GERMANTOWN, MARYLAND 20876 REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20876, you should take a close look at the following report that compares the statistics for November with the same month last year. There were 33 new listings in the zip code and 24 listings went to pending new contracts. There were 16 actual settlements as compared to 16 homes sold last year. The average sold price was $263,341 and the median sold price was $257,450.  The total sold dollar volume was down 35.36%. The average number of days on the market was 126 as compared to 103 days last year.  Home sellers need to be prepared for the longer marketing time.  The average sale price was 92.18% of the average list price.  (Buyers are making low offers).  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. First time home buyers have the benefit of the currently available $7,500 tax credit. The lenders still have a surplus inventory of foreclosures in Montgomery County and buyers are taking advantage of the bargains  Some buyers are finding it more difficult to qualify for mortgage financing.  All prospective buyers should get pre-approved for mortgage financing as the first step in the home purchase process.   

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: 20876 Germantown, 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 1 0 1 0 1 -30 Days 4
$100,000 - 149,999 0 0 0 1 0 1 1 0 31-60 Days 2
$150,000 - 199,999 2 1 0 0 0 32 14 0 61 - 90 Days 3
$200,000 - 249,999 0 0 1 1 0 24 10 0 91-120 Days 2
$250,000 - 299,999 0 2 1 1 0 20 3 0 Over 120 Days 5
$300,000 - 349,999 0 1 1 1 0 17 6 0 Total 16
$350,000 - 399,999 0 0 0 0 0 14 1 0  
$400,000 - 449,999 0 0 0 0 0 9 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 1 0 0 9 0 0
$500,000 - 599,999 0 0 1 0 0 12 0 0 Conventional 9
$600,000 - 699,999 0 0 0 0 0 6 0 0 FHA 6
$700,000 - 799,999 0 0 0 0 0 0 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 2 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 1 0 0 Cash 1
$1,000,000 - 2,499,999 0 0 0 0 0 4 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 4 5 4 1 151 36 0 Total 16
Grand Totals 16 187    
    2008   2007   % Change
Total Sold Dollar Volume: $ 4,213,450 $ 6,518,700 - 35.36 %
Average Sold Price: $ 263,341 $ 407,419 - 35.36 %
Median Sold Price: $ 257,450 $ 390,000 - 33.99 %
Total Units Sold: 16 16 0.00 %
Average Days on Market: 126 103 22.33 %
Average List Price for Solds: $ 285,691 $ 448,609 - 36.32 %
Avg Sale Price as a
percentage of Avg List Price:		 92.18 % 90.82 %  
Total NEW listings: 33
Total Properties Marked Contract: 12
Total Properties Marked Contingent Contract: 12
Total NEW pendings (Contracts + Contingents): 24

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.

We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC. 

Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group 

Client Assistance:  301-670-8996   

Recipient of the RE/MAX International Lifetime Achievement Award - 2008

 

0 Comments on GERMANTOWN, MARYLAND 20876 REAL ESTATE TREND INDICATOR

Login or register to leave a comment
 
Img_2076 Rainmaker_large

Roy Kelley, Montgomery County, MD Homes For Sale

Gaithersburg, MD

More about me…

Roy Kelley and RE/MAX Realty Group

Address: Roy Kelley, RE/MAX Realty Group, 6 Montgomery Village Avenue, Suite 200, Gaithersburg, MD, 20879

Office Phone: (301) 921-4569

Email Me

Roy Kelley advises home buyers, sellers and REO asset managers, in the Maryland suburbs of Washington DC and nearby counties. REO and foreclosures sales. Market area includes Montgomery County, Frederick County, Washington County and Prince George's County. Real Estate blogs


Listings

Links

Archives

RSS 2.0 Feed for this blog