Leisure World Silver Spring, Md. 20906 - Condominum Aug. 2007 Market Report.

By Bob Force REALTOR®

Silver Spring, Md. 20906

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At the end of the month of August 2007, there were a total of 155 Condo units on the market FOR SALE in the Leisure World Community in Silver Spring Md.  20906.  Of those on the market, thirty nine (39) where either new or returned to the market during the month of August.  The prices of these listings ranged from $109,000 for a 1 bedroom, 1 bath unit with 666 sq ft of living space to a $1,099,000 5 bedroom 4 bath apartment on the top floor of a 10 story highrise.  The average list price for the 155 units is $279,672.  The current number of days on market for these units ranges from 7 days to near two years at 625 days, with the average being over 5 months at 164 days.  

During the month of August, only 9 Condo went under some form of contract; while another 15 went to closing.  The list price of the homes that were sold ranged from $159,999 to $486,310.  The days on the market for these homes ranged from immediately to close to a year at 350, with the average being close to four months at 110 days.  

At that rate, the number of homes on the market (155) divided by the number that sold (15); there is 10 months of inventory on the market.  This is clearly a home buyer's market figure.

These homes are patio homes, townhouses, piggy backs, garden apartments, mid-rise apartments, or high-rise apartments.