DAMASCUS, MARYLAND 20872 REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20872, you should take a close look at the following report that compares the statistics for February with the same month last year. There were 13 new listings in the area and 7 listings went to pending new contracts. There were 7 actual settlements as compared to 9 homes sold last year. The total sold dollar volume was down 21.28%. The average number of days on the market was 129, the same as last year. The average sale price was 89.52% of the average list price. The average sold price was $360,986 and median sold price was $370,000. There were 66 homes on the market. 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 $8,000 tax credit for settlements that take place before the end of November, 2009. 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: 20872 Damascus, MD From: 02/01/2009 to 02/28/2009 Statistics generated on: 03/06/2009
| |
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 |
0 |
0 |
1 -30 Days |
2 |
| $100,000 - 149,999 |
0 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
31-60 Days |
0 |
| $150,000 - 199,999 |
0 |
0 |
0 |
1 |
0 |
5 |
2 |
0 |
61 - 90 Days |
0 |
| $200,000 - 249,999 |
0 |
0 |
0 |
0 |
0 |
6 |
2 |
0 |
91-120 Days |
1 |
| $250,000 - 299,999 |
0 |
2 |
0 |
0 |
0 |
11 |
0 |
0 |
Over 120 Days |
4 |
| $300,000 - 349,999 |
0 |
0 |
0 |
0 |
0 |
6 |
0 |
0 |
Total |
7 |
| $350,000 - 399,999 |
0 |
1 |
0 |
0 |
0 |
12 |
0 |
0 |
|
| $400,000 - 449,999 |
0 |
0 |
2 |
0 |
0 |
3 |
0 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
0 |
| $500,000 - 599,999 |
0 |
0 |
1 |
0 |
0 |
5 |
0 |
0 |
Conventional |
2 |
| $600,000 - 699,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
FHA |
3 |
| $700,000 - 799,999 |
0 |
0 |
0 |
0 |
0 |
3 |
0 |
0 |
VA |
2 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
3 |
0 |
0 |
Assumption |
0 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Cash |
0 |
| $1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
2 |
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 |
0 |
3 |
3 |
1 |
0 |
61 |
5 |
0 |
Total |
7 |
| Grand Totals |
7 |
66 |
|
|
| |
2009 |
2008 |
% Change |
| Total Sold Dollar Volume: |
$ 2,526,900 |
$ 3,209,800 |
- 21.28 % |
| Average Sold Price: |
$ 360,986 |
$ 356,644 |
1.22 % |
| Median Sold Price: |
$ 370,000 |
$ 325,000 |
13.85 % |
| Total Units Sold: |
7 |
9 |
- 22.22 % |
| Average Days on Market: |
129 |
129 |
0.00 % |
| Average List Price for Solds: |
$ 403,241 |
$ 404,511 |
- 0.31 % |
Avg Sale Price as a
percentage of Avg List Price: |
89.52 % |
88.17 % |
|
|
| Total NEW listings: |
13 |
| Total Properties Marked Contract: |
2 |
| Total Properties Marked Contingent Contract: |
5 |
| Total NEW pendings (Contracts + Contingents): |
7 |
|
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,
Roy Kelley
Direct: 301-921-4569
Client Assistance: 301-670-8996
Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com
Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley
Comprehensive solutions for residential real estate needs.
MONTGOMERY COUNTY MD LENDER OWNED FORECLOSURES Rev. 3/09/09 http://tinyurl.com/bblak9
FREDERICK COUNTY MD LENDER OWNED FORECLOSURES Rev. 3/12/09 http://tinyurl.com/b6xkkp
FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com
Newly increased FHA loan limits for Montgomery County and Frederick County: $729,750. New limit for FHA reverse mortgages: $625,000.
