GAITHERSBURG MD 20877 REAL ESTATE TREND INDICATOR

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Real Estate Agent with Realty Group Referrals 16766

GAITHERSBURG MD 20877 REAL ESTATE TREND INDICATOR  

If you are planning to purchase or sell a home in ZIP CODE 20877, 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 142 active listings on the multiple listing service (MRIS).  During the month, there were 32 new listings and 46 went to pending new contracts. The sold dollar volume was up 37.74% from last year.  The number of homes sold was 32 from 15 last year. The average days on the market was 107 days from 105 days last year.  The average sale price was 84.17% of the average list price.  The median sold price was $202,500.  The market still favors buyers.  Foreclosures and short sales listings 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  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: 20877 Gaithersburg, 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 0 0 0 4 0 2 27 0 1 -30 Days 10
$100,000 - 149,999 0 2 1 4 0 13 7 0 31-60 Days 5
$150,000 - 199,999 0 4 0 1 0 12 4 0 61 - 90 Days 3
$200,000 - 249,999 1 0 1 0 0 14 2 0 91-120 Days 4
$250,000 - 299,999 0 2 0 0 0 14 1 0 Over 120 Days 10
$300,000 - 349,999 0 3 0 3 0 16 3 0 Total 32
$350,000 - 399,999 0 1 2 0 0 12 0 0  
$400,000 - 449,999 0 0 1 0 0 5 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 1 0 0 3 0 0
$500,000 - 599,999 0 0 1 0 0 6 0 0 Conventional 11
$600,000 - 699,999 0 0 0 0 0 1 0 0 FHA 9
$700,000 - 799,999 0 0 0 0 0 0 0 0 VA 2
$800,000 - 899,999 0 0 0 0 0 0 0 0 Assumption 3
$900,000 - 999,999 0 0 0 0 0 0 0 0 Cash 6
$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 1
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 1 12 7 12 0 98 44 0 Total 32
Grand Totals 32 142    
    2009   2008   % Change
Total Sold Dollar Volume: $ 7,380,800 $ 5,358,390 37.74 %
Average Sold Price: $ 230,650 $ 357,226 - 35.43 %
Median Sold Price: $ 202,500 $ 349,000 - 41.98 %
Total Units Sold: 32 15 113.33 %
Average Days on Market: 107 105 1.90 %
Average List Price for Solds: $ 274,029 $ 384,760 - 28.78 %
Avg Sale Price as a
percentage of Avg List Price:
84.17 % 92.84 %  
Total NEW listings: 32
Total Properties Marked Contract: 23
Total Properties Marked Contingent Contract: 23
Total NEW pendings (Contracts + Contingents): 46

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.  

Your Real Estate Professional,

Posted by

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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