Silver Spring, Md. 20906 - Detached Homes - Feb 2008 Market Report

This market report is about Detached Homes FOR SALE in the 20906 zip code excluding those in the active senior's community of Leisure World. As for this date there are currently 178 such homes FOR SALE in the market place with list dates being in February or sooner, 54 of which were new to or turned to the market in February. 15 homes went under contract during the period and 17 were SOLD during the month.

By comparison there are 2431 detached homes FOR SALE in all of Montgomery County Md. on this date and 767 in all of Silver Spring.

6+ Bedroom Detached Homes

Of the 178 Detached home only 10 are 6 or more bedroom homes. These homes range in price from $339,000 to $684,000 with the average being $466,170. These home have been on the market from 13 day to maximum of 230 day (just over 7 months); the average being 117 days (close to 4 months).

Only three 6 or more bedroom homes went under contract during the month. The current List Price of these homes at the time they went under contact ranged from $249,000 to $749,000; and the days on the market ranged from 2 days to 168 days (near five and a half months) with the average being 93 days (near three months).

Two 6 or more bedrooms detached homes went to closing during the month of February. The days on the market ranged from 101 to 247, with the average being 174 days (just short of 6 months).

5 Bedroom homes

There are 35 five bedrooms detached homes on the market in this group; after dropping out the three in excess of $1,000,000. They range in price for $286,000 to $849,999; with the average being $463,705. The days on market ranging form 15 days to 579 days with the average being 158 days (just over 5 months).

Three 5 bedroom detached homes went under contract in February, with their list price ranging from $308,050 to $679,900 and the average was $487,317. These homes were on the market ranging from 79 days to 199 days with the average being 132 days (just over 6 months),.

Only one 5 bedroom detached homes went to the closing table during the month of February, and sold for $403,000. This home was only on the market for 14 days.

4 bedroom homes

Clearly a majority of the detached homes, there are 87 four bedrooms detached homes on the market in this group. They range in price for $250,000 to $899,750; with the average being $439,334. The days on the market ranging from 12 to just short of two years (679 days); with the average being 143 days (just short of 5 months).

There were four 4 bedroom detached homes that went under contract during the month. Their last list prices ranged from $399,000 to $545,000, with the average being $465,250. The days on market ranged from 10 days to 90 days, with the average being 44 days (just over a month and a half).

Eight 4 bedroom detached homes went to the closing table during the month, with their last list prices going from $234,900,000 to a high of $475,000 with the average being $394,150. The days on market ranged from a short 9 days to 341 days (just over 11 months); with the average being 158 days (five months).

3 bedrooms

There are 36 three bedroom detached homes on the market in this group. They range in price for $249,900 to $625,750; with the average being $375,891. The days on market range from 12 to 329, and the average number of days on the market is near 4 months at 122 days.

There were 6 three bedroom detached homes that went under contract during the month, with its last list price ranging from $250,000 to $382,500, The days on market ranged from 12 days to 113 days (just short of 4 months), with the average being 48 days (just over one and a half months),

Five three bedroom detached homes went to the closing table during the month, with their last list prices going from $274,900 to a high of $378,000 with the average being $331,558. While one sold in less than one month (21 days), the longest was near 3 months at 121 days; with the average being over 2 months at 78 days.

2 bedrooms

There only 7 two bedroom detached homes on the market in this group. They range in price from $248,900 to $369,900; with the average being $312,514. The number of days for these homes range from 13 days to 299 days (10 months), with the average being 133 days (near four and a half months).

Only one 2 bedroom detached homes that went under contract during the month, with its last list price of $225,000 and was on the market for just 13 days,

One 2 bedroom detached homes in the 20906 zip code went to the closing table during the month, This home was last listed for $280,000 and was on the market for just short of two months at 50 days.

This information was obtained from the local MLS, MRIS - Metropolitan Regional Information System. For more information on local neighborhoods can be obtained on the blog on my website.

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