Leisure World of Maryland - Market Report - Rentals - June 2009

Leisure World of Maryland - Market Report - Rentals - June 2009

This market report details the rental activity in the senior citizens' community of Leisure World in Silver Spring, Maryland. The report period is for activity during the month of May 2009. At the time of this report (6/9/2009), there are a total of 40 homes on the market for rent. The rents of these homes range from $950 for a one-bedroom condo to $2800 per month for a four-bedroom detached home. The average rent for these homes is $1,368. No significant change in the number of homes on the market of the average list price, since last month. While the longest has been on the market for over a year (496 days), the average time on the market is near four and one half months (103 days). During the month of March, 18 units were rented or applications to rent were taken.

One Bedroom

Six of the 40 apartments on the market for rent are one-bedroom units ranging in rent from $950 to $1,150, with the average being $1083. Two of the six are new to the market during the month, the longest on the market for six months (179 days), the average being near two months (66 days).

Only two one-bedrooms were rented or applications taken during the month, ranging in rent from $1150 to $1,315. Days on market ranged from near two months to just over ten months with the average being near six months (193 days).

Two Bedrooms

Clearly a majority of the homes on the market for rent (29 of the 40) are the two bedroom apartments. These range in rent from $1,000 to $1,950 per month, with the average being $1,316. While six of the units were brought to the market in May the longest on the market is nearly a year month (375 days), the average again being nearly three months (98 days).

Fifteen two-bedroom apartments were rented or applications to rent were taken during the month. The rents on these apartments ranged from $950 to $1,400, with the average being $1,225. The average number of days these homes were on market was nearly 3 months (87 days). The longest period was a little over seven months (219 days).

Three Bedrooms

Currently there are four three-bedroom rentals on the market for rent. The listed rents for these homes ranged from $1,495 to $2,100, averaging $1,811 per month. None of the four are new to the market this month. The longest has been on the market for over 16 months (496 days), averaging near six months (190 days).

Only one three-bedroom apartment was rented during the month of may. This apartment rented for $1,400, and had been on the market for near four months (112 days).

Four Bedrooms

There is only one four-bedroom home on the market for rent at this time. This detached home, with attached two car garage is listed for rent at $2,800 a month and has been on the market for over three months (109 days). No other similar home was rented last month.

If I or my team can help with your real estate needs here in Leisure World of Maryland, please feel free to contact me by any of the following methods - my web page, email, or (301) 237-2277