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POTOMAC, MARYLAND REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20854, you should take a close look at the following report that compares the statistics for October with the same month last year. There were 61 new listings in the area and 29 listings went to new pending contracts. There were 28 actual settlements as compared to 33 homes sold last year. The total sold dollar volume was down 18.11%. The average number of days on the market was up to 109 from 86 days last year. The average sale price was 94.96% of the average list price. The average sold price was $1,007,725 down 3.48% from last year. 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.
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: 20854 Potomac, MD From: 10/01/2008 to 10/31/2008 Statistics generated on: 11/06/2008
| |
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 |
11 |
| $100,000 - 149,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
31-60 Days |
5 |
| $150,000 - 199,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
61 - 90 Days |
2 |
| $200,000 - 249,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
91-120 Days |
2 |
| $250,000 - 299,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Over 120 Days |
8 |
| $300,000 - 349,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Total |
28 |
| $350,000 - 399,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
|
| $400,000 - 449,999 |
0 |
2 |
0 |
0 |
0 |
3 |
0 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
2 |
0 |
0 |
0 |
3 |
0 |
0 |
| $500,000 - 599,999 |
0 |
1 |
1 |
0 |
0 |
11 |
1 |
0 |
Conventional |
20 |
| $600,000 - 699,999 |
0 |
0 |
5 |
0 |
0 |
28 |
0 |
0 |
FHA |
1 |
| $700,000 - 799,999 |
0 |
0 |
6 |
0 |
0 |
27 |
0 |
0 |
VA |
0 |
| $800,000 - 899,999 |
0 |
1 |
1 |
0 |
0 |
13 |
1 |
0 |
Assumption |
1 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
14 |
1 |
0 |
Cash |
5 |
| $1,000,000 - 2,499,999 |
0 |
1 |
6 |
0 |
0 |
131 |
2 |
0 |
Owner Finance |
0 |
| $2,500,000 - 4,999,999 |
0 |
0 |
2 |
0 |
0 |
31 |
0 |
0 |
All Other |
1 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
10 |
0 |
0 |
Unreported |
0 |
| Totals |
0 |
7 |
21 |
0 |
0 |
273 |
5 |
0 |
Total |
28 |
| Grand Totals |
28 |
278 |
|
|
| |
2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 28,216,300 |
$ 34,454,250 |
- 18.11 % |
| Average Sold Price: |
$ 1,007,725 |
$ 1,044,068 |
- 3.48 % |
| Median Sold Price: |
$ 718,750 |
$ 860,000 |
- 16.42 % |
| Total Units Sold: |
28 |
33 |
- 15.15 % |
| Average Days on Market: |
109 |
86 |
26.74 % |
| Average List Price for Solds: |
$ 1,061,195 |
$ 1,114,434 |
- 4.78 % |
Avg Sale Price as a
percentage of Avg List Price: |
94.96 % |
93.69 % |
|
|
| Total NEW listings: |
61 |
| Total Properties Marked Contract: |
13 |
| Total Properties Marked Contingent Contract: |
16 |
| Total NEW pendings (Contracts + Contingents): |
29 |
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market. roykelley@mris.com
