (28 days) at the time of this report.

At the time of this report there are no applications FOR RENT that have been accepted and lease not yet signed.

No CO-OP has been rented since October 1^st of 2009.

FOR SALE

At the time of this report there are six one-bedroom one bath CO-OP units on the market FOR SALE in Leisure World.  The sizes of these apartments range from a studio of 635 sq ft to a apartment with 1014 sq. ft.  of living space.  The prices range from a low of $43,900 to a high of $86,500, with the average being $55,482.  The days on market range for these homes range from a short as less than two weeks (10 days) to nearly five months (141 days), with the average being just about two months (63 days).

At the time of this report there are five one-bedroom one bath CO-OPS under contract in Leisure World.  The last known list price of these homes ranges from $43,000 to $69,000, for an average of $48,200.  The days on market for these homes ranged from a low of less than two weeks (11 days) to over two years (783 days).

Since October 1^st of this year two one-bedroom one full bath CO-Ops have gone to settlement in Leisure World of Maryland. The settled prices of these homes ranged from $40,000 and $45,000. The days on market were from two weeks (14 days) to nearly four months (110 days).

The majority of the CO-OP units FOR SALE in Leisure World at this time are the 20 two-bedroom one full bath models.  These homes range in size from 1035 sq ft to 1513 sq ft with a fireplace.  The list price of these homes currently range from $60,000 to $229,900, with the average being $100,502.  The days on market range from as short as a week (3 days) to nearly 19 months (561 days), with the average being five months (150 days).

At the time of this report there are four two-bedroom one bath CO-OPS under contract in Leisure World.  The last known list prices of these home where $79,000 and $129,000, for an average of $92,613.  The days on market for these homes ranged from a low of nearly one month (25 days) to nearly seven months (205 days), for an average of nearly three months (92 days).

Since October 1^st of this year three two-bedroom one full bath CO-Ops have gone to settlement in Leisure World of Maryland. The settled prices of these homes ranged from $80,500 to $98,000. The days on market were from nearly five month s(145 days) to over six months (190 days), with the average being short of six months (175 days).

There is also two two-bedroom two full bath one half bath townhouse CO-Ops on the market at this time.  These homes have 1600 sq ft of living space.  The current list prices of these homes ranges from $117,900 to $130,000, and have been on the market with their current Realtor for an average of nearly six months (163 days). 

There are no two-bedroom two bath CO-Ops under contract at the time of this report.

Since October 1^st of this year, one townhouse CO-OP has gone to the closing table.  This home sold for $124,000 after being on the market for nearly four months (127 days).

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