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DAMASCUS, MARYLAND 20872 REAL ESTATE TREND INDICATOR

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 March with the same month last year. There were 21 new listings in the area and 19 listings went to pending new contracts. During the month, there were 67 active listings of homes for sale in 20872. There were 9 actual settlements as compared to 6 homes sold last year. The total sold dollar volume was down 15.98%. The average number of days on the market was 119 from 195 days last year. The average sale price was 87.872% of the average list price. The average sold price was $239,544 and median sold price was $252,000. There were 67 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. Many buyers are using FHA financing for the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include up to $35,000 of home improvements in the initial mortgage loan. The Housing Opportunities Commission has 100% financing available for qualified first time buyers.

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: 03/01/2009 to 03/31/2009 Statistics generated on: 04/08/2009

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 1 1 0 31-60 Days 0
$150,000 - 199,999 1 2 0 0 0 5 5 0 61 - 90 Days 1
$200,000 - 249,999 0 0 0 0 0 3 1 0 91-120 Days 2
$250,000 - 299,999 1 2 1 0 0 9 1 0 Over 120 Days 4
$300,000 - 349,999 0 1 1 0 0 6 0 0 Total 9
$350,000 - 399,999 0 0 0 0 0 14 0 0
$400,000 - 449,999 0 0 0 0 0 1 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 0 0 0 7 0 0 Conventional 1
$600,000 - 699,999 0 0 0 0 0 4 0 0 FHA 7
$700,000 - 799,999 0 0 0 0 0 3 0 0 VA 0
$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 1
$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 2 5 2 0 0 59 8 0 Total 9
Grand Totals 9 67
2009 2008 % Change
Total Sold Dollar Volume: $ 2,155,900 $ 2,566,000 - 15.98 %
Average Sold Price: $ 239,544 $ 427,667 - 43.99 %
Median Sold Price: $ 252,000 $ 445,000 - 43.37 %
Total Units Sold: 9 6 50.00 %
Average Days on Market: 119 195 - 38.97 %
Average List Price for Solds: $ 272,611 $ 455,700 - 40.18 %
Avg Sale Price as a
percentage of Avg List Price:		 87.87 % 93.85 %
Total NEW listings: 21
Total Properties Marked Contract: 6
Total Properties Marked Contingent Contract: 13
Total NEW pendings (Contracts + Contingents): 19

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

Roy Kelley & Associates

Associate Broker, RE/MAX Realty Group 6 Montgomery Village Avenue, Suite 200 Gaithersburg, MD 20879 USA

Direct: 301-921-4569 Client Assistance: 301-670-8996

Email: roykelley@mris.com 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

MONTGOMERY COUNTY MD LENDER OWNED FORECLOSURES Rev. 4/10/09 http://activerain.com/blogsview/1027897/MONTGOMERY-COUNTY-MD-REO

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.

Posted Sunday Apr 12