MONTGOMERY VILLAGE MD 20886 REAL ESTATE TREND INDICATOR
If you are planning to purchase or sell a home in Montgomery Village, you will want to know the trends of the market. The following report is for the past month and the statistics are compared with the same month last year. There were 203 active listings of homes for sale in Montgomery Village during the month. There were 66 new listings and 73 went to pending new contracts. The sold dollar volume was up 10.24% from last year. The number of homes sold was 50 from 39 last year. The average days on the market was 88 days from 97 days last year. The average sale price was 91.81% of the average list price. The median sold price was $188,000. The market still favors buyers. Foreclosures and short sales listings still influence the area market. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows borrowers to include up to $35,000 of home improvements in the mortgage amount. First time buyers have the benefit of the currently available $8,000 federal tax credit for purchases completed before the end of November. All prospective buyers are advised to obtain pre-approval for mortgage financing before submitting an offer. More investors are buying in Montgomery Village because the prices on lender owned foreclosures are the lowest in several years.
Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 20886 Montgomry Village, MD
From: 08/01/2009 to 08/31/2009 Statistics generated on: 09/09/2009
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 | 1 | 0 | 0 | 5 | 0 | 3 | 17 | 0 | 1 -30 Days | 20 |
$100,000 - 149,999 | 1 | 5 | 2 | 3 | 0 | 46 | 13 | 0 | 31-60 Days | 5 |
$150,000 - 199,999 | 0 | 8 | 1 | 3 | 0 | 43 | 5 | 0 | 61 - 90 Days | 6 |
$200,000 - 249,999 | 0 | 8 | 2 | 0 | 0 | 18 | 1 | 1 | 91-120 Days | 3 |
$250,000 - 299,999 | 0 | 3 | 0 | 0 | 0 | 13 | 0 | 0 | Over 120 Days | 16 |
$300,000 - 349,999 | 0 | 2 | 0 | 0 | 0 | 16 | 0 | 0 | Total | 50 |
$350,000 - 399,999 | 0 | 0 | 2 | 0 | 0 | 12 | 0 | 0 | ||
$400,000 - 449,999 | 0 | 0 | 2 | 0 | 0 | 6 | 0 | 0 | Type of Financing of Units Sold (No. of Units) |
|
$450,000 - 499,999 | 0 | 0 | 1 | 0 | 0 | 5 | 0 | 0 | ||
$500,000 - 599,999 | 0 | 0 | 1 | 0 | 0 | 3 | 0 | 0 | Conventional | 13 |
$600,000 - 699,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | FHA | 25 |
$700,000 - 799,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | VA | 3 |
$800,000 - 899,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Assumption | 1 |
$900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Cash | 8 |
$1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 26 | 11 | 11 | 0 | 166 | 36 | 1 | Total | 50 |
Grand Totals | 50 | 203 |
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Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
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