POTOMAC, MARYLAND REAL ESTATE TREND INDICATOR

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Education & Training with Realty Group Referrals 16766

POTOMAC, MARYLAND REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20854, you should take a close look at the following report that compares the statistics for November with the same month last year. There were 31 new listings in the area and 20 listings went to new pending contracts. There were 21 actual settlements as compared to 27 homes sold last year. The total sold dollar volume was down 29.03%. The average number of days on the market was up to 85 from 83 days last year.  The average sale price was 93.47% of the average list price.  The average sold price was $905,095 down 8.75% from last year. What does this mean?  It is still a soft market which favors buyers.  Buyers have the largest selection and the lowest prices that have been available for several years.  

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website:  www.roykelley.com

Email:  roykelley@mris.com;  Client Assistance:  301-670-8996

ZIP Code: 20854 Potomac, MD
From: 11/01/2008 to 11/30/2008                Statistics generated on: 12/08/2008

  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 0 1 -30 Days 10
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 1
$150,000 - 199,999 0 0 0 0 0 0 0 0 61 - 90 Days 4
$200,000 - 249,999 0 0 0 0 0 0 0 0 91-120 Days 1
$250,000 - 299,999 0 0 0 0 0 0 0 0 Over 120 Days 5
$300,000 - 349,999 0 0 0 0 0 0 0 0 Total 21
$350,000 - 399,999 0 1 1 0 0 1 0 0  
$400,000 - 449,999 0 1 0 0 0 1 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 1 0 0 0 2 1 0
$500,000 - 599,999 0 0 1 0 0 14 0 0 Conventional 15
$600,000 - 699,999 0 1 2 0 0 20 0 0 FHA 4
$700,000 - 799,999 0 0 2 0 0 24 1 0 VA 0
$800,000 - 899,999 0 0 3 0 0 11 0 0 Assumption 1
$900,000 - 999,999 0 0 0 0 0 10 1 0 Cash 1
$1,000,000 - 2,499,999 0 0 8 0 0 116 2 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 30 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 10 0 0 Unreported 0
Totals 0 4 17 0 0 239 5 0 Total 21
Grand Totals 21 244    
    2008   2007   % Change
Total Sold Dollar Volume: $ 19,007,000 $ 26,780,034 - 29.03 %
Average Sold Price: $ 905,095 $ 991,853 - 8.75 %
Median Sold Price: $ 810,000 $ 790,000 2.53 %
Total Units Sold: 21 27 - 22.22 %
Average Days on Market: 85 83 2.41 %
Average List Price for Solds: $ 968,371 $ 1,074,896 - 9.91 %
Avg Sale Price as a
percentage of Avg List Price:
93.47 % 92.27 %  
Total NEW listings: 31
Total Properties Marked Contract: 9
Total Properties Marked Contingent Contract: 11
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 us with your questions on the residential real estate market.

Posted by

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message to RoyKelley@mris.com if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

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Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I hope you have enjoyed a very productive November.

Best wishes to you and your family for a Very Happy Thanksgiving.

Nov 26, 2015 06:05 PM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

We are still experiencing mild weather in Maryland. 

Enjoy the holidays as you have a most productive December.

Dec 15, 2015 11:29 AM #2
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

We have another beautiful day in Maryland and Dolores has gone to a Red Hat Society Luncheon. Have an outstanding week.

Dec 16, 2015 11:15 AM #3
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

We are still in a recovery mode after the recent blizzard. Take great care if you will be shoveling snow. The conditions are icy in Kentlands.

Jan 27, 2016 01:22 PM #4
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