Silver Spring md. Leisure World - Garden Apartments - Market Report - Sept 2009

Silver Spring md. Leisure World - Garden Apartments - Market Report - Sept 2009

This Market Report is to cover the Garden Apartments in the senior citizen community of Leisure World in Silver Spring Maryland 20906. At the time of this report (09/18/09) there are 57 Garden apartment homes on the market FOR SALE or FOR RENT in this community. The configurations of these units range from a studio apartment with 635 sq ft of living space to three-bedroom 2 full bath apartment with 1547 sq ft. There are 12 of the 57 on the market FOR RENT at this time and the remainder listed for sale.

FOR RENT

At the time of this report there are five one-bedroom one bath homes on the market FOR RENT in Leisure World. The sizes of these apartments range from 666 sq ft to 1020 sq ft of living space. The rents are listed from the least expensive at $950 to the most expensive at $1190, with the average being $1073. The days on days on market with the current Realtor range from as short as little over one month (44 days) to nearly nine months (281 days), with the average being close to four months (117 days).

There are no garden apartments in the community for which an application to rent has been accepted and a lease not signed at the time of this report.

Since Aug 1, two one-bedroom garden apartments have had leases signed. These two homes rented for $1,075 and $1,100, after being on the market with the current Realtor for seven and seventeen days.

At the time of this report there are five two-bedroom homes on the market FOR RENT in Leisure World. The sizes of these apartments range from 946 sq ft to 1325 sq ft of living space. The rents are listed from the least expensive at $975 to the most expensive at $1550, with the average being $1284. The days on days on market with the current Realtor range from as short as less than a week (3 days) to over seven months (214 days), with the average being nearly three months (87 days).

Since Aug 1^st three two-bedroom garden apartments have been rented in Leisure World. The rents ranged from $1,000 to $1,295, with the average being $1,148. The days on market with the current Realtor ranged from just over a month (31 days) to nearly five months (146 days), with the average being just short of three months (81 days).

At the time of this report there are only two three-bedroom homes on the market FOR RENT in Leisure World. The sizes of these apartments range from 1340 sq ft to 1564 sq ft of living space. The rents are listed from the least expensive at $1,350 to the most expensive at $1,600, with the average being $1,475. The days on days on market range with the currently Realtor from as short as a little over one month (44 days) to over six months (192 days), with the average being nearly four months ( 118 days).

Since Aug 1^st no three-bedroom garden apartments have been rented on the community.

FOR SALE

At the time of this report there are nine one-bedroom one bath garden apartments on the market FOR SALE in Leisure World. The sizes of these apartments range from a studio of 635 sq ft to a apartment with 1020 sq. ft. of living space. The prices range from the least expensive at $59,950 to the most expensive at $119,900, with the average being $98,489. The days on market with the current Realtor range from as little over a month (38 days) to over seven months (216 days), with the average being just short of four months (105 days).

At the time of this report there is no one-bedroom one bath Garden Apartments under contract in Leisure World.

Since August 1^st of this year only one-bedroom garden apartment has gone to settlement in Leisure World of Maryland. The settled price of this home was $100,000. This home was on the market with the current Realtor for less than three months (84 days).

A majority of the Garden Apartments FOR SALE in Leisure World at this time are the 27 two-bedroom homes. These homes range in size from 953 sq ft to 1430 sq ft with a fireplace. The list price of these homes currently range from $99,000 to $359,000. The days on market with the current Realtor range from as short as a week (7 days) to over two years (859 days), with the average being just over six months (193 days).

There are currently nine two-bedroom Garden Apartment homes in Leisure World under contract. The last known list price of these homes ranged from a low of $88,500 to a high of $219,000, with the average being $130,335. The homes were on the market with the current Realtor from a short as a little over one week (9 days) to nearly seven months (208 days), with the average being just short of four months (119 days).

Since August 1^st of this year eight two-bedroom Garden Apartments have gone to settlement in Leisure World of Maryland. The settled prices of these homes were $102,000 and $325,000, with the average being $130,187 The days on market with the current Realtor were from just over a week (9 days) to over two years (757 days), with the average being nearly ten months (298 days).

There is also a nine three-bedroom Garden Apartments on the market FOR SALE at this time. These homes range in size from 1340 sq ft to 1564 sq ft of living space. The current list prices of these homes range from the least expensive at $174,613 to the most expensive at $335,000, with the average being $217,151. The days on market with the current Realtor for these homes range from less than one week (8 days) to a little over one year (376 days), with the average being nearly six months (174 days).

There are no three-bedroom Garden Apartments in Leisure World under contract at the time of this report.

No three-bedroom garden apartments have gone to settlement since August 1^st 2009.

If you or anyone you know would be interested in one of these homes, or looking for more detail on this set of homes, please get in contact with me.