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

By Roy Kelley

Industry Observer with Retired

December 14, 2009 05:26 AM

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

If you own a home in zip code 20878 or wish to purchase in that area, you will want to know what is going on in the real estate market. There were 203 homes listed for sale on MRIS during the past month. 61 new listings were added to the inventory and 67 properties went to pending contracts. 58 went to settlement during the month as compared with 27 settlements during the same month last year. The sold dollar volume was up 98.66% from last year. The average sold price was $435,088 and the median sold price was $386,218, down 11.82% from last year. The average days on the market was 55 as compared to 97 last year. The average sale price was 94.99% of the average list price. It is a wonderful market for first time home buyers and move up home buyers.

There are 141 active listings of homes for sale in Zip Code 20878. Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-96917110-968

The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php

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

ZIP Code: 20878 Gaithersburg, MD
From: 11/01/2009 to 11/30/2009 Statistics generated on: 12/08/2009

	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	8	0	1 -30 Days	32
$100,000 - 149,999	0	0	0	2	0	1	10	0	31-60 Days	10
$150,000 - 199,999	0	1	0	0	0	2	5	0	61 - 90 Days	8
$200,000 - 249,999	0	1	0	0	0	7	7	0	91-120 Days	2
$250,000 - 299,999	1	3	0	2	0	17	8	0	Over 120 Days	6
$300,000 - 349,999	2	5	1	3	0	16	14	0	Total	58
$350,000 - 399,999	0	3	1	4	0	15	6	0
$400,000 - 449,999	0	3	1	0	0	13	3	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	2	5	1	0	14	0	0
$500,000 - 599,999	0	0	5	0	0	15	0	0	Conventional	31
$600,000 - 699,999	0	0	1	0	0	16	0	0	FHA	11
$700,000 - 799,999	0	2	2	0	0	7	0	0	VA	2
$800,000 - 899,999	0	0	4	0	0	4	0	0	Assumption	3
$900,000 - 999,999	0	0	1	0	0	6	0	0	Cash	10
$1,000,000 - 2,499,999	0	0	0	0	0	9	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	3	20	21	14	0	142	61	0	Total	58
Grand Totals	58	203

	2009	2008	% Change
Total Sold Dollar Volume:	$ 25,235,085	$ 12,702,389	98.66 %
Average Sold Price:	$ 435,088	$ 470,459	- 7.52 %
Median Sold Price:	$ 386,218	$ 438,000	- 11.82 %
Total Units Sold:	58	27	114.81 %
Average Days on Market:	55	97	- 43.30 %
Average List Price for Solds:	$ 458,057	$ 519,659	- 11.85 %
Avg Sale Price as a percentage of Avg List Price:	94.99 %	90.53 %

Total NEW listings:	61
Total Properties Marked Contract:	26
Total Properties Marked Contingent Contract:	41
Total NEW pendings (Contracts + Contingents):	67