Silver Sping Md. 20906 - Townhouse - Jan 2008 Market Report

This market report is on Townhouses FOR SALE in the 20906 zip code excluding those in the active senior's community of Leisure World. As for this date (2/18/08) there are currently 79 townhouses FOR SALE in this market place( up from 71 last month at this time), 11 homes went under contract during the period and 6 were SOLD during the month of January. Of the 79 homes 16 were added to or came back on the market in January and not put under contract by the end of the month and 14 have come on the market or returned to the market in during the first 18 days of February 2008.

On the same day there were a total of 213 up from the 191 townhouses on the market FOR SALE in all of Silver Spring Md. in December; and a count of 1420 in all of Montgomery County, which is up form the count of 1341 in December. As you can see inventory is still building.

5 Bedroom homes

There are only 2 five bedrooms Townhouses on the market in this group. They ranged in price from $354,900 to $479,999; giving us an average of $417,450. One was new to the market in February (13 days) while the other has been on the market four and a half months (139 days).

No five bedroom townhouses went under contract or to the closing table during the month of January. The last one that sold did so in July of 2007.

4 Bedroom homes

There are 30 four bedroom Townhouses on the market in this group, up form the 24 at this time last month. They range in price from $289,000 to $510,000; with the average being $359,898 which is down a little from last months average of $363,301. While a few have come on the market since Feb 1, the average number of days on the market is near 5 months at 143 days, which is about the same of last months at 148.

There was a total of 4 four bedroom Townhouses that went under contract in January, with their last list prices ranging from $250,000 to $379,900 with the average being $314,475 which down from lasts average of $309,933. One for these townhouses came on the market in February, the days on the market ranged from 16 to 251, with the average being a little over three and a half months (105 days), which is down from the 136 days last month.

Another two 4 bedroom Townhouse went to the closing table during the month of January, with their last list being $289,000 and $300,000; these home were on the market for six and a half months (195 days), just about the same as those that closed last month (184) days.

3 Bedroom homes

Clearly a majority of the townhouses on the market, there are 42 three bedroom Townhouses on the market in this group, just about the same as last month count of 40 They range in price from $229,990 to $489,000; with the average being $367,935, which is up slightly from the $359,130 last month. While a few have come on the market since Feb 1, the average number of days on the market being near three and half months (107 days); which is down just a little from last months average of 122 days. The longest on the market is down too 287 days from the 299 days last month.

There was a total of 7 three bedroom Townhouses that went under contract in during the month of January, with the last list prices ranging from $295,000 to $445,000 with the average being $354,000; which is up from the $322,500 last month. While one if these townhouses came on the market in February, days on the market ranged from 4 to 179, with the average being a little over three months (104 days), this figure is down from the 136 days last month..

Only two 3 bedroom Townhouses went to the closing table during the month of January, with the last list prices ranging from $274,500 to $335,000 for an average of $304,750, which is lower than the average of $358,757 last month. None of these homes initially came on the market recently, the shortest be in on the market for nearly 3 months (88 days), the longest being over 8 months at 253 days for an average of just short of 6 months (177 days); which is nearly double the figure from last month of 3 months (92 days).

2 Bedroom homes

There are 5 two bedroom Townhouses on the market in this group. They range in price from $254,900 to $314,900; with the average being $285,820, which is close to down from the $292,200 last month. The days on the market range from 107 to 294 days, with the average being close to 6 and half months at 194 days.

No two bedroom Townhouses is under contract at the time of this report.

Only 1 two bedroom Townhouse went to the closing table during the month of January, with its last list being $311,000; this home was on the market for just sort of four months (113 days).

These figures were obtained from the Metropolitan Regional Information System (MRIS) on this day. If more information on the housing market in zip code 20906 is needed, I can be reached via my webpage.

Talk again soon, I hope.