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Germantown, Maryland 20874 and 20876 - Reale Estate Trends

The Germantown real estate market is soft and that means that it is a buyers market area. It is interesting to note that zip code 20876 is having more difficulties than zip code 20874. In 20874, the average days on the market is 103 as compared to an average days on the market of 218 in 20876. Sellers should be prepared for the longer time that it takes to market the average home. Due to the high cost of marketing, some agents are turning down listings when the sellers are not highly motivated. In 20874, the average sales price is 91.17% of the average list price as compared to the lower sales price average of 88% in 20876. Sellers are facing stiff competition for lender owned foreclosures that are being discounted to reduce the inventory of REO properties.

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

ZIP Code: 20874 Germantown, MD - Roy Kelley, Associate Broker, RE/MAX Realty Group
From: 04/01/2008 to 04/30/2008 Statistics generated on: 05/07/2008

	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	1	1 -30 Days	18
$100,000 - 149,999	0	0	0	0	0	0	0	0	31-60 Days	9
$150,000 - 199,999	1	2	1	1	0	23	23	0	61 - 90 Days	6
$200,000 - 249,999	1	2	0	10	0	45	57	0	91-120 Days	2
$250,000 - 299,999	1	5	0	5	0	96	34	0	Over 120 Days	25
$300,000 - 349,999	0	8	2	0	1	70	10	0	Total	60
$350,000 - 399,999	0	5	4	0	0	54	4	0
$400,000 - 449,999	0	2	3	0	0	19	1	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	1	0	0	0	10	0	0	Type of Financing of Units Sold (No. of Units)
$500,000 - 599,999	0	0	2	0	0	26	1	0	Conventional	35
$600,000 - 699,999	0	0	2	0	0	16	0	0	FHA	18
$700,000 - 799,999	0	0	0	0	0	4	0	0	VA	0
$800,000 - 899,999	0	0	1	0	0	7	0	0	Assumption	4
$900,000 - 999,999	0	0	0	0	0	2	0	0	Cash	2
$1,000,000 - 2,499,999	0	0	0	0	0	18	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	25	15	16	1	390	130	1	Total	60
Grand Totals	60					521

	2008	2007	% Change
Total Sold Dollar Volume:	$ 19,797,490	$ 28,657,100	- 30.92 %
Average Sold Price:	$ 329,958	$ 362,748	- 9.04 %
Median Sold Price:	$ 305,500	$ 349,900	- 12.69 %
Total Units Sold:	60	79	- 24.05 %
Average Days on Market:	103	77	33.77 %
Average List Price for Solds:	$ 361,896	$ 372,921	- 2.96 %
Avg Sale Price as a percentage of Avg List Price:	91.17 %	97.27 %

Total NEW listings:	166
Total Properties Marked Contract:	51
Total Properties Marked Contingent Contract:	45
Total NEW pendings (Contracts + Contingents):	96

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

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

ZIP Code: 20876 Germantown, MD - Roy Kelley, Associate Broker, RE/MAX Realty Group
From: 04/01/2008 to 04/30/2008 Statistics generated on: 05/07/2008

	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	1	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	8	5	0	61 - 90 Days	0
$200,000 - 249,999	1	1	0	1	0	20	13	0	91-120 Days	1
$250,000 - 299,999	1	1	0	0	0	24	18	0	Over 120 Days	9
$300,000 - 349,999	0	1	0	1	0	18	7	0	Total	10
$350,000 - 399,999	0	0	1	0	0	18	7	0
$400,000 - 449,999	0	0	0	0	0	9	1	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	0	2	0	0	8	0	0	Type of Financing of Units Sold (No. of Units)
$500,000 - 599,999	0	0	0	0	0	31	0	0	Conventional	7
$600,000 - 699,999	0	0	0	0	0	20	0	0	FHA	0
$700,000 - 799,999	0	0	0	0	0	3	0	0	VA	0
$800,000 - 899,999	0	0	0	0	0	2	0	0	Assumption	3
$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	2	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	3	3	2	0	163	52	0	Total	10
Grand Totals	10					215

	2008	2007	% Change
Total Sold Dollar Volume:	$ 3,201,405	$ 12,827,140	- 75.04 %
Average Sold Price:	$ 320,141	$ 413,779	- 22.63 %
Median Sold Price:	$ 284,828	$ 372,000	- 23.43 %
Total Units Sold:	10	31	- 67.74 %
Average Days on Market:	218	102	113.73 %
Average List Price for Solds:	$ 363,795	$ 430,056	- 15.41 %
Avg Sale Price as a percentage of Avg List Price:	88.00 %	96.22 %

Total NEW listings:	52
Total Properties Marked Contract:	12
Total Properties Marked Contingent Contract:	8
Total NEW pendings (Contracts + Contingents):	20

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact Roy Kelley for exclusive buyer representation and advice on taking advantage of the opportunities with lender owned homes. roykelley@mris.com

Posted by Roy Kelley on 05/12/2008 08:45 AM

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germantown, maryland 20874 and 20876 reale estate trends, roy kelley, remax realty group, gaithersburg, md

This post has been included in Maryland Information Montgomery County, MD Information

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Real Estate Agent: Roy Kelley (RE/MAX Realty Group)

Roy Kelley
Gaithersburg, MD
More about me…
RE/MAX Realty Group

Office Phone: (301) 921-4569
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Comments from an associate broker with over 40 years of experience in the residential real estate field. REO and foreclosures expert in Maryland.

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