The December Market Watch report for the neighborhood of Russett in Laurel MD has arrived. I’ll provide the final numbers of the month followed by the final numbers for the zip code 20724. Also, with regard to the zip code, I’ll provide you with a comparison to last year’s market activity.
There were a total of 9 units that sold during the month of December 2013:
· 3 single family homes with an average sales price of $399,000 and the average days on the market were 78 days.
· 5 town homes with an average sales price of $293,200 and the number of days on the market were 40 days.
· 1 condominium with a sales price of $187,000 and the number of days on the market was 11 days.
When we look beyond the neighborhood of Russett to get a feel for sales activity within the entire zip code of 20724 we learn that there were a total number of 17 units that sold (6.25% increase over last year). The median sold price was $260,000 (-1.10% decrease from last year) and the overall average days on the market was 56 (-24.32% decrease from last year).
· 7 single family homes sold (10.80% increase over last year) with an average sales price of $307,214 (10.80% increase over last year).
· 10 attached units sold (-9.09% decrease from last year) with an average sales price of $253,074 (0.19% increase over last year).
In the 20724 zip code, the number of properties that sold during the month of December and year-to-date represent this particular area has stabilized and is showing steady growth in the total number of properties sold, average sales price and average days on the market.
I would highly recommend the Russett area to buy real estate since the numbers confirm strength and growth.
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Median Sales Price
Average Days on Market