Poolesville MD 20837 Real Estate Trend Indicator

By Roy Kelley

Industry Observer with Retired

December 16, 2009 02:19 AM

Poolesville MD 20837 Real Estate Trend Indicator

If you are thinking about buying or selling a home in zip code 20837, you should take a close look at the following report that compares the statistics for the past month with the same month last year. During the month, there were 26 active listings of homes for sale in Poolesville. There were 7 new listings in the area and 2 went to pending new contracts. There were 3 settlements and 1 last year. The total sold dollar volume was up 78.99% from last year. The median sold price was $495,000. It is still a soft market which favors buyers. Many home buyers are using FHA financing to take advantage of the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include up to $35,000 of the cost of home improvements in the mortgage. Winchester Homes has opened a beautiful model in the new Stoney Springs community on Whites Ferry Road. It will be interesting to watch the success of this community and its impact on the real estate market in Poolesville.

There are 23 homes for sale on the multiple listing service for Zip Code 20837. Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-96996271-926

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

FHA loan limits for Montgomery County: $729,750. Limit for FHA reverse mortgages: $625,000.

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

ZIP Code: 20837 Poolesville, 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	0	0	0	0	0	1 -30 Days	0
$100,000 - 149,999	0	0	0	0	0	0	0	0	31-60 Days	0
$150,000 - 199,999	0	0	0	0	0	2	0	0	61 - 90 Days	2
$200,000 - 249,999	0	0	0	0	0	0	0	0	91-120 Days	0
$250,000 - 299,999	0	0	1	0	0	4	0	0	Over 120 Days	1
$300,000 - 349,999	0	0	0	0	0	2	0	0	Total	3
$350,000 - 399,999	0	0	0	0	0	0	0	0
$400,000 - 449,999	0	0	0	0	0	5	0	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	0	2	0	0	1	0	0
$500,000 - 599,999	0	0	0	0	0	3	0	0	Conventional	2
$600,000 - 699,999	0	0	0	0	0	5	0	0	FHA	1
$700,000 - 799,999	0	0	0	0	0	2	0	0	VA	0
$800,000 - 899,999	0	0	0	0	0	1	0	0	Assumption	0
$900,000 - 999,999	0	0	0	0	0	0	0	0	Cash	0
$1,000,000 - 2,499,999	0	0	0	0	0	1	0	0	Owner Finance	0
$2,500,000 - 4,999,999	0	0	0	0	0	0	0	0	All Other	0
$5,000,000 & Over	0	0	0	0	0	0	0	0	Unreported	0
Totals	0	0	3	0	0	26	0	0	Total	3
Grand Totals	3	26

	2009	2008	% Change
Total Sold Dollar Volume:	$ 1,286,950	$ 719,000	78.99 %
Average Sold Price:	$ 428,983	$ 719,000	- 40.34 %
Median Sold Price:	$ 495,000	$ 719,000	- 31.15 %
Total Units Sold:	3	1	200.00 %
Average Days on Market:	99	3	3,200.00 %
Average List Price for Solds:	$ 463,133	$ 719,000	- 35.59 %
Avg Sale Price as a percentage of Avg List Price:	92.63 %	100.00 %

Total NEW listings:	7
Total Properties Marked Contract:	0
Total Properties Marked Contingent Contract:	2
Total NEW pendings (Contracts + Contingents):	2