Gaithersburg, MD 20878 Zip Code Home Sales Statistics
The following residential sales statistics are for the past month and are compared with the same month last year. There were 92 new listings of homes for sale and 58 homes for sale went to pending new contracts. The sold dollar volume for the zip code was down 7.06% from last year. The number of homes sold and settled was 58 from 65 last year. The average time on the market was 53 days from 66 days last year. The average sale price was 93.40% of the average list price. The average sold price was $458,026. The median sold price was $452,500.
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RealEstate Business Intelligence, LLC.
ZIP Code Statistics - Higher Price Segment Format
ZIP Code: 20878 Gaithersburg, MD
From: 08/01/2010 to 08/31/2010 Statistics generated on: 09/08/2010
| 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 | 1 | 0 | 1 | 11 | 0 | 1 -30 Days | 27 |
| $100,000 - 149,999 | 0 | 0 | 0 | 3 | 0 | 2 | 3 | 0 | 31-60 Days | 17 |
| $150,000 - 199,999 | 0 | 1 | 0 | 1 | 0 | 5 | 10 | 0 | 61 - 90 Days | 7 |
| $200,000 - 249,999 | 0 | 1 | 0 | 3 | 0 | 11 | 10 | 0 | 91-120 Days | 1 |
| $250,000 - 299,999 | 0 | 1 | 1 | 2 | 0 | 16 | 18 | 0 | Over 120 Days | 6 |
| $300,000 - 349,999 | 1 | 3 | 0 | 2 | 0 | 22 | 19 | 0 | Total | 58 |
| $350,000 - 399,999 | 1 | 1 | 1 | 0 | 0 | 12 | 7 | 0 | ||
| $400,000 - 449,999 | 0 | 3 | 2 | 0 | 0 | 11 | 1 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 3 | 1 | 1 | 0 | 17 | 0 | 0 | ||
| $500,000 - 599,999 | 0 | 3 | 9 | 0 | 0 | 41 | 0 | 0 | Conventional | 35 |
| $600,000 - 699,999 | 0 | 1 | 6 | 0 | 0 | 28 | 0 | 0 | FHA | 15 |
| $700,000 - 799,999 | 0 | 0 | 2 | 0 | 0 | 10 | 0 | 0 | VA | 1 |
| $800,000 - 899,999 | 0 | 0 | 1 | 0 | 0 | 10 | 0 | 0 | Assumption | 0 |
| $900,000 - 999,999 | 0 | 1 | 1 | 0 | 0 | 13 | 0 | 0 | Cash | 7 |
| $1,000,000 - 2,499,999 | 0 | 0 | 1 | 0 | 0 | 9 | 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 | 2 | 18 | 25 | 13 | 0 | 208 | 79 | 0 | Total | 58 |
| Grand Totals | 58 | 287 |
|
|
Source: RealEstate Business Intelligence, LLC. An MRIS company. All Rights Reserved.
Copyright 2010 - Information deemed reliable, but is not guaranteed.
Mortgage Financing: Pre-approval for financing is the first step in the home purchase process. Buyers, including investors, need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
The FHA loan limit for Montgomery County and Frederick County is $729,750. FHA financing has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows borrowers to include up to $35,000 of home improvements in the mortgage amount. The limit for FHA reverse mortgages: $625,000. Age 62+ seniors use reverse mortgages when they need to eliminate mortgage payments.
Special notice on FHA financing. Monthly mortgage insurance rates are scheduled to increase. FHA will make the premium fee changes on all new case numbers effective October 4, 2010. This will increase monthly mortgage payments and will increase the income needed to qualify. Talk with your loan officer if you are planning to use FHA financing. Buyers that are ready to purchase can save by purchasing now rather than later.
All of the available listings of homes for sale may be viewed on MRIS, the regional multiple listing service, on Homes Prospector at www.roykelley.com
Please contact us with your questions on the residential real estate market. Buyers and sellers should understand the impact of short sale listings and REO properties.
Your referrals of friends and family members will always be appreciated.
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