GAITHERSBURG,KENTLANDS,LAKELANDS, NORTH POTOMAC, MARYLAND 20878 REAL ESTATE TREND INDICATOR

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Real Estate Agent with Realty Group Referrals 16766

GAITHERSBURG,KENTLANDS,LAKELANDS, NORTH POTOMAC, MARYLAND 20878 REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20878, you should take a close look at the following report that compares the statistics for March with the same month last year. There were 85 new listings in the area and 66 listings went to pending new contracts. There were 261 active listings of homes for sale in 20878 during the month. There were 41 actual settlements as compared to 45 homes sold last year. The total sold dollar volume was down 22.09%. The median sold price was $440,000.  The average number of days on the market was 121 from 122 days last year.  The average sale price was 90.96% of the average list price.  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 buyers have the benefit of the currently available $8,000 federal tax credit for purchases by the end of November. The lenders still have a surplus inventory of foreclosures in Montgomery County and buyers are taking advantage of the bargains.  

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: 20878 Gaithersburg, MD
From: 03/01/2009 to 03/31/2009                Statistics generated on: 04/08/2009

  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 11
$100,000 - 149,999 0 0 0 2 0 0 12 0 31-60 Days 5
$150,000 - 199,999 0 0 0 2 0 4 15 0 61 - 90 Days 4
$200,000 - 249,999 0 1 0 0 0 7 8 0 91-120 Days 3
$250,000 - 299,999 0 5 0 1 0 22 12 0 Over 120 Days 18
$300,000 - 349,999 1 1 2 0 0 13 14 0 Total 41
$350,000 - 399,999 0 0 0 0 0 11 6 0  
$400,000 - 449,999 0 5 1 1 0 7 2 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 2 0 0 18 1 0
$500,000 - 599,999 0 2 6 0 0 32 1 0 Conventional 27
$600,000 - 699,999 0 1 5 0 0 23 0 0 FHA 7
$700,000 - 799,999 0 0 1 0 0 16 0 0 VA 0
$800,000 - 899,999 0 0 2 0 0 10 0 0 Assumption 3
$900,000 - 999,999 0 0 0 0 0 7 0 0 Cash 3
$1,000,000 - 2,499,999 0 0 0 0 0 19 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 1 15 19 6 0 189 72 0 Total 41
Grand Totals 41 261    
    2009   2008   % Change
Total Sold Dollar Volume: $ 18,277,500 $ 23,460,300 - 22.09 %
Average Sold Price: $ 445,793 $ 521,340 - 14.49 %
Median Sold Price: $ 440,000 $ 455,000 - 3.30 %
Total Units Sold: 41 45 - 8.89 %
Average Days on Market: 121 122 - 0.82 %
Average List Price for Solds: $ 490,110 $ 565,710 - 13.36 %
Avg Sale Price as a
percentage of Avg List Price:
90.96 % 92.16 %  
Total NEW listings: 85
Total Properties Marked Contract: 37
Total Properties Marked Contingent Contract: 29
Total NEW pendings (Contracts + Contingents): 66

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.

Follow me on Twitter:  http://twitter.com/roykelley

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

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 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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