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DAMASCUS MD 20872 REAL ESTATE TREND INDICATOR

DAMASCUS MD 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 the past month with the same month last year. During the month, there were 77 active listings of homes for sale in 20872. There were 15 new listings in the area and 16 listings went to pending new contracts. There were 9 actual settlements as compared to 21 homes sold last year. The total sold dollar volume was down 68.57%. The average number of days on the market was 101 from 107 days last year. The average sale price was 79.898% of the average list price. The average sold price was $213,656 and median sold price was $215,000. It is still a 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.

There are 58 homes for sale in Zip Code 20872. Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-91807843-384

Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 20872 Damascus, MD
From: 09/01/2009 to 09/30/2009 Statistics generated on: 10/07/2009

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 3
$100,000 - 149,999 0 0 0 0 0 1 1 0 31-60 Days 3
$150,000 - 199,999 0 3 1 0 0 5 5 0 61 - 90 Days 0
$200,000 - 249,999 0 4 0 0 0 7 2 0 91-120 Days 0
$250,000 - 299,999 0 0 1 0 0 14 0 0 Over 120 Days 3
$300,000 - 349,999 0 0 0 0 0 10 0 0 Total 9
$350,000 - 399,999 0 0 0 0 0 4 0 0
$400,000 - 449,999 0 0 0 0 0 7 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 5 0 0
$500,000 - 599,999 0 0 0 0 0 4 0 0 Conventional 2
$600,000 - 699,999 0 0 0 0 0 8 0 0 FHA 6
$700,000 - 799,999 0 0 0 0 0 1 0 0 VA 1
$800,000 - 899,999 0 0 0 0 0 2 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 1 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 7 2 0 0 69 8 0 Total 9
Grand Totals 9 77
2009 2008 % Change
Total Sold Dollar Volume: $ 1,922,900 $ 6,118,584 - 68.57 %
Average Sold Price: $ 213,656 $ 291,361 - 26.67 %
Median Sold Price: $ 215,000 $ 285,000 - 24.56 %
Total Units Sold: 9 21 - 57.14 %
Average Days on Market: 101 107 - 5.61 %
Average List Price for Solds: $ 267,421 $ 321,536 - 16.83 %
Avg Sale Price as a
percentage of Avg List Price:		 79.89 % 90.62 %
Total NEW listings: 15
Total Properties Marked Contract: 9
Total Properties Marked Contingent Contract: 7
Total NEW pendings (Contracts + Contingents): 16

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com

FHA loan limits for Montgomery County and Frederick County: $729,750. Limit for FHA reverse mortgages: $625,000.

Please contact us with your questions on the residential real estate market.

Posted Tuesday Oct 13